What’s Next For Celsion Corporation (NASDAQ:CLSN)

Celsion Corporation (NASDAQ:CLSN) stock ended higher on Friday but went sideways for the week.

Market Action

 CLSN stock ended Friday at $1.04, moved up by 5.04%. More than 1.43 million shares traded hands. The stock opened at $1.05 and moved within a range of $1.02-$1.08. However, the stock was down about 2.80% for the week.

CLSN Released Quarterly Earnings

On Friday, the company issued a press release. here are the quick snapshots:

Celsion Corporation Reports First Quarter 2021 Financial Results and Provides Business Update

  • CLSN reported a net loss for the first quarter of 2021 of $5.7 million ($0.09 per share) compared with a net loss of $5.1 million ($0.20 per share) for the year-ago quarter.
  • Clinical development costs for the Phase III OPTIMA Study decreased to $0.1 million for the first quarter of 2021, compared with $0.7 million for the prior-year quarter.
  • CLSN had $54.6 million in cash and cash equivalents, short-term investments and a receivable on the sale of NOLs.
  • Net cash used for operating activities was $4.7 million for the first quarter of 2021, compared with $5.0 million for the comparable prior-year period.

Trader Notes

CLSN is trading well above its 50-day and 200-day moving average of $1.47 and $1.11 respectively. The stock has jumped 46.25% so far this year. The company has total outstanding shares of 86.56 M and 26.54% are held by institutions.

Moving Averages

+/- EMA(20)1.13 (-7.96%)
+/- SMA(50)1.47 (-29.25%)
+/- SMA(200)1.11 (-6.31%)

Recent Performance

5-DAY PERF.-2.80%
1-MONTH PERF.-16.80%
3-MONTH PERF.-57.55%
6-MONTH PERF.+93.31%
YTD PERF.+46.27%
1-YEAR PERF.-23.53%

Pivot Points

Areas to watch for turns are 1.04, 1.09 and 1.15 above and .98 .97 and .91 below. CLSN looks like it could sell off a touch more. It will then be sitting at pre break out prices from January. If things don’t turn CLSN will then head to its lows.

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