Stock Update (NASDAQ:CLDX): Celldex Therapeutics Announces Proposed Public Offering of Common Stock


Celldex Therapeutics, Inc. (NASDAQ:CLDX) announced that it is offering 7.25 million shares of its common stock in a proposed underwritten public offering. The offering is subject to market conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. The shares will be issued pursuant to a prospectus supplement to be filed as part of a shelf registration statement filed with the Securities and Exchange Commission (SEC) on Form S-3.

Shares of Celldex Therapeutics closed today at $25.48. CLDX has a 1-year high of $33.33 and a 1-year low of $10.76. The stock’s 50-day moving average is $20.65 and it’s 200-day moving average is $17.14.

On the ratings front, Celldex has been the subject of a number of recent research reports. In a report released today, Brean Murray Carret analyst Jonathan Aschoff maintained a Buy rating on CLDX, with a price target of $35, which implies an upside of 42.9% from current levels. Separately, yesterday, Cowen’s Boris Peaker maintained a Buy rating on the stock and has a price target of $26.

Celldex Therapeutics, Inc., is a biopharmaceutical company focused on the development and commercialization of several immunotherapy technologies for the treatment of cancer and other difficult-to-treat diseases.