Celcuity (NASDAQ:CELC) Shares Down 4.5% – What’s Next?

Celcuity Inc. (NASDAQ:CELC) traded down 4.5% during trading on Wednesday . The stock traded as low as $14.53 and last traded at $14.58. 42,159 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 286,644 shares. The stock had previously closed at $15.26.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CELC. Lifesci Capital assumed coverage on shares of Celcuity in a research report on Monday, August 26th. They issued an “outperform” rating and a $27.00 price objective for the company. Stifel Nicolaus raised their price target on Celcuity from $39.00 to $42.00 and gave the company a “buy” rating in a report on Monday. Leerink Partnrs upgraded shares of Celcuity to a “strong-buy” rating in a report on Monday, July 22nd. Needham & Company LLC restated a “buy” rating and set a $23.00 target price on shares of Celcuity in a research note on Thursday, August 15th. Finally, Leerink Partners initiated coverage on shares of Celcuity in a report on Monday, July 22nd. They set an “outperform” rating and a $29.00 target price for the company. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $29.17.

Celcuity Trading Up 4.6 %

The company has a debt-to-equity ratio of 0.54, a current ratio of 14.95 and a quick ratio of 14.95. The business’s 50-day moving average is $15.59 and its 200 day moving average is $16.56. The firm has a market capitalization of $561.37 million, a P/E ratio of -5.53 and a beta of 0.75.

Celcuity (NASDAQ:CELC) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.62) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.71) by $0.09. During the same period in the prior year, the firm earned ($0.66) earnings per share. As a group, analysts anticipate that Celcuity Inc. will post -2.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Celcuity

Several institutional investors and hedge funds have recently bought and sold shares of the company. Quest Partners LLC raised its position in shares of Celcuity by 31.3% in the 2nd quarter. Quest Partners LLC now owns 5,788 shares of the company’s stock valued at $95,000 after buying an additional 1,379 shares in the last quarter. Commonwealth Equity Services LLC raised its position in Celcuity by 9.9% during the second quarter. Commonwealth Equity Services LLC now owns 16,624 shares of the company’s stock valued at $272,000 after purchasing an additional 1,500 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Celcuity by 7.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 22,030 shares of the company’s stock worth $361,000 after purchasing an additional 1,600 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Celcuity by 78.5% in the 1st quarter. BNP Paribas Financial Markets now owns 8,937 shares of the company’s stock valued at $193,000 after purchasing an additional 3,930 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Celcuity by 27.7% in the 2nd quarter. Rhumbline Advisers now owns 32,464 shares of the company’s stock valued at $532,000 after purchasing an additional 7,049 shares during the last quarter. Institutional investors own 63.33% of the company’s stock.

Celcuity Company Profile

Celcuity Inc, a clinical stage biotechnology company, focuses on the development of targeted therapies for the treatment of various solid tumors in the United States. The company's CELsignia diagnostic platform uses a patient's living tumor cells to identify the specific abnormal cellular process driving a patient's cancer and the related targeted therapy for the treatment.