A History of Outperforming Analyst Forecasts and Beating the Odds: Celldex Therapeutics Inc. (CLDX)

Celldex Therapeutics Inc. (NASDAQ: CLDX) stock jumped 10.82% on Friday to $34.40 against a previous-day closing price of $31.04. With 1.02 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.85 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $34.40 whereas the lowest price it dropped to was $31.01. The 52-week range on CLDX shows that it touched its highest point at $57.20 and its lowest point at $19.85 during that stretch. It currently has a 1-year price target of $66.80. Beta for the stock currently stands at 2.49.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CLDX was up-trending over the past week, with a rise of 10.12%, but this was up by 43.39% over a month. Three-month performance surged to 7.07% while six-month performance rose 12.90%. The stock lost -23.28% in the past year, while it has lost -10.97% so far this year. A look at the trailing 12-month EPS for CLDX yields -1.71 with Next year EPS estimates of -2.27. For the next quarter, that number is -0.51. This implies an EPS growth rate of 18.40% for this year and -12.80% for next year.

Float and Shares Shorts:

At present, 46.74 million CLDX shares are outstanding with a float of 46.66 million shares on hand for trading. On Jul 14, 2022, short shares totaled 3.81 million, which was 8.15% higher than short shares on Jun 14, 2022. In addition to Mr. Anthony S. Marucci M.B.A. as the firm’s Founder, Pres, CEO & Director, Dr. Tibor Keler serves as its Founder, Chief Scientific Officer & Exec. VP.

Institutional Ownership:

Through their ownership of 109.23% of CLDX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 57.38% of CLDX, in contrast to 46.53% held by mutual funds. Shares owned by individuals account for 0.21%. As the largest shareholder in CLDX with 12.06% of the stake, Fidelity Management & Research Co holds 5,637,103 shares worth 5,637,103. A second-largest stockholder of CLDX, Wellington Management Co. LLP, holds 3,529,840 shares, controlling over 7.55% of the firm’s shares. RTW Investments LP is the third largest shareholder in CLDX, holding 3,084,215 shares or 6.60% stake. With a 5.01% stake in CLDX, the SPDR S&P Biotech ETF is the largest stakeholder. A total of 2,341,895 shares are owned by the mutual fund manager. The Eventide Healthcare & Life Scienc, which owns about 3.09% of CLDX stock, is the second-largest Mutual Fund holder. It holds 1,445,700 shares valued at 38.98 million. Vanguard Total Stock Market Index holds 2.98% of the stake in CLDX, owning 1,391,112 shares worth 37.5 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CLDX since 6 analysts follow the stock currently. There are 6 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CLDX analysts setting a high price target of $73.00 and a low target of $59.00, the average target price over the next 12 months is $67.00. Based on these targets, CLDX could surge 112.21% to reach the target high and rise by 71.51% to reach the target low. Reaching the average price target will result in a growth of 94.77% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CLDX will report FY 2022 earnings on 03/09/2023. Analysts have provided yearly estimates in a range of -$1.85 being high and -$2.11 being low. For CLDX, this leads to a yearly average estimate of -$2.00. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Celldex Therapeutics Inc. surprised analysts by -$0.04 when it reported -$0.49 EPS against a consensus estimate of -$0.45. The surprise factor in the prior quarter was -$0.01. Based on analyst estimates, the high estimate for the next quarter is -$0.26 and the low estimate is -$0.53. The average estimate for the next quarter is thus -$0.46.

Summary of Insider Activity:

Insiders traded CLDX stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 18 while that of sell transactions has risen to 16 over the past year. The total number of shares bought during that period was 80,982 while 50,501 shares were sold.

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