Celldex Therapeutics (CLDX) Reports Q3 Loss, Tops Revenue Estimates

Financial Performance - Celldex Therapeutics reported a quarterly loss of $0.64 per share, which was better than the Zacks Consensus Estimate of a loss of $0.69, and an improvement from a loss of $0.81 per share a year ago, indicating a 20.99% year-over-year improvement [1] - The company posted revenues of $3.19 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 121.60%, compared to revenues of $1.52 million in the same quarter last year [2] - Over the last four quarters, Celldex has surpassed consensus EPS estimates four times and topped consensus revenue estimates three times [2] Stock Performance - Celldex shares have declined approximately 35.9% since the beginning of the year, contrasting with the S&P 500's gain of 21.2% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.73 on revenues of $1.41 million, and for the current fiscal year, it is -$2.50 on revenues of $4.45 million [7] Industry Outlook - The Medical - Biomedical and Genetics industry, to which Celldex belongs, is currently ranked in the top 38% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]