A look back at Celldex recent stock price catalysts
Catalyst a) over the last 3 weeks of November 2012 Celldex price ran up from just over $5/share to just over $6 (up~20%) in anticipation of the CDX-011 final data. Noteworthy, was the short selling in the week prior to the data release that did briefly drop the price to just over $5.50 right before the data release. Catalyst b) CDX-011 data final phase II data release on December 10th sent share up to just over $7 (up ~25%) before trading in a high $6 range through the three weeks leading to the end of the year. Catalyst c) Fiscal cliff resolution on January 2nd was good for additional 25 cents (up ~5%). Catalyst d) Cantor increased price target to $13 January 10th added additional 25 cents (up ~3.5%). Catalyst e) Roth Capital price target upgrade to $16 in January 23rd provided incremental increase that has been given up over the last week. So , in summary Celldex stock price in last 12 weeks (from early November to end of January) has increase from $5 to $7.25 (~45% up) on these catalysts and f) the hidden catalyst of growing balance sheet due to the Cantor ATM facility raising ~40 million in cash over this time period. I’d say this would classify Celldex as a hot biotech stock.