Celularity Inc. (NASDAQ:CELU) Sees Significant Drop in Short Interest

Celularity Inc. (NASDAQ:CELUGet Rating) saw a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 1,800,000 shares, a decline of 31.3% from the August 15th total of 2,620,000 shares. Approximately 5.0% of the company’s shares are sold short. Based on an average trading volume of 667,800 shares, the days-to-cover ratio is currently 2.7 days.

Institutional Trading of Celularity

Large investors have recently modified their holdings of the company. Legal & General Group Plc bought a new position in Celularity in the second quarter worth approximately $29,000. Occudo Quantitative Strategies LP bought a new position in Celularity in the second quarter worth approximately $125,000. State Street Corp bought a new position in Celularity in the second quarter worth approximately $697,000. Cubist Systematic Strategies LLC acquired a new position in shares of Celularity during the second quarter worth $48,000. Finally, UBS Asset Management Americas Inc. acquired a new position in shares of Celularity during the second quarter worth $99,000. Hedge funds and other institutional investors own 22.35% of the company’s stock.

Celularity Stock Performance

Shares of NASDAQ CELU opened at $2.15 on Friday. The firm has a market capitalization of $297.37 million, a price-to-earnings ratio of 10.24 and a beta of 0.20. The stock has a 50 day moving average price of $3.10 and a 200 day moving average price of $6.14. Celularity has a 52-week low of $1.97 and a 52-week high of $13.19.

Wall Street Analysts Forecast Growth

CELU has been the topic of several analyst reports. HC Wainwright initiated coverage on Celularity in a research note on Wednesday, June 22nd. They set a “buy” rating on the stock. Truist Financial dropped their target price on Celularity from $10.00 to $6.00 and set a “hold” rating for the company in a research report on Tuesday, August 23rd. Morgan Stanley dropped their target price on Celularity from $8.00 to $5.00 and set an “equal weight” rating for the company in a research report on Monday. Finally, Alliance Global Partners initiated coverage on Celularity in a research report on Thursday, August 25th. They set a “buy” rating and a $15.00 target price for the company. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $9.00.

Celularity Company Profile

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Celularity Inc, a clinical-stage biotechnology company, develops off-the-shelf placental-derived allogeneic cell therapies for the treatment of cancer, immune, and infectious diseases. It operates through three segments: Cell Therapy, Degenerative Disease, and BioBanking. The company's lead therapeutic programs include CYCART-19, a placental-derived CAR-T therapy, which is in Phase I clinical trial for the treatment of B-cell malignancies; CYNK-001, placental-derived unmodified natural killer (NK) cell that is in Phase I clinical trial to treat acute myeloid leukemia, as well as in Phase I/IIa clinical trial for the treatment of glioblastoma multiforme and COVID-19; CYNK-101, an allogeneic genetically modified NK cell, which is in Phase I clinical trial to treat HER2+ gastric and gastroesophageal cancers; APPL-001, a placenta-derived mesenchymal-like adherent stromal cell that is in a pre-clinical stage for the treatment of Crohn's disease; and PDA-002, a placenta-derived mesenchymal-like adherent stromal cell, which is in pre-clinical stage for the treatment of facioscapulohumeral muscular dystrophy.

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