Pictet Asset Management Holding SA Sells 48,273 Shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX)

Pictet Asset Management Holding SA reduced its position in Celldex Therapeutics, Inc. (NASDAQ:CLDX) by 4.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,090,173 shares of the biopharmaceutical company’s stock after selling 48,273 shares during the period. Pictet Asset Management Holding SA’s holdings in Celldex Therapeutics were worth $27,549,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its holdings in Celldex Therapeutics by 215.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,285 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 878 shares during the last quarter. KBC Group NV boosted its stake in shares of Celldex Therapeutics by 79.1% in the 4th quarter. KBC Group NV now owns 3,728 shares of the biopharmaceutical company’s stock valued at $94,000 after purchasing an additional 1,647 shares during the last quarter. AlphaQuest LLC grew its position in shares of Celldex Therapeutics by 171.0% during the 4th quarter. AlphaQuest LLC now owns 4,287 shares of the biopharmaceutical company’s stock worth $108,000 after buying an additional 2,705 shares during the period. E Fund Management Co. Ltd. acquired a new stake in shares of Celldex Therapeutics during the 4th quarter worth approximately $273,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Celldex Therapeutics during the fourth quarter worth approximately $306,000.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $67.00 price objective on shares of Celldex Therapeutics in a research note on Wednesday, January 29th. The Goldman Sachs Group reduced their price target on Celldex Therapeutics from $42.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Morgan Stanley initiated coverage on Celldex Therapeutics in a report on Thursday, March 20th. They issued an “overweight” rating and a $46.00 price objective for the company. UBS Group began coverage on Celldex Therapeutics in a report on Thursday, February 13th. They set a “buy” rating and a $44.00 target price on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price target on shares of Celldex Therapeutics in a research note on Friday, February 28th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.33.

Celldex Therapeutics Stock Performance

Shares of CLDX opened at $18.15 on Tuesday. The stock has a 50 day simple moving average of $21.78 and a 200 day simple moving average of $26.06. Celldex Therapeutics, Inc. has a 52-week low of $17.63 and a 52-week high of $47.00. The firm has a market capitalization of $1.20 billion, a PE ratio of -7.06 and a beta of 1.76.

Celldex Therapeutics (NASDAQ:CLDX) last issued its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.73) by $0.02. The company had revenue of $1.18 million during the quarter, compared to the consensus estimate of $1.25 million. Celldex Therapeutics had a negative net margin of 1,544.32% and a negative return on equity of 19.75%. Equities research analysts predict that Celldex Therapeutics, Inc. will post -2.48 EPS for the current fiscal year.

Celldex Therapeutics Company Profile

Celldex Therapeutics, Inc, a biopharmaceutical company, engages in developing therapeutic monoclonal and bispecific antibodies for the treatment of various diseases. Its drug candidates include antibody-based therapeutics to treat patients with inflammatory, allergic, autoimmune, and other devastating diseases.