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Steve Cohen Increases Celldex Up 145%

By: GuruFocus
Posted: 4/6/2013 2:05:00 PM
Referenced Stocks: CLDX

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With its leading drug candidates for the treatment of brain cancer and breast cancer nearing the third and final phase of clinical trials, and with six more new drugs in the pipeline, Celldex Therapeutics Inc. ( CLDX ) is up 59% since January, and 145% over the last 12 months.

As of April 1, 2013 the SEC-weary SAC Capital Advisors founder Steve Cohen increased his Celldex Therapeutics ( CLDX ) position by 45.61%, putting his current shares at 3,931,355. The current price is $11.13, with a 0% change from average.

The company has a market cap of $897.07 million. The P/B ratio is 7.3, and the P/S ratio is 57.4713.

Here's a detailed analysis of Celldex Therapeutics Inc.

Cohen's history with the stock shows and average cost of $5 per share with a 123% gain since he bought in first quarter 2012.

His holding history:

Celldex Therapeutics, Inc. is a biopharmaceutical company focused on the development of immunotherapy technologies and drugs for the treatment of cancer and other difficult-to-treat diseases. The company calls itself "the first antibody-based combination immunotherapy company." With a product pipeline of eight cancer-fighting drug candidates in development, Celldex features a "Precision Targeted Immunotherapy Platform," a portfolio of antibodies, antibody-targeted vaccines and immunomodulators used in optimal combinations to create new and unique disease-specific drug candidates. Its lead drug candidate, known as CDX-110, targets a tumor-specific molecule, and is preparing to enter a Phase 3 clinical trial for one of the most aggressive forms of brain cancer. Drug candidate CDX-011 is currently undergoing evaluation in a Phase 2b clinical trial in advanced breast cancer.

Last month Celldex Therapeutics, Inc. reported a net loss of $16.8 million, or $0.27 per share, for the fourth quarter of 2012 compared to net loss of $12.7 million, or $0.29 per share, for the fourth quarter of 2011. For the twelve months ended Dec. 31, 2012, Celldex reported a net loss of $59.1 million, or $1.02 per share, compared to a net loss of $44.8 million, or $1.13 per share, for the twelve months ended Dec. 31, 2011. Celldex Therapeutics reported cash, cash equivalents and marketable securities of $84 million as of Dec. 31, 2012. Following recent financings, as of Feb. 28, 2013, Celldex had cash, cash equivalents and marketable securities of approximately $189 million.

Celldex Therapeutics CEO Anthony Marucci, said, "Celldex ended 2012 reporting positive data from four clinical programs at major medical meetings, including final results from our Phase 2b study of CDX-011 in metastatic breast cancer...Importantly, we begin 2013 well-financed with a current cash position that will support operations and clinical development through 2015. To that end, in addition to the CDX-011 accelerated approval study, we will also initiate new clinical studies and expansion studies for four other Celldex programs in 2013. We expect data from three clinical studies by year end..."

As of April 1, 2013, SAC Capital's portfolio shows 1585 stocks at a total value of $20.3 billion, and a quarter-over-quarter turnover of 42%.

Steven Cohen 's top buys, sells, and holdings:

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