Cellectis (NASDAQ:CLLS) Share Price Crosses Below 50-Day Moving Average – Here’s Why

Shares of Cellectis S.A. (NASDAQ:CLLS) passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $1.61 and traded as low as $1.39. Cellectis shares last traded at $1.40, with a volume of 59,824 shares.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. StockNews.com assumed coverage on Cellectis in a research report on Thursday. They set a “buy” rating on the stock. Barclays lowered their price target on Cellectis from $7.00 to $5.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th.

Cellectis Stock Up 0.6 %

The company has a debt-to-equity ratio of 0.48, a current ratio of 1.78 and a quick ratio of 1.78. The firm has a market cap of $77.82 million, a price-to-earnings ratio of -1.08 and a beta of 3.06. The business has a fifty day simple moving average of $1.61 and a 200 day simple moving average of $1.89.

Institutional Investors Weigh In On Cellectis

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. B Group Inc. acquired a new stake in shares of Cellectis in the fourth quarter valued at approximately $5,547,000. Millennium Management LLC acquired a new stake in Cellectis during the fourth quarter worth $962,000. Finally, Wells Fargo & Company MN increased its stake in Cellectis by 103.4% during the fourth quarter. Wells Fargo & Company MN now owns 24,590 shares of the biotechnology company’s stock worth $44,000 after acquiring an additional 12,500 shares during the last quarter. Institutional investors and hedge funds own 63.90% of the company’s stock.

About Cellectis

Cellectis SA, a clinical stage biotechnological company, develops immuno-oncology products based on gene-edited T-cells that express chimeric antigen receptors to target and eradicate cancer cells. The company is developing UCART19, an allogeneic T-cell product candidate for the treatment of CD19-expressing hematologic malignancies, such as acute lymphoblastic leukemia; ALLO-501 and ALLO-501A to treat relapsed or refractory for non-hodgkin lymphoma (NHL); and ALLO-715 for the treatment of multiple myeloma.