Celsion (NASDAQ:CLSN) Stock Price Up 15.4% After Better-Than-Expected Earnings

Shares of Celsion Co. (NASDAQ:CLSN) rose 15.4% during mid-day trading on Monday following a better than expected earnings announcement. The stock traded as high as $1.43 and last traded at $1.42, approximately 205,000 shares traded hands during mid-day trading. An increase of 55% from the average daily volume of 132,045 shares. The stock had previously closed at $1.23.

The biotechnology company reported ($0.25) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $0.05. Celsion had a negative net margin of 1,653.20% and a negative return on equity of 54.00%. The firm had revenue of $0.13 million during the quarter, compared to analysts’ expectations of $0.13 million.

CLSN has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Celsion from a “hold” rating to a “sell” rating in a research report on Wednesday, October 16th. ValuEngine upgraded shares of Celsion from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Brookline Capital Management restated a “buy” rating on shares of Celsion in a research report on Thursday, July 25th.

A hedge fund recently raised its stake in Celsion stock. Vanguard Group Inc. increased its position in shares of Celsion Co. (NASDAQ:CLSN) by 43.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 704,651 shares of the biotechnology company’s stock after purchasing an additional 211,779 shares during the period. Vanguard Group Inc. owned 3.44% of Celsion worth $1,282,000 at the end of the most recent quarter. 5.33% of the stock is owned by institutional investors and hedge funds.

The company has a quick ratio of 3.47, a current ratio of 3.47 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $30.58 million, a price-to-earnings ratio of -2.09 and a beta of 1.93. The company’s 50-day moving average is $1.62 and its 200-day moving average is $1.80.

Celsion Company Profile (NASDAQ:CLSN)

Celsion Corporation, a development stage oncology drug company, focuses on the development and commercialization of directed chemotherapies, DNA-mediated immunotherapy, and RNA based therapies for the treatment of cancer. Its lead product candidate is ThermoDox, a liposomal encapsulation of doxorubicin that is in Phase III clinical trial for treating primary liver cancer.

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