Celcuity (NASDAQ:CELC) Shares Down 7.8% – Here’s What Happened

by · The Cerbat Gem

Celcuity, Inc. (NASDAQ:CELC – Get Free Report) shares dropped 7.8% during mid-day trading on Friday. The company traded as low as $55.96 and last traded at $55.6110. 518,150 shares changed hands during trading, a decline of 53% from the average session volume of 1,111,661 shares. The stock had previously closed at $60.30.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CELC. Zacks Research cut Celcuity from a “hold” rating to a “strong sell” rating in a report on Tuesday. Wall Street Zen downgraded Celcuity from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. JPMorgan Chase & Co. started coverage on shares of Celcuity in a research note on Thursday, September 17th. They issued an “overweight” rating and a $157.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $155.00 target price on shares of Celcuity in a research report on Friday, August 14th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and issued a $177.00 price target on shares of Celcuity in a research report on Monday, August 17th. Eleven research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Celcuity currently has a consensus rating of “Moderate Buy” and a consensus price target of $154.25.

Get Our Latest Stock Analysis on Celcuity

Celcuity Stock Down 8.4%

The company has a 50-day moving average of $83.67 and a 200-day moving average of $100.10. The company has a current ratio of 8.93, a quick ratio of 8.93 and a debt-to-equity ratio of 6.04. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of -12.90 and a beta of 0.10.

Celcuity (NASDAQ:CELC – Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($1.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.28). On average, equities analysts predict that Celcuity, Inc. will post -4.82 earnings per share for the current fiscal year.

Institutional Trading of Celcuity

Hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. raised its position in Celcuity by 685.9% during the third quarter. Assenagon Asset Management S.A. now owns 1,478,607 shares of the company’s stock valued at $117,579,000 after acquiring an additional 1,290,466 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Celcuity by 358.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 15,958 shares of the company’s stock worth $1,670,000 after purchasing an additional 12,476 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in Celcuity in the 2nd quarter worth approximately $480,000. IFP Advisors Inc acquired a new stake in shares of Celcuity during the 2nd quarter worth approximately $73,000. Finally, Nykredit A S acquired a new stake in shares of Celcuity during the 2nd quarter worth approximately $119,000. Hedge funds and other institutional investors own 63.33% of the company’s stock.

About Celcuity

(Get Free Report)

Celcuity, Inc is a clinical-stage biotechnology company that develops functional diagnostic tests designed to help identify patients who may benefit from targeted cancer therapies. The company’s technology is intended to measure the activity of cellular signaling networks in living tumor cells, rather than relying solely on the presence or absence of individual biomarkers.

Celcuity’s proprietary CELsignia platform analyzes patient tumor samples to identify abnormal signaling activity associated with cancer growth and treatment response.

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