of 1.1 MM shares after hitting new 52 week high just over $14 yesterday (mid-day) on two consecutive days with 1.8MM shares traded. We were due for a cooling off period. Question is how much cooling off is needed before we make another run at $14 resistance?
The real testing range, I believe will be 15-20,00 range , where it will be played with and consolidating for a Long period of (till end of third quarter at the very least). By fourth or end of fourth quarter we should begin to see 25-40+ range as mfg capabilities, cash flow and advancing (some early approval) pipeline line and new areas of development and present and expanding partnersrhips (new indications) and what this ACTUALLY represents as a game changer in the Immunotherapeutic world (2014-2016) come to fruition. The one concern is we are inching closer to a new global recession as Mideast war and North Korea realities have to (one way or another) be played out.
It will be interesting to see how long it takes to go from closing high of 14-20. The average time for ~25-30% incremental increases over this 18 month runs is ~3 months. $3-4 (1month), $4-5 (5 months), $5-7 (6 months), $7-9 (1 month), $9-12 (1 months), We've also moved from 12-14 in only 1/2 month. That's only about half the increment in this sample, but Celldex is on track to actually be at 16 by the end of the first week in May at the earliest and the end of June at the latest. This is just a back of the envelope calculation using historical average information, but if Celldex stays on the same trajectory (and I don't see any reason Celldex would not), then we will be in the high-teen playing field very soon and as you mention this will be important testing range to see if Celldex can punch through the $2BB market cap barrier. I think they will need another high-probability of success drug (in addition to Rindo and CDX-011) moving signficantly forward in the pipeline for this to move over $25 this year, breakthrough status or partnership deal not withstanding of course (then all bets are off)