Celsion Corporation (NASDAQ:CLSN)’s share price dropped 7.7% during trading on Monday . The company traded as low as $2.60 and last traded at $2.64. Approximately 1,185,842 shares traded hands during trading, a decline of 26% from the average daily volume of 1,605,263 shares. The stock had previously closed at $2.86.

CLSN has been the subject of a number of analyst reports. Maxim Group reissued a “hold” rating on shares of Celsion in a research report on Tuesday, August 15th. Zacks Investment Research raised Celsion from a “hold” rating to a “buy” rating and set a $1.50 price objective for the company in a research report on Tuesday, August 29th. ValuEngine raised Celsion from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st. Finally, Oppenheimer initiated coverage on Celsion in a research report on Tuesday, November 21st. They set an “outperform” rating and a $9.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $11.90.

An institutional investor recently raised its position in Celsion stock. Renaissance Technologies LLC raised its position in Celsion Corporation (NASDAQ:CLSN) by 100.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,375,147 shares of the biotechnology company’s stock after buying an additional 690,349 shares during the quarter. Renaissance Technologies LLC owned approximately 2.48% of Celsion worth $397,000 as of its most recent filing with the Securities and Exchange Commission. 4.15% of the stock is owned by institutional investors.

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Celsion Company Profile

Celsion Corporation is an oncology drug development company. The Company’s product candidate is ThermoDox, a heat-activated liposomal encapsulation of doxorubicin, which is in Phase III clinical trial for treatment of primary liver cancer (the OPTIMA Study) and a Phase II clinical trial for treatment of recurrent chest wall breast cancer (the DIGNITY Study).

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