Is Celldex Therapeutics, Inc. (NASDAQ:CLDX) ready to raly soon? Money managers are selling. The number of bullish hedge fund bets stayed the same which is a slightly negative development in our experience
To the average investor, there are dozens of gauges shareholders can use to monitor their holdings. A couple of the most useful are hedge fund and insider trading activity. At Insider Monkey, our studies have shown that, historically, those who follow the best picks of the elite fund managers can outclass the S&P 500 by a healthy amount (see just how much).
Just as important, bullish insider trading activity is a second way to break down the marketplace. Obviously, there are lots of motivations for a corporate insider to sell shares of his or her company, but only one, very obvious reason why they would buy. Many empirical studies have demonstrated the market-beating potential of this tactic if you understand what to do (learn more here).
Now, we're going to take a glance at the key action encompassing Celldex Therapeutics, Inc. (NASDAQ:CLDX).
In preparation for this year, a total of 12 of the hedge funds we track were bullish in this stock, a change of 0% from one quarter earlier. With hedge funds' positions undergoing their usual ebb and flow, there exists a select group of noteworthy hedge fund managers who were upping their holdings meaningfully.
According to our comprehensive database, Steven Cohen's SAC Capital Advisors had the largest position in Celldex Therapeutics, Inc. (NASDAQ:CLDX), worth close to $18 million, comprising 0.1% of its total 13F portfolio. Sitting at the No. 2 spot is Arthur B Cohen and Joseph Healey of Healthcor Management LP, with a $14 million position; 0% of its 13F portfolio is allocated to the stock. Remaining hedgies that are bullish include Jean-Marie Eveillard's First Eagle Investment Management, Donald Chiboucis's Columbus Circle Investors and D. E. Shaw's D E Shaw.
Judging by the fact that Celldex Therapeutics, Inc. (NASDAQ:CLDX) has experienced declining sentiment from the smart money, we can see that there is a sect of money managers who were dropping their positions entirely at the end of the year. Intriguingly, Wayne Holman's Ridgeback Capital Management dumped the biggest position of all the hedgies we monitor, comprising about $18 million in stock., and Mike Vranos of Ellington was right behind this move, as the fund dropped about $0 million worth. These transactions are important to note, as total hedge fund interest stayed the same (this is a bearish signal in our experience).
Insider buying is most useful when the company in focus has seen transactions within the past half-year. Over the latest 180-day time frame, Celldex Therapeutics, Inc. (NASDAQ:CLDX) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).
With the results demonstrated by our time-tested strategies, everyday investors must always keep an eye on hedge fund and insider trading sentiment, and Celldex Therapeutics, Inc. (NASDAQ:CLDX) is an important part of this process.
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