Celsion (CLSN) Shares Gap Up to $2.72

Celsion Co. (NASDAQ:CLSN)’s share price gapped up before the market opened on Friday . The stock had previously closed at $2.36, but opened at $2.72. Celsion shares last traded at $2.78, with a volume of 2916000 shares changing hands.

Several research firms have recently weighed in on CLSN. Zacks Investment Research raised Celsion from a “sell” rating to a “hold” rating in a research report on Tuesday, December 19th. ValuEngine raised Celsion from a “strong sell” rating to a “sell” rating in a research report on Saturday, December 9th. Oppenheimer began coverage on Celsion in a research report on Tuesday, November 21st. They set an “outperform” rating and a $9.00 target price on the stock. Finally, Maxim Group raised Celsion from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a research report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $11.90.

The company has a market cap of $44.71, a PE ratio of -0.47 and a beta of 1.22.

A hedge fund recently bought a new stake in Celsion stock. Sabby Management LLC acquired a new stake in Celsion Co. (NASDAQ:CLSN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 108,843 shares of the biotechnology company’s stock, valued at approximately $223,000. Sabby Management LLC owned about 1.30% of Celsion as of its most recent SEC filing. 3.97% of the stock is currently owned by institutional investors and hedge funds.

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About Celsion

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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