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Investors look to Lighten Up on Shares of Celldex Therapeu, Shares Down 53.5% (CLDX)

By Nick Russo

Celldex Therapeu (NASDAQ:CLDX) is one of today's worst performing low-priced stocks, down 53.5% to $1.00 on 1.9x average daily volume. Celldex Therapeu has traded 7.0 million shares thus far today, vs. average volume of 3.6 million shares per day. The stock has outperformed the Dow (-53.5% to the Dow's -100.0%) and underperformed the S&P 500 (-53.5% to the S&P's 0.5%) during today's trading.

In the past 52 weeks, shares of Celldex Therapeu have traded between the current low of $0.99 and a high of $5.02 and are now at $1.00. In the last five trading sessions, the 50-day moving average (MA) has fallen 5.1% while the 200-day MA has slid 3.7%.

Celldex Therapeu has overhead space with shares priced $1.00, or 87.5% below the average consensus analyst price target of $8.00. The stock should run into initial resistance at its 50-day moving average (MA) of $4.47 and subsequent resistance at its 200-day MA of $11.72.

Celldex Therapeutics Inc., a biopharmaceutical company, uses applications of immunology to prevent and treat diseases. The Company's products treat autoimmune diseases, cardiovascular diseases, cancer, and inflammation, as well as infectious diseases and organ transplant rejection.

SmarTrend is monitoring the recent change of momentum in Celldex Therapeu. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Celldex Therapeu in search of a potential trend change.

Keywords: penny stocks celldex therapeu

Ticker(s): CLDX