Celularity (NASDAQ:CELU) Stock Price Down 7% – Here’s What Happened

Shares of Celularity, Inc. (NASDAQ:CELU) traded down 7% during trading on Thursday . The stock traded as low as $0.6830 and last traded at $0.6830. 25,290 shares traded hands during trading, a decline of 50% from the average daily volume of 50,539 shares. The stock had previously closed at $0.7342.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of Celularity from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $6.00.

Celularity Stock Performance

The firm has a market cap of $20.29 million, a P/E ratio of -0.21 and a beta of 0.54. The stock has a fifty day simple moving average of $0.75 and a 200 day simple moving average of $1.02.

Institutional Investors Weigh In On Celularity

Large investors have recently bought and sold shares of the business. XTX Topco Ltd bought a new position in Celularity during the 4th quarter valued at about $33,000. Acadian Asset Management LLC bought a new stake in shares of Celularity in the first quarter worth approximately $34,000. Jane Street Group LLC purchased a new position in shares of Celularity during the fourth quarter valued at approximately $46,000. Bank of America Corp DE raised its holdings in shares of Celularity by 1,538.1% during the second quarter. Bank of America Corp DE now owns 37,300 shares of the company’s stock valued at $73,000 after purchasing an additional 35,023 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Celularity by 15.0% during the fourth quarter. Geode Capital Management LLC now owns 160,190 shares of the company’s stock valued at $178,000 after purchasing an additional 20,876 shares during the period. 19.02% of the stock is currently owned by institutional investors.

About Celularity

Celularity, Inc is a clinical-stage biotechnology company focused on the development of allogeneic, placenta-derived cell therapies and exosome-based biologics for oncology, regenerative medicine and immune-driven conditions. Utilizing a proprietary platform that harnesses the unique properties of postpartum placental cells, the company aims to create off-the-shelf therapies that can be administered without the need for tissue matching or conditioning regimens.

The company’s pipeline includes a range of natural killer (NK) cell products, mesenchymal-like placental stromal cells and exosome formulations designed to modulate inflammatory responses and target tumor cells.