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

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

Analyst Ratings Changes

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

Celularity Price Performance

The company has a market capitalization of $19.77 million, a PE ratio of -0.21 and a beta of 0.54. The firm’s 50 day moving average is $0.76 and its 200 day moving average is $1.03.

Hedge Funds Weigh In On Celularity

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Celularity by 35.3% during the 3rd quarter. Vanguard Group Inc. now owns 676,650 shares of the company’s stock valued at $1,401,000 after acquiring an additional 176,518 shares during the period. Jane Street Group LLC bought a new stake in shares of Celularity in the 4th quarter worth $46,000. Bank of America Corp DE increased its holdings in Celularity by 1,538.1% in the 2nd quarter. Bank of America Corp DE now owns 37,300 shares of the company’s stock worth $73,000 after buying an additional 35,023 shares in the last quarter. XTX Topco Ltd bought a new position in Celularity during the 4th quarter valued at about $33,000. Finally, Geode Capital Management LLC raised its holdings in shares of 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 last quarter. 19.02% of the stock is owned by hedge funds and other 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.