Celcuity (NASDAQ:CELC) Reaches New 52-Week High – Here’s Why
by Sarita Garza · The Markets DailyCelcuity, Inc. (NASDAQ:CELC – Get Free Report)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $114.43 and last traded at $113.9770, with a volume of 288810 shares. The stock had previously closed at $104.21.
Wall Street Analysts Forecast Growth
CELC has been the subject of several research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Celcuity in a research note on Wednesday, October 8th. Guggenheim initiated coverage on shares of Celcuity in a research report on Monday, September 22nd. They set a “buy” rating for the company. Wells Fargo & Company assumed coverage on Celcuity in a report on Friday, December 12th. They set an “overweight” rating and a $126.00 price objective for the company. Needham & Company LLC set a $95.00 price target on shares of Celcuity in a research report on Monday, October 20th. Finally, Wolfe Research started coverage on Celcuity in a research report on Tuesday, November 18th. They set an “outperform” rating and a $110.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $105.25.
Check Out Our Latest Stock Report on CELC
Celcuity Stock Up 9.9%
The company has a debt-to-equity ratio of 2.74, a current ratio of 12.26 and a quick ratio of 12.26. The firm’s fifty day moving average price is $97.80 and its two-hundred day moving average price is $63.69. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of -31.19 and a beta of 0.25.
Celcuity (NASDAQ:CELC – Get Free Report) last posted its earnings results on Wednesday, November 12th. The company reported ($0.92) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.05) by $0.13. Sell-side analysts forecast that Celcuity, Inc. will post -2.62 earnings per share for the current fiscal year.
Insider Transactions at Celcuity
In related news, Director Richard E. Buller sold 3,000 shares of Celcuity stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $105.69, for a total value of $317,070.00. Following the sale, the director owned 6,760 shares of the company’s stock, valued at approximately $714,464.40. The trade was a 30.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 15.78% of the company’s stock.
Institutional Investors Weigh In On Celcuity
Institutional investors and hedge funds have recently modified their holdings of the company. Ogorek Anthony Joseph NY ADV purchased a new position in Celcuity during the third quarter worth about $27,000. US Bancorp DE grew its position in Celcuity by 25.4% during the 3rd quarter. US Bancorp DE now owns 706 shares of the company’s stock worth $35,000 after acquiring an additional 143 shares during the last quarter. Versant Capital Management Inc raised its holdings in Celcuity by 611.2% during the 3rd quarter. Versant Capital Management Inc now owns 1,593 shares of the company’s stock valued at $79,000 after buying an additional 1,369 shares during the last quarter. Avanza Fonder AB bought a new stake in shares of Celcuity in the third quarter worth about $79,000. Finally, Everhart Financial Group Inc. bought a new position in shares of Celcuity during the fourth quarter valued at approximately $209,000. 63.33% of the stock is owned by hedge funds and other institutional investors.
About Celcuity
Celcuity, Inc is a clinical-stage biotechnology company specializing in precision oncology diagnostics. The company develops and commercializes predictive biomarker assays designed to identify which patients are most likely to benefit from targeted cancer therapies. By integrating functional profiling of tumor cells with molecular analyses, Celcuity seeks to optimize treatment selection and improve outcomes for patients with solid tumors.
Celcuity’s proprietary platform evaluates tumor cell sensitivity to various therapeutic agents using ex vivo assays that measure DNA damage response and other critical pathways.