Celcuity (NASDAQ:CELC) Posts Quarterly Earnings Results, Beats Estimates By $0.33 EPS

Celcuity (NASDAQ:CELC) issued its earnings results on Wednesday. The company reported ($0.73) earnings per share for the quarter, topping the consensus estimate of ($1.06) by $0.33, FiscalAI reports.

Celcuity Trading Up 8.0%

NASDAQ CELC traded up $8.21 during trading hours on Wednesday, reaching $110.22. The company had a trading volume of 848,495 shares, compared to its average volume of 718,068. The company has a current ratio of 12.26, a quick ratio of 12.26 and a debt-to-equity ratio of 2.74. The stock has a market capitalization of $5.10 billion, a P/E ratio of -30.03 and a beta of 0.38. The stock has a 50-day moving average of $109.41 and a 200 day moving average of $90.13. Celcuity has a 1-year low of $7.57 and a 1-year high of $120.32.

Insider Buying and Selling at Celcuity

In other news, Director David Dalvey sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $120.03, for a total value of $2,400,600.00. Following the sale, the director directly owned 90,000 shares of the company’s stock, valued at approximately $10,802,700. The trade was a 18.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 15.78% of the stock is currently owned by corporate insiders.

Institutional Trading of Celcuity

Several hedge funds have recently made changes to their positions in CELC. Creative Planning purchased a new position in shares of Celcuity in the second quarter valued at approximately $177,000. Rhumbline Advisers increased its stake in Celcuity by 1.2% during the 2nd quarter. Rhumbline Advisers now owns 42,697 shares of the company’s stock worth $570,000 after buying an additional 503 shares during the period. XTX Topco Ltd purchased a new stake in Celcuity during the 2nd quarter worth approximately $169,000. Quantinno Capital Management LP lifted its holdings in Celcuity by 20.7% during the 2nd quarter. Quantinno Capital Management LP now owns 243,042 shares of the company’s stock worth $3,245,000 after buying an additional 41,756 shares in the last quarter. Finally, Paloma Partners Management Co lifted its holdings in Celcuity by 285.8% during the 2nd quarter. Paloma Partners Management Co now owns 82,137 shares of the company’s stock worth $1,097,000 after buying an additional 60,849 shares in the last quarter. Institutional investors and hedge funds own 63.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CELC shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Celcuity in a research report on Wednesday, January 21st. Jefferies Financial Group upped their target price on Celcuity from $108.00 to $134.00 and gave the company a “buy” rating in a report on Tuesday, December 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $122.00 target price on shares of Celcuity in a research note on Tuesday, March 17th. Wolfe Research reaffirmed an “outperform” rating and issued a $110.00 target price on shares of Celcuity in a research note on Thursday, March 12th. Finally, Wells Fargo & Company initiated coverage on Celcuity in a report on Friday, December 12th. They set an “overweight” rating and a $126.00 price target on the stock. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Celcuity presently has an average rating of “Moderate Buy” and an average target price of $108.63.

About Celcuity

Celcuity, Inc is a clinical-stage biotechnology company specializing in precision oncology diagnostics. The company develops and commercializes predictive biomarker assays designed to identify which patients are most likely to benefit from targeted cancer therapies. By integrating functional profiling of tumor cells with molecular analyses, Celcuity seeks to optimize treatment selection and improve outcomes for patients with solid tumors.

Celcuity’s proprietary platform evaluates tumor cell sensitivity to various therapeutic agents using ex vivo assays that measure DNA damage response and other critical pathways.