10 Worst Cancer Stocks To Buy Now According to Short Sellers

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

Short % of Float: 13.06%

Number of Hedge Fund Holders: 34

Celldex Therapeutics, Inc. (NASDAQ:CLDX) is a biopharmaceutical company focused on developing therapeutic monoclonal and bispecific antibodies for various diseases and targeted immunotherapeutics for the treatment of cancer, infectious, and inflammatory diseases.

Celldex Therapeutics, Inc. (NASDAQ:CLDX) recently reported positive Phase 2 clinical trial results for its drug, barzolvolimab, demonstrating significant efficacy in treating chronic inducible urticaria (CIndU), a condition causing hives triggered by external stimuli. This success represents a major advancement toward offering a new treatment option for the estimated 0.5% of the population affected by CIndU.

Stifel initiated coverage on Celldex Therapeutics, Inc. (NASDAQ:CLDX) with a Buy rating, emphasizing the potential of barzolvolimab based on the promising Phase 2 results. Similarly, Wolfe Research assigned an Outperform rating to Celldex Therapeutics, Inc. (NASDAQ:CLDX), suggesting that the company may be an attractive candidate for mergers and acquisitions.

By the end of Q2 2024, 34 hedge funds held positions in Celldex Therapeutics, Inc. (NASDAQ:CLDX). Derrick Tang’s Kynam Capital was the largest hedge fund investor, with a stake valued at over $125.4 million.

6. Removed

The company at the 6th spot was removed because it wasn’t a pure play cancer stock.