Teachers Retirement System of The State of Kentucky, a prominent institutional investor, recently reduced its stake in biopharmaceutical company Celldex Therapeutics, Inc. (NASDAQ:CLDX) by 22.4%. According to the institution’s most recent filing with the SEC, it owned 22,723 shares of the stock after selling 6,553 shares during the fourth quarter. The remaining shares were valued at $1,013,000 at the time of filing.
While this news may be concerning for some investors, it is important to note that hedge funds and institutional investors are constantly buying and selling stocks as part of their investment strategies. In fact, individual investors can use filings like these to gain insight into market trends and make informed decisions about their own investments.
For those interested in tracking other hedge funds’ holdings in CLDX or learning more about insider trades within the company, HoldingsChannel.com can provide up-to-date information on 13F filings.
As for the current state of Celldex Therapeutics itself, CLDX stock opened at $35.68 on June 19th with a market cap of $1.69 billion. The price-to-earnings ratio stands at -14.16 with a beta of 2.12. Additionally, the business has a fifty-day simple moving average (SMA) of $33.28 and a 200-day SMA of $39.06.
Despite fluctuations in stock prices and institutional investments, Celldex Therapeutics remains committed to developing innovative solutions in cancer immunotherapy and precision medicine. Its pipeline includes experimental treatments for glioblastoma multiforme, head and neck squamous cell carcinoma and triple-negative breast cancer.
In conclusion, while changes in institutional investments may cause fluctuations in stock prices over time, prudent investors should remain focused on long-term growth prospects and evaluate companies based on their fundamentals – including R&D pipelines and potential impact on public health.
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Institutional Investors and Hedge Funds Show Confidence in Celldex Therapeutics as Drug Candidates Advance
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”CLDX” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]Celldex Therapeutics, a biopharmaceutical company that specializes in developing therapeutic monoclonal antibodies for the treatment of various diseases, has recently been subject to investment from institutional investors and hedge funds. Legal & General Group Plc saw a 2.1% increase in its stake in Celldex Therapeutics during Q4 of 2022, now owning 17,215 shares valued at $767,000 after buying an additional 360 shares. Similarly, Arizona State Retirement System increased its stake by 3.9% and now owns 10,558 shares worth $471,000 after buying an additional 394 shares in the last quarter. Other notable institutional investors include Silverarc Capital Management LLC and First Trust Advisors LP; both acquired over 400 shares within the past year while Point72 Hong Kong Ltd demonstrated a significant increase in its stake by approximately 58%.
Several research firms have issued reports on CLDX recently with varying opinions regarding its performance within the market. HC Wainwright reaffirmed a “buy” rating and placed a target price of $73.00 per share while StockNews.com upgraded Celldex Therapeutics to a “sell” rating but reduced Cantor Fitzgerald’s price target from $55.00 to $54.00.
The biopharmaceutical company reported (-$0.62) earnings per share (EPS) for Q1 of fiscal year 2023 which exceeded the consensus estimate of (-$0.63) by precisely one penny despite having negative returns on equity and net margin.
A range of drug candidates are currently being developed by Celldex Therapeutics including CDX-0159; a Phase II monoclonal antibody that targets receptor tyrosine kinase KIT and inhibits its activity; CDX-1140; a human agonist monoclonal antibody aimed at CD40 which activates immune response found on dendritic cells, macrophages, and B cells as well as various cancer cells; and CDX-527 which uses anti-PD-L and CD27 human antibodies to encourage the activation of anti-tumor T cell responses through CD27 costimulation while simultaneously blocking PD-L1/PD-1 pathways.
The latest 13F filings and insider trades for Celldex Therapeutics, Inc. (NASDAQ:CLDX) can be found on HoldingsChannel.com. Analysts predict that Celldex Therapeutics, Inc. will post earnings per share of -$2.64 for the current fiscal year. Despite this market outlook, investment from institutional investors and hedge funds demonstrates confidence in Celldex Therapeutics’ drug candidates’ potential efficacy in treating inflammatory diseases and various forms of cancer.
