Shares of Celldex Therapeutics Inc. (NASDAQ: CLDX), a biopharmaceutical company engaged in the development and commercialization of several immunotherapy technologies for the treatment of cancer and other difficult-to-treat diseases, surged in trading on Friday.
CLDX shares ended the day 14.05% higher at $21.27 on above average volume of 6.48 million. The stock hit a 52-week high of $21.42. CLDX shares have gained more than 30% in the last three trading sessions.
Earlier this week, CLDX announced that it initiated pilot study in dense deposits disease (DDD). The company said that the first patient in its pilot study of CDX-1135 in DDD has been dosed.
Dr. Thomas Davis, Chief Medical Officer of Celldex, said that based on research to date in dense deposit disease and other indications, the company believes CDX-1135 has the potential to play an important role in complement mediated diseases, uniquely in indications where the C3 Convertase is very active leading to consumption of C3 and deposition of harmful breakdown products onto the kidney.
Shares of ARMOUR Residential REIT Inc. (NYSE: ARR), an externally-managed Maryland corporation managed by ARMOUR Residential REIT Inc., fell sharply in trading on Friday. ARR shares ended the day 8.24% lower at $4.23 on above average volume of 18.96 million. The stock hit a 52-week low of $4.14.
Last month, ARR announced dividend rate of $0.07 per share for the third quarter of 2013. The company said last month that it expects its REIT taxable income for the second quarter of 2013 to exceed dividends paid during the period.
Back in May, ARMOUR Residential REIT had reported estimated taxable REIT income of approximately $86 million. The company’s core income for the quarter stood at $67.5 million, or $0.20 per share. The company’s GAAP income for the quarter was $102.3 million, or $0.29 per share.
Shares of First Bancorp (NYSE: FBP), a provider of financial services and products with operations in Puerto Rico, the U.S. and the U.S. and British Virgin Islands, rose sharply on Friday. FBP shares ended the day 8.49% higher at $7.67 on above average volume of 690,523. The stock hit a 52-week high of $7.67 on Friday.
Last month, FBP announced the sale of non-performing residential mortgage loans with an unpaid principal balance of $236.6 million, as well as other real estate owned (OREO) properties with an appraised value of $22.3 million. Aurelio Aleman, President and CEO of First Bancorp, said that the company continues to aggressively address credit issues in legacy loans during this persistently challenging economic environment. Aleman further said that the company made great strides over the last two quarters through opportunistic loan sales and these transactions have greatly improved the company’s credit risk profile. Aleman added that the company’s capital position remains strong.
Shares of M.D.C. Holdings Inc. (NYSE: MDC), a Denver, Colorado-based homebuilder, plunged on Friday. The stock hit a 52-week low of $29.86 before finishing the day 6.66% lower at $29.99 on above average volume of 2 million. MDC shares have fallen 7.72% in the last three trading sessions.
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