Why Cellectis Stock Rose 20.7% This Week
Cellectis (NASDAQ: CLLS), a French clinical-stage biopharmaceutical company that specializes in genome engineering technology to fight cancer, saw its shares rise 20.7% this week, according to data provided by S&P Global Market Intelligence. The stock closed at $3.53 on Friday, then opened at $3.62 on Monday before falling to its 52-week low of $3.43 shortly before the closing bell. It saw its highest point for the week on Thursday, when it reached $4.29 a share. The stock is down more than 80% over the past 12 months and has a 52-week high of $24.03.
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Much of the bounce was merely a reaction to what some saw as an opportunity to buy the stock on the dip. The company's pipeline consists of therapies in early-stage trials, so the payoff for investors is way down the line. Cellectis announced its fourth-quarter earnings and 2021 earnings last week, and it reported an annual earnings-per-share (EPS) loss of $2.55, compared to an EPS loss of $1.91 in 2020.
Source Fool.com
