Cellectis (NASDAQ:CLLS) Share Price Passes Above 50-Day Moving Average - Here's Why

Key Points

• Cellectis shares rose 4.1%, trading at $3.56 after briefly reaching $3.60 and moving above the 50-day average of $2.97. The stock remains near its 200-day average of $3.40.
• Analyst sentiment is broadly positive, with an average “Moderate Buy” rating and a consensus price target of $7.00; Barclays initiated coverage with an “overweight” rating and a $9.00 target, although Weiss Ratings reiterated a sell rating.
• Cellectis exceeded quarterly EPS expectations, reporting a loss of $0.22 per share versus the expected $0.26 loss, but revenue of $6.9 million fell short of the $11.05 million forecast. Institutional investors own 63.9% of the company.

Shares of Cellectis S.A. (NASDAQ:CLLS - Get Free Report) crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $2.97 and traded as high as $3.60. Cellectis shares last traded at $3.56, with a volume of 10,170 shares.

Analysts Set New Price Targets

A number of analysts recently issued reports on CLLS shares. Barclays began coverage on Cellectis in a report on Thursday, May 28th. They set an "overweight" rating and a $9.00 price objective on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Cellectis in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Cellectis has an average rating of "Moderate Buy" and an average price target of $7.00.

Cellectis Stock Up 4.1%

The stock's 50-day moving average price is $2.97 and its two-hundred day moving average price is $3.40. The stock has a market capitalization of $357.21 million, a PE ratio of -5.48 and a beta of 2.91. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.37 and a current ratio of 1.37.

Cellectis (NASDAQ:CLLS - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.04. Cellectis had a negative return on equity of 94.19% and a negative net margin of 102.34%.The company had revenue of $6.90 million for the quarter, compared to analysts' expectations of $11.05 million.

Institutional Trading of Cellectis

Several institutional investors and hedge funds have recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Cellectis by 228.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,722,664 shares of the biotechnology company's stock valued at $5,856,000 after acquiring an additional 3,284,409 shares during the period. Acadian Asset Management LLC grew its position in shares of Cellectis by 132.9% during the first quarter. Acadian Asset Management LLC now owns 46,377 shares of the biotechnology company's stock worth $55,000 after purchasing an additional 26,461 shares in the last quarter. Virtu Financial LLC bought a new stake in Cellectis during the 3rd quarter valued at approximately $72,000. Citadel Advisors LLC purchased a new position in Cellectis in the 3rd quarter worth approximately $633,000. Finally, Millennium Management LLC lifted its holdings in Cellectis by 61.9% in the 3rd quarter. Millennium Management LLC now owns 57,740 shares of the biotechnology company's stock worth $165,000 after purchasing an additional 22,080 shares in the last quarter. 63.90% of the stock is currently owned by institutional investors.

Cellectis Company Profile

Cellectis is a clinical‐stage biopharmaceutical company specializing in the development of gene‐edited cell therapies for oncology. Founded in 1999 and headquartered in Paris, France, the company also maintains operations in New York City and Raleigh, North Carolina. Cellectis applies its proprietary TALEN genome editing platform to engineer allogeneic chimeric antigen receptor T‐cell (CAR‐T) candidates designed to target blood cancers and solid tumors.

The company's core business activities encompass the discovery, development and manufacturing of off‐the‐shelf immunotherapies.

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