Celsion Corporation (CLSN) Cut to “Strong Sell” at ValuEngine

Celsion Corporation (NASDAQ:CLSN) was downgraded by equities researchers at ValuEngine from a “sell” rating to a “strong sell” rating in a report issued on Wednesday.

Other equities research analysts have also recently issued reports about the company. Maxim Group upgraded Celsion Corporation from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research note on Wednesday, October 4th. Zacks Investment Research upgraded Celsion Corporation from a “hold” rating to a “buy” rating and set a $1.50 price target for the company in a research note on Tuesday, August 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $12.63.

Celsion Corporation (NASDAQ:CLSN) traded down $0.11 during trading on Wednesday, reaching $2.01. The company’s stock had a trading volume of 3,123,000 shares, compared to its average volume of 1,431,305. Celsion Corporation has a 52 week low of $1.24 and a 52 week high of $12.60.

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A hedge fund recently bought a new stake in Celsion Corporation stock. Sabby Management LLC purchased a new stake in Celsion Corporation (NASDAQ:CLSN) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 108,843 shares of the biotechnology company’s stock, valued at approximately $223,000. Sabby Management LLC owned about 1.30% of Celsion Corporation as of its most recent filing with the Securities & Exchange Commission. 5.66% of the stock is owned by hedge funds and other institutional investors.

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).

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