Celcuity (NASDAQ:CELC) Stock Jumps 8.5% – Here’s Why

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

Wall Street Analyst Weigh In

CELC has been the subject of several analyst reports. Stifel Nicolaus lowered their target price on shares of Celcuity from $175.00 to $150.00 and set a “buy” rating for the company in a report on Friday, August 14th. HC Wainwright reaffirmed a “buy” rating and set a $155.00 target price on shares of Celcuity in a research report on Friday, August 14th. Zacks Research downgraded shares of Celcuity from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Celcuity in a research report on Tuesday, September 1st. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Celcuity in a report on Monday. Eleven investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, Celcuity currently has a consensus rating of “Moderate Buy” and a consensus target price of $154.25.

Celcuity Stock Up 6.2%

The company has a market cap of $2.97 billion, a PE ratio of -14.08 and a beta of 0.10. The company has a current ratio of 8.93, a quick ratio of 8.93 and a debt-to-equity ratio of 6.04. The business has a fifty day simple moving average of $82.27 and a two-hundred day simple moving average of $99.34.

Celcuity (NASDAQ:CELC) last issued its earnings results on Thursday, August 13th. The company reported ($1.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.16) by ($0.28). As a group, equities research 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 and other institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC acquired a new stake in shares of Celcuity in the first quarter valued at approximately $38,000. PNC Financial Services Group Inc. increased its position in shares of Celcuity by 20.1% in the first quarter. PNC Financial Services Group Inc. now owns 514 shares of the company’s stock valued at $59,000 after buying an additional 86 shares in the last quarter. KBC Group NV acquired a new position in shares of Celcuity during the 1st quarter worth approximately $64,000. IFP Advisors Inc purchased a new stake in shares of Celcuity during the second quarter worth about $73,000. Finally, EverSource Wealth Advisors LLC boosted its position in Celcuity by 139.1% during the first quarter. EverSource Wealth Advisors LLC now owns 820 shares of the company’s stock worth $94,000 after acquiring an additional 477 shares during the last quarter. Institutional investors and hedge funds own 63.33% of the company’s stock.

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.