Celsion Corporation (CLSN) Shares Up 7%
Celsion Corporation (NASDAQ:CLSN)’s share price shot up 7% during trading on Monday . The company traded as high as $2.21 and last traded at $2.14. 3,002,492 shares were traded during trading, an increase of 110% from the average session volume of 1,428,975 shares. The stock had previously closed at $2.00.
A number of brokerages recently commented on CLSN. Maxim Group restated a “hold” rating on shares of Celsion Corporation in a report on Tuesday, August 15th. Oppenheimer Holdings, Inc. started coverage on Celsion Corporation in a report on Tuesday. They issued an “outperform” rating and a $9.00 price objective for the company. ValuEngine upgraded Celsion Corporation from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st. Finally, Zacks Investment Research downgraded Celsion Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. Celsion Corporation has a consensus rating of “Buy” and an average target price of $11.90.
A hedge fund recently bought a new stake in Celsion Corporation stock. Sabby Management LLC acquired a new stake in shares of Celsion Corporation (NASDAQ:CLSN) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 108,843 shares of the biotechnology company’s stock, valued at approximately $223,000. Sabby Management LLC owned about 1.30% of Celsion Corporation at the end of the most recent reporting period. Hedge funds and other institutional investors own 6.41% of the company’s stock.
Celsion Corporation 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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