Celcuity (NASDAQ:CELC) Shares Gap Down – Here’s Why

Shares of Celcuity, Inc. (NASDAQ:CELC) gapped down prior to trading on Wednesday . The stock had previously closed at $111.05, but opened at $94.81. Celcuity shares last traded at $95.9020, with a volume of 1,773,091 shares traded.

Wall Street Analysts Forecast Growth

CELC has been the subject of a number of research reports. Citigroup reissued an “outperform” rating on shares of Celcuity in a research note on Wednesday. Leerink Partners set a $155.00 price objective on Celcuity in a report on Tuesday, June 2nd. Wells Fargo & Company lowered their target price on Celcuity from $183.00 to $166.00 and set an “overweight” rating for the company in a research report on Wednesday, June 3rd. Wall Street Zen lowered shares of Celcuity from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Finally, Stifel Nicolaus set a $150.00 price target on shares of Celcuity in a research report on Monday, May 4th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Celcuity presently has an average rating of “Moderate Buy” and a consensus price target of $154.55.

Celcuity Trading Down 17.9%

The stock has a market cap of $4.45 billion, a P/E ratio of -23.59 and a beta of 0.16. The company has a debt-to-equity ratio of 6.04, a quick ratio of 12.31 and a current ratio of 12.31. The stock’s fifty day moving average is $110.83 and its 200 day moving average is $111.13.

Celcuity (NASDAQ:CELC) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.97) earnings per share for the quarter, topping the consensus estimate of ($1.07) by $0.10. As a group, equities research analysts predict that Celcuity, Inc. will post -3.69 earnings per share for the current fiscal year.

Insider Activity at Celcuity

In related news, Director David Dalvey sold 25,000 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $140.68, for a total value of $3,517,000.00. Following the completion of the sale, the director directly owned 65,000 shares in the company, valued at $9,144,200. This trade represents a 27.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard E. Buller sold 9,000 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $140.46, for a total value of $1,264,140.00. Following the completion of the sale, the director owned 6,760 shares of the company’s stock, valued at approximately $949,509.60. This represents a 57.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 13.33% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. NEA Management Company LLC boosted its stake in shares of Celcuity by 64.9% during the 4th quarter. NEA Management Company LLC now owns 3,535,561 shares of the company’s stock worth $352,637,000 after purchasing an additional 1,391,300 shares during the period. Avoro Capital Advisors LLC purchased a new stake in Celcuity in the 4th quarter worth about $310,302,000. Soleus Capital Management L.P. raised its position in Celcuity by 17.0% in the 2nd quarter. Soleus Capital Management L.P. now owns 3,011,818 shares of the company’s stock worth $40,208,000 after purchasing an additional 437,696 shares during the period. Vanguard Group Inc. lifted its stake in Celcuity by 10.7% in the fourth quarter. Vanguard Group Inc. now owns 2,279,433 shares of the company’s stock worth $227,351,000 after purchasing an additional 220,386 shares during the last quarter. Finally, State Street Corp lifted its stake in Celcuity by 126.6% in the fourth quarter. State Street Corp now owns 1,637,687 shares of the company’s stock worth $163,343,000 after purchasing an additional 914,887 shares during the last quarter. Institutional investors own 63.33% of the company’s stock.

Celcuity Company Profile

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.