10 Most Promising Small-Cap Stocks According to Hedge Funds

4. Celldex Therapeutics, Inc. (NASDAQ:CLDX)

Number of Hedge Fund Holders: 34

Market Capitalization as of October 10, 2024: $1.99 Billion

Celldex Therapeutics, Inc. (NASDAQ:CLDX) is one of the most promising small-cap stocks to buy according to hedge funds. The biopharmaceutical company develops monoclonal and bispecific antibodies that tackle diseases with inadequate treatments available.

On the financial front, Celldex Therapeutics, Inc. (NASDAQ:CLDX) logged $2.5 million in revenue in the second quarter of 2024, up from $0.3 million in the same quarter in 2023. In addition to that, the company spent nearly $40 million on research and development. Expenses were dedicated to the clinical trials of its humanized monoclonal antibody, Barzolvolimab.

2024 has been quite a year for Celldex Therapeutics, Inc. (NASDAQ:CLDX). So far, the company has initiated several studies, commenced phase 3 and 2 trials for some of its drugs, and presented data to showcase the clinical benefits of its drug that treats urticaria. As the year comes to an end, the company is committed to developing a drug for inflammatory diseases.

The company has several developments in its pipeline. Moreover, Celldex Therapeutics, Inc. (NASDAQ:CLDX) is also well capitalized with $800 million locked in to support these programs. If these drugs pass trials and reach the market, the company may be able to position itself as an emerging leader in pharmaceuticals. 34 hedge funds were bullish on the stock at the end of Q2 2024.