Celcuity (NASDAQ:CELC) Shares Down 5.9% – Should You Sell?

Shares of Celcuity, Inc. (NASDAQ:CELC) traded down 5.9% on Wednesday. The stock traded as low as $66.37 and last traded at $66.2440. 25,517 shares changed hands during mid-day trading, a decline of 98% from the average daily volume of 1,146,762 shares. The stock had previously closed at $70.37.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CELC shares. JPMorgan Chase & Co. started coverage on Celcuity in a research note on Thursday, September 17th. They set an “overweight” rating and a $157.00 price target for the company. TD Cowen reaffirmed a “buy” rating and set a $145.00 price objective on shares of Celcuity in a research report on Wednesday, October 21st. Craig Hallum reissued a “buy” rating and issued a $178.00 target price on shares of Celcuity in a research report on Wednesday, July 15th. Royal Bank Of Canada lowered shares of Celcuity to a “neutral” rating in a research note on Wednesday, October 28th. Finally, Stifel Nicolaus reduced their target price on Celcuity from $175.00 to $150.00 and set a “buy” rating for the company in a report on Friday, August 14th. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Celcuity presently has a consensus rating of “Moderate Buy” and an average price target of $151.79.

Celcuity Trading Down 1.7%

The business has a fifty day moving average price of $74.30 and a 200 day moving average price of $98.97. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of -14.01 and a beta of 0.16. The company has a debt-to-equity ratio of 6.04, a current ratio of 14.62 and a quick ratio of 8.93.

Celcuity (NASDAQ:CELC) last posted its quarterly earnings data on Thursday, November 5th. The company reported ($1.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.51) by $0.30. On average, equities analysts expect that Celcuity, Inc. will post -4.86 EPS for the current fiscal year.

Hedge Funds Weigh In On Celcuity

A number of institutional investors have recently modified their holdings of CELC. Assenagon Asset Management S.A. lifted its position in shares of Celcuity by 685.9% during the third quarter. Assenagon Asset Management S.A. now owns 1,478,607 shares of the company’s stock worth $117,579,000 after purchasing an additional 1,290,466 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Celcuity in the second quarter valued at approximately $153,928,000. Wellington Management Group LLP raised its position in Celcuity by 111.4% in the 2nd quarter. Wellington Management Group LLP now owns 906,595 shares of the company’s stock worth $94,848,000 after purchasing an additional 477,643 shares during the last quarter. Pictet Asset Management Holding SA raised its position in Celcuity by 10,659.7% in the 3rd quarter. Pictet Asset Management Holding SA now owns 291,049 shares of the company’s stock worth $23,144,000 after purchasing an additional 288,344 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in Celcuity by 0.6% during the 1st quarter. Jennison Associates LLC now owns 231,140 shares of the company’s stock worth $26,382,000 after buying an additional 1,436 shares in the last quarter. 63.33% of the stock is owned by institutional investors.

Celcuity Company Profile

Celcuity is a clinical-stage biotechnology company focused on developing targeted cancer therapies. The company uses its CELsignia platform to analyze signaling activity in tumor cells and identify patients who may be more likely to respond to treatments aimed at specific cellular pathways. Its drug-development program includes gedatolisib, a therapy designed to inhibit PI3K and mTOR signaling pathways. Celcuity is studying the drug in clinical trials for breast cancer and other solid tumors, with a focus on treatment strategies tailored to tumor biology.