Celcuity (NASDAQ:CELC) Shares Up 8.5% – What’s Next?

Celcuity, Inc. (NASDAQ:CELC) shares were up 8.5% on Tuesday. The stock traded as high as $61.40 and last traded at $62.0020. Approximately 224,137 shares changed hands during trading, a decline of 80% from the average daily volume of 1,133,990 shares. The stock had previously closed at $57.12.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CELC shares. HC Wainwright reiterated a “buy” rating and issued a $155.00 price objective on shares of Celcuity in a report on Friday, August 14th. Craig Hallum reiterated a “buy” rating and issued a $178.00 price target on shares of Celcuity in a research note on Wednesday, July 15th. Guggenheim increased their price objective on shares of Celcuity from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, August 17th. Wall Street Zen cut Celcuity from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Finally, Cantor Fitzgerald initiated coverage on Celcuity in a research report on Thursday. They issued an “overweight” rating and a $140.00 target price on the stock. Thirteen research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $152.57.

Celcuity Stock Performance

The company has a quick ratio of 8.93, a current ratio of 8.93 and a debt-to-equity ratio of 6.04. The stock’s fifty day moving average is $81.10 and its two-hundred day moving average is $98.61. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of -14.32 and a beta of 0.10.

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

Institutional Investors Weigh In On Celcuity

Several hedge funds have recently bought and sold shares of the company. Bank of America Corp DE acquired a new position in Celcuity during the second quarter worth approximately $153,928,000. Assenagon Asset Management S.A. raised its stake in Celcuity by 685.9% in 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 buying an additional 1,290,466 shares during the period. Wellington Management Group LLP lifted its position in shares of Celcuity by 111.4% in 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. Jennison Associates LLC lifted its position in shares of Celcuity by 0.6% in the first quarter. Jennison Associates LLC now owns 231,140 shares of the company’s stock valued at $26,382,000 after buying an additional 1,436 shares during the last quarter. Finally, Alyeska Investment Group L.P. lifted its position in shares of Celcuity by 127.2% in the second quarter. Alyeska Investment Group L.P. now owns 170,846 shares of the company’s stock valued at $17,874,000 after buying an additional 95,664 shares during the last quarter. 63.33% of the stock is currently owned by institutional investors and hedge funds.

Celcuity Company Profile

Celcuity, Inc is a clinical-stage biotechnology company developing functional diagnostic tests designed to help identify cancer treatments that may be most effective for individual patients. Its technology analyzes living tumor cells taken from patients to measure how signaling pathways respond to different therapies, with the goal of supporting more personalized treatment decisions.

The company’s CELsignia platform is designed to assess the activity of cancer-related signaling pathways in patient-derived cells.