Celcuity (NASDAQ:CELC) Shares Down 3.5%

Celcuity Inc. (NASDAQ:CELC)’s share price fell 3.5% during mid-day trading on Thursday . The company traded as low as $14.91 and last traded at $14.99. 86,050 shares were traded during trading, a decline of 69% from the average session volume of 278,591 shares. The stock had previously closed at $15.54.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. HC Wainwright reiterated a “buy” rating and issued a $27.00 price target on shares of Celcuity in a research report on Thursday, August 15th. Stifel Nicolaus dropped their target price on shares of Celcuity from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Leerink Partnrs upgraded shares of Celcuity to a “strong-buy” rating in a research report on Monday, July 22nd. Lifesci Capital initiated coverage on shares of Celcuity in a research report on Monday, August 26th. They set an “outperform” rating and a $27.00 price objective on the stock. Finally, Needham & Company LLC reissued a “buy” rating and set a $23.00 target price on shares of Celcuity in a research note on Thursday, August 15th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $28.67.

Celcuity Price Performance

The company has a quick ratio of 14.95, a current ratio of 14.95 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $554.71 million, a PE ratio of -5.39 and a beta of 0.76. The stock’s 50-day moving average is $16.87 and its 200 day moving average is $16.95.

Celcuity (NASDAQ:CELC) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.62) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.09. During the same quarter last year, the company earned ($0.66) earnings per share. As a group, equities analysts predict that Celcuity Inc. will post -2.54 earnings per share for the current year.

Institutional Investors Weigh In On Celcuity

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quest Partners LLC lifted its stake in Celcuity by 31.3% in the second quarter. Quest Partners LLC now owns 5,788 shares of the company’s stock valued at $95,000 after acquiring an additional 1,379 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Celcuity by 78.5% in the first quarter. BNP Paribas Financial Markets now owns 8,937 shares of the company’s stock worth $193,000 after purchasing an additional 3,930 shares in the last quarter. Pale Fire Capital SE increased its position in Celcuity by 38.4% during the fourth quarter. Pale Fire Capital SE now owns 14,409 shares of the company’s stock worth $210,000 after buying an additional 4,000 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings 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 buying an additional 1,500 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Celcuity by 7.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 22,030 shares of the company’s stock valued at $361,000 after buying an additional 1,600 shares in the last quarter. 63.33% of the stock is owned by hedge funds and other institutional investors.

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.