Celldex Therapeutics Plunges 11.85% as Corebridge Financial Cuts Stake

On April 7, 2025, Celldex Therapeutics experienced a significant drop of 11.85% in pre-market trading, reflecting a notable decline in investor sentiment.

Corebridge Financial Inc. reduced its stake in Celldex Therapeutics by 7.0% during the fourth quarter, which may have contributed to the recent decline in the company's stock price. This reduction in holdings by a major institutional investor can often signal a lack of confidence in the company's future prospects, leading to a sell-off by other investors.

While the specific reasons behind Corebridge Financial's decision to trim its position in Celldex Therapeutics are not clear, such moves by large investors can have a ripple effect on the market, causing other investors to reassess their own holdings in the company. This can result in increased selling pressure and a further decline in the stock price.