Celularity (NASDAQ:CELU) Trading Up 3.3% – Time to Buy?

Celularity, Inc. (NASDAQ:CELU) shares shot up 3.3% on Wednesday . The stock traded as high as $0.8150 and last traded at $0.78. Approximately 23,376 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 133,087 shares. The stock had previously closed at $0.7550.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Celularity from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $6.00.

Celularity Stock Performance

The company has a 50-day simple moving average of $0.79 and a 200-day simple moving average of $1.08. The stock has a market cap of $22.20 million, a P/E ratio of -0.23 and a beta of 0.54.

Celularity (NASDAQ:CELU) last announced its earnings results on Thursday, April 30th. The company reported ($0.85) earnings per share for the quarter. The firm had revenue of $4.10 million during the quarter.

Hedge Funds Weigh In On Celularity

A number of institutional investors have recently modified their holdings of CELU. XTX Topco Ltd bought a new stake in shares of Celularity during the fourth quarter valued at approximately $33,000. Acadian Asset Management LLC acquired a new position in Celularity during the 1st quarter worth $34,000. Jane Street Group LLC bought a new position in Celularity in the 4th quarter valued at $46,000. Bank of America Corp DE increased its stake in shares of Celularity by 1,538.1% in the 2nd quarter. Bank of America Corp DE now owns 37,300 shares of the company’s stock valued at $73,000 after buying an additional 35,023 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Celularity by 15.0% in the 4th quarter. Geode Capital Management LLC now owns 160,190 shares of the company’s stock valued at $178,000 after buying an additional 20,876 shares during the period. 19.02% of the stock is owned by institutional investors.

About Celularity

Celularity, Inc is a clinical-stage biotechnology company focused on the development of allogeneic, placenta-derived cell therapies and exosome-based biologics for oncology, regenerative medicine and immune-driven conditions. Utilizing a proprietary platform that harnesses the unique properties of postpartum placental cells, the company aims to create off-the-shelf therapies that can be administered without the need for tissue matching or conditioning regimens.

The company’s pipeline includes a range of natural killer (NK) cell products, mesenchymal-like placental stromal cells and exosome formulations designed to modulate inflammatory responses and target tumor cells.