Celldex Therapeutics (CLDX) has more than doubled in less than nine months. In fact, the stock is currently trading at 2.3 times its September 2012 price. In an analyst interview in The Wall Street Transcript on September 17, 2012, Boris Peaker, an Executive Director and Senior Analyst at Oppenheimer & Co. covering the emerging biotechnology sector, had this to say about Celldex:
TWST: What are some of the most exciting or promising new drugs, treatments or technologies coming out of your companies right now that investors should be aware of?
Mr. Peaker: The oncology space is actually very rapidly evolving […] Studies often don’t take a very long period of time compared to some other indications, like figuring cholesterol and things like that […] So in the oncology space, some of the interesting new developments are Celldex as a new drug in breast cancer, which is targeting a completely novel target, which is certainly exciting with some of the early stages of development, but the initial data is very encouraging.
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CLDX common closed at $5.88 on September 14, 2012, before the above article was released to the general public. The current price is $13.95/share. Interestingly, SAC Capital, Steve Cohen’s beleaguered investment vehicle, owns over $45 million of Celldex, representing 8.9% of the company’s common shares, according to this SEC filing.
CLDX was included in this model biotech portfolio on September 26, 2012, and Boris Peaker has some more recent picks and insights detailed in this interview. The combination of a sell-off by SAC Capital as massive client redemption requests triggers stock sales from its portfolio and the long term nature of the FDA drug approval process may create some interesting buying opportunities in Celldex.
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