Celsion Corporation (CLSN) Short Interest Down 57.6% in October

Celsion Corporation (NASDAQ:CLSN) saw a large decrease in short interest in October. As of October 31st, there was short interest totalling 616,155 shares, a decrease of 57.6% from the October 13th total of 1,453,427 shares. Approximately 5.7% of the company’s shares are short sold. Based on an average daily volume of 1,442,052 shares, the short-interest ratio is currently 0.4 days.

A hedge fund recently bought a new stake in Celsion Corporation stock. Sabby Management LLC acquired a new stake in shares of Celsion Corporation (NASDAQ:CLSN) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 108,843 shares of the biotechnology company’s stock, valued at approximately $223,000. Sabby Management LLC owned approximately 1.30% of Celsion Corporation as of its most recent filing with the Securities and Exchange Commission. 5.66% of the stock is owned by institutional investors and hedge funds.

Shares of Celsion Corporation (NASDAQ CLSN) opened at $2.00 on Monday. Celsion Corporation has a 12 month low of $1.24 and a 12 month high of $12.88.

Several brokerages recently issued reports on CLSN. Maxim Group reiterated a “hold” rating on shares of Celsion Corporation in a research note on Tuesday, August 15th. Zacks Investment Research lowered shares of Celsion Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Finally, ValuEngine upgraded shares of Celsion Corporation from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. One research 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’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $12.63.

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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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