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

Shares of Cellectis S.A. (NASDAQ:CLLS) crossed 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 traded.

Analysts Set New Price Targets

CLLS has been the subject of several research analyst reports. Barclays lowered their price target on Cellectis from $7.00 to $5.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. StockNews.com initiated coverage on Cellectis in a research report on Thursday. They set a “buy” rating for the company.

Cellectis Stock Performance

The stock has a market capitalization of $77.82 million, a PE ratio of -1.08 and a beta of 3.06. The stock has a fifty day moving average of $1.61 and a 200-day moving average of $1.89. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.48.

Institutional Trading of Cellectis

Institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN increased its position in shares of 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 purchasing an additional 12,500 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of Cellectis during the fourth quarter worth about $962,000. Finally, B Group Inc. acquired a new stake in shares of Cellectis during the fourth quarter worth about $5,547,000. 63.90% of the stock is owned by hedge funds and other institutional investors.

Cellectis Company Profile

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.