Celldex Therapeutics Shares Fall After Phase 3 Readout Despite Positive Trial Results

Celldex Therapeutics (CLDX) is down 11.6% today. Here is some analysis on what might have caused this price movement.

Analysis: The move appears tied to investor reaction after a closely watched clinical catalyst rather than to clearly negative trial news. Celldex announced that barzolvolimab met the primary and all key secondary endpoints in both Phase 3 EMBARQ-CSU studies, so the decline could be because expectations were already very high and some investors used the data release as a profit-taking event.

Details:

Celldex said barzolvolimab met the primary endpoint in both EMBARQ-CSU1 and EMBARQ-CSU2, with statistically significant improvement in weekly urticaria activity scores at Week 12.

The company also highlighted strong complete response rates and said benefits were seen in patients whose disease was refractory to omalizumab, as well as in patients with severe angioedema.

Management said the treatment was well tolerated through 24 weeks, both studies will continue through 52 weeks, and a biologics license application is planned for 2027.

Earlier company filings had already signaled that this Phase 3 CSU readout was a major late-2026 catalyst, which may have led to a run-up in expectations before the announcement and a sell-the-news reaction once results arrived.

Sources:

Celldex Therapeutics, SEC, ClinicalTrials.gov

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$CLDX Hedge Fund Activity

We have seen 148 institutional investors add shares of $CLDX stock to their portfolio, and 86 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

POINT72 ASSET MANAGEMENT, L.P. removed 3,112,722 shares (-96.4%) from their portfolio in Q2 2026, for an estimated $115,824,385
PRICE T ROWE ASSOCIATES INC /MD/ added 2,598,891 shares (+124.6%) to their portfolio in Q2 2026, for an estimated $96,704,734
DEEP TRACK CAPITAL, LP added 1,655,172 shares (+128.9%) to their portfolio in Q2 2026, for an estimated $61,588,950
LOGOS GLOBAL MANAGEMENT LP added 1,650,000 shares (+366.7%) to their portfolio in Q2 2026, for an estimated $61,396,500
BLACKROCK, INC. added 1,632,645 shares (+30.4%) to their portfolio in Q2 2026, for an estimated $60,750,720
BRAIDWELL LP removed 1,421,463 shares (-76.5%) from their portfolio in Q2 2026, for an estimated $52,892,638
COMMODORE CAPITAL LP removed 1,346,616 shares (-49.9%) from their portfolio in Q2 2026, for an estimated $50,107,581

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$CLDX Price Targets

Multiple analysts have issued price targets for $CLDX recently. We have seen 4 analysts offer price targets for $CLDX in the last 6 months, with a median target of $46.5.

Here are some recent targets:

Joseph Pantginis from HC Wainwright & Co. set a target price of $42.0 on 06/15/2026
David Dai from UBS set a target price of $45.0 on 06/10/2026
Derek Archila from Wells Fargo set a target price of $54.0 on 05/13/2026
Etzer Darout from Barclays set a target price of $48.0 on 05/08/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.