Celcuity (NASDAQ:CELC) Stock Rating Cut to “Strong Sell” at Zacks Research

Zacks Research cut shares of Celcuity (NASDAQ:CELC) from a hold rating to a strong sell rating in a research note published on Tuesday,Zacks reports.

Several other brokerages have also commented on CELC. Citizens Jmp reissued a “market outperform” rating and set a $177.00 price objective on shares of Celcuity in a research report on Monday, August 17th. Citigroup reaffirmed a “market outperform” rating on shares of Celcuity in a research report on Monday, August 17th. Stifel Nicolaus decreased their price target on shares of Celcuity from $175.00 to $150.00 and set a “buy” rating for the company in a research note on Friday, August 14th. Needham & Company LLC decreased their price target on shares of Celcuity from $140.00 to $134.00 and set a “buy” rating for the company in a research note on Wednesday, September 30th. Finally, Guggenheim lifted their price target on shares of Celcuity from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, August 17th. Eleven investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Celcuity currently has an average rating of “Moderate Buy” and an average target price of $154.25.

Celcuity Stock Performance

Celcuity stock opened at $59.90 on Tuesday. The stock’s 50 day simple moving average is $84.33 and its two-hundred day simple moving average is $100.43. The company has a debt-to-equity ratio of 6.04, a quick ratio of 8.93 and a current ratio of 8.93. The stock has a market cap of $2.93 billion, a price-to-earnings ratio of -13.93 and a beta of 0.10. Celcuity has a fifty-two week low of $46.51 and a fifty-two week high of $151.02.

Celcuity (NASDAQ:CELC) last announced its earnings results on Thursday, August 13th. The company reported ($1.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.16) by ($0.28). As a group, analysts expect that Celcuity will post -4.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Celcuity

Several large investors have recently modified their holdings of the stock. Bank of America Corp DE bought a new position in shares of Celcuity during the second quarter valued at $153,928,000. Wellington Management Group LLP boosted its position in shares of Celcuity by 111.4% during the second quarter. Wellington Management Group LLP now owns 906,595 shares of the company’s stock valued at $94,848,000 after buying an additional 477,643 shares during the last quarter. Capitolis Liquid Global Markets LLC purchased a new stake in shares of Celcuity during the fourth quarter valued at $35,428,000. Jennison Associates LLC increased its holdings in Celcuity by 0.6% in the 1st quarter. Jennison Associates LLC now owns 231,140 shares of the company’s stock worth $26,382,000 after buying an additional 1,436 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in Celcuity in the 2nd quarter worth about $19,683,000. Hedge funds and other institutional investors own 63.33% of the company’s stock.

About Celcuity

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.