Is Celldex Therapeutics, Inc. (CLDX) a Good Stock To Buy?

Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that cut their entire stakes in the stock during the third quarter. Interestingly, First Eagle Investment Management cut the biggest position of all the investors monitored by Insider Monkey, worth an estimated $2 million in stock, and Ken Griffin’s Citadel Investment Group was right behind this move, as the fund dropped about $0.5 million worth of shares.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Celldex Therapeutics, Inc. (NASDAQ:CLDX) but similarly valued. We will take a look at On Deck Capital Inc (NYSE:ONDK), Green Brick Partners Inc (NASDAQ:GRBK), Dynavax Technologies Corporation (NASDAQ:DVAX), and BioTime, Inc. (NYSEAMEX:BTX). This group of stocks’ market values match CLDX’s market value.

As you can see these stocks had an average of 12 investors with bullish positions and the average amount invested in these stocks was $147 million. That figure was just $20 million in CLDX’s case. Dynavax Technologies Corporation (NASDAQ:DVAX) is the most popular stock in this table with 22 funds holding shares. On the other hand BioTime, Inc. (NYSEAMEX:BTX) is the least popular one with only seven bullish hedge fund positions. Celldex Therapeutics, Inc. (NASDAQ:CLDX) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard, Dynavax Technologies Corporation (NASDAQ:DVAX) might be a better candidate to consider taking a long position in.

Disclosure: none