Celsion Corporation (CLSN) Stock Price Down 6% After Earnings Miss

Celsion Corporation (NASDAQ:CLSN) was down 6% during trading on Tuesday following a weaker than expected earnings announcement. The stock traded as low as $1.80 and last traded at $2.12. Approximately 6,094,500 shares changed hands during mid-day trading, an increase of 328% from the average daily volume of 1,423,527 shares. The stock had previously closed at $2.00.

The biotechnology company reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.14). Celsion Corporation had a negative net margin of 4,440.60% and a negative return on equity of 276.51%.

Several equities analysts have recently commented on CLSN shares. Maxim Group upgraded shares of Celsion Corporation from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a research report on Wednesday, October 4th. Zacks Investment Research upgraded shares of Celsion Corporation from a “hold” rating to a “buy” rating and set a $1.50 target price for the company in a research report on Tuesday, August 29th. Finally, ValuEngine upgraded shares of Celsion Corporation from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $12.63.

An institutional investor recently bought a new position in Celsion Corporation stock. Sabby Management LLC bought a new position in shares of Celsion Corporation (NASDAQ:CLSN) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 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. 5.66% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION WARNING: This piece of content was reported by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this piece of content on another publication, it was stolen and republished in violation of U.S. and international trademark and copyright laws. The correct version of this piece of content can be viewed at https://sportsperspectives.com/2017/11/15/celsion-corporation-clsn-stock-price-down-6-after-earnings-miss.html.

About Celsion Corporation

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).

Receive News & Ratings for Celsion Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celsion Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply