Silverarc Capital Management LLC Acquires 119,560 Shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX)

Silverarc Capital Management LLC raised its stake in Celldex Therapeutics, Inc. (NASDAQ:CLDX) by 82.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 264,560 shares of the biopharmaceutical company’s stock after acquiring an additional 119,560 shares during the quarter. Celldex Therapeutics makes up approximately 1.5% of Silverarc Capital Management LLC’s investment portfolio, making the stock its 24th largest position. Silverarc Capital Management LLC’s holdings in Celldex Therapeutics were worth $6,685,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Invesco Ltd. boosted its position in Celldex Therapeutics by 2.1% in the fourth quarter. Invesco Ltd. now owns 42,101 shares of the biopharmaceutical company’s stock valued at $1,064,000 after buying an additional 871 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Celldex Therapeutics by 215.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,285 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 878 shares in the last quarter. Swiss National Bank raised its position in Celldex Therapeutics by 1.2% in the fourth quarter. Swiss National Bank now owns 117,300 shares of the biopharmaceutical company’s stock valued at $2,964,000 after purchasing an additional 1,400 shares during the last quarter. KBC Group NV boosted its stake in shares of Celldex Therapeutics by 79.1% during the fourth 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 in the last quarter. Finally, MetLife Investment Management LLC increased its stake in shares of Celldex Therapeutics by 6.1% in the fourth quarter. MetLife Investment Management LLC now owns 39,620 shares of the biopharmaceutical company’s stock valued at $1,001,000 after buying an additional 2,288 shares during the period.

Wall Street Analysts Forecast Growth

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

Celldex Therapeutics Stock Performance

Shares of Celldex Therapeutics stock opened at $18.94 on Tuesday. Celldex Therapeutics, Inc. has a 52 week low of $14.40 and a 52 week high of $47.00. The stock has a 50 day moving average price of $19.47 and a two-hundred day moving average price of $23.74. The stock has a market capitalization of $1.26 billion, a PE ratio of -7.37 and a beta of 1.59.

Celldex Therapeutics (NASDAQ:CLDX) last released its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.71) earnings per share for the quarter, topping the consensus estimate of ($0.73) by $0.02. The firm had revenue of $1.18 million for 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%. Research analysts forecast that Celldex Therapeutics, Inc. will post -2.48 EPS for the current year.

About Celldex Therapeutics

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.