Celcuity (NASDAQ:CELC) Reaches New 1-Year High After Analyst Upgrade

Celcuity Inc. (NASDAQ:CELC)’s share price hit a new 52-week high during mid-day trading on Thursday after Needham & Company LLC raised their price target on the stock from $23.00 to $24.00. Needham & Company LLC currently has a buy rating on the stock. Celcuity traded as high as $20.81 and last traded at $20.81, with a volume of 156937 shares trading hands. The stock had previously closed at $18.16.

Several other equities research analysts have also issued reports on the company. Stifel Nicolaus initiated coverage on Celcuity in a research report on Thursday, February 22nd. They set a “buy” rating and a $40.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and set a $27.00 target price on shares of Celcuity in a research report on Thursday.

Institutional Investors Weigh In On Celcuity

Several large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its holdings in Celcuity by 40.3% in the 4th quarter. Bank of America Corp DE now owns 3,159 shares of the company’s stock worth $44,000 after acquiring an additional 907 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Celcuity by 7.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 27,276 shares of the company’s stock worth $256,000 after acquiring an additional 1,989 shares during the last quarter. Royal Bank of Canada increased its holdings in Celcuity by 12.0% in the 4th quarter. Royal Bank of Canada now owns 18,909 shares of the company’s stock worth $276,000 after acquiring an additional 2,020 shares during the last quarter. Northern Trust Corp increased its holdings in Celcuity by 1.1% in the 4th quarter. Northern Trust Corp now owns 183,188 shares of the company’s stock worth $2,669,000 after acquiring an additional 2,035 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Celcuity by 7.6% in the 2nd quarter. Renaissance Technologies LLC now owns 31,056 shares of the company’s stock worth $341,000 after acquiring an additional 2,200 shares during the last quarter. Hedge funds and other institutional investors own 63.33% of the company’s stock.

Celcuity Trading Up 15.8 %

The firm has a 50 day simple moving average of $16.20 and a 200 day simple moving average of $13.51. The company has a debt-to-equity ratio of 0.39, a quick ratio of 11.15 and a current ratio of 11.15. The firm has a market cap of $508.93 million, a P/E ratio of -7.11 and a beta of 0.74.

Celcuity Company Profile

Celcuity Inc, a clinical stage biotechnology company, focuses on the development of molecularly targeted therapies for cancer patients 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.