Short Interest in Celsion Corporation (CLSN) Grows By 88.9%
Celsion Corporation (NASDAQ:CLSN) was the recipient of a significant increase in short interest in the month of October. As of October 13th, there was short interest totalling 1,453,427 shares, an increase of 88.9% from the September 29th total of 769,436 shares. Based on an average daily volume of 16,331,885 shares, the days-to-cover ratio is presently 0.1 days. Currently, 18.0% of the shares of the company are sold short.
Celsion Corporation (NASDAQ:CLSN) opened at 2.86 on Friday. The company’s market capitalization is $23.88 million. Celsion Corporation has a 12 month low of $0.19 and a 12 month high of $6.06. The company has a 50-day moving average price of $2.71 and a 200 day moving average price of $1.74.
Several brokerages recently commented on CLSN. Maxim Group reaffirmed a “hold” rating on shares of Celsion Corporation in a research report on Tuesday, August 15th. Zacks Investment Research cut Celsion Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Finally, ValuEngine raised Celsion Corporation from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Celsion Corporation currently has a consensus rating of “Hold” and a consensus price target of $12.63.
A hedge fund recently raised its stake in Celsion Corporation stock. Renaissance Technologies LLC raised its position in Celsion Corporation (NASDAQ:CLSN) by 100.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,375,147 shares of the biotechnology company’s stock after buying an additional 690,349 shares during the quarter. Renaissance Technologies LLC owned 2.48% of Celsion Corporation worth $397,000 at the end of the most recent reporting period. 7.46% of the stock is currently owned by institutional investors and hedge funds.
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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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