Celcuity (NASDAQ:CELC) Releases Earnings Results, Beats Estimates By $0.10 EPS

Celcuity (NASDAQ:CELC) released its quarterly earnings data on Thursday, May 14th. The company reported ($0.97) earnings per share for the quarter, beating the consensus estimate of ($1.07) by $0.10, Zacks reports.

Here are the key takeaways from Celcuity’s conference call:

• Celcuity reported positive top-line Phase III VIKTORIA-1 results in the PIK3CA mutant cohort, with both the triplet and doublet gedatolisib regimens showing statistically significant and clinically meaningful PFS improvements versus alpelisib plus fulvestrant.
• Management said gedatolisib regimens were generally well tolerated with manageable safety profiles and no new safety signals, supporting the company’s view that the drug could be a differentiated option in advanced breast cancer.
• The company expanded VIKTORIA-2 to include a new first-line study in endocrine-sensitive HR-positive, HER2-negative advanced breast cancer, broadening the potential patient population beyond the original endocrine-resistant design.
• Celcuity said it is advancing a subcutaneous formulation of gedatolisib and has filed its first patent application, aiming to support longer-term use and potentially improve convenience versus infusion.
• Financial results showed a larger quarterly loss and higher spending, driven mainly by increased R&D, commercial buildout, and launch preparations, while the company ended the quarter with $387.1 million in cash and expects funding to last through 2027.

Celcuity Trading Down 1.0%

Shares of CELC traded down $0.88 during trading hours on Monday, hitting $87.40. The company had a trading volume of 1,248,252 shares, compared to its average volume of 972,566. The company has a quick ratio of 12.31, a current ratio of 12.31 and a debt-to-equity ratio of 6.04. Celcuity has a 52-week low of $11.27 and a 52-week high of $151.02. The firm has a market cap of $4.26 billion, a P/E ratio of -22.41 and a beta of 0.10. The stock’s 50 day moving average price is $122.01 and its 200 day moving average price is $111.52.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CELC. Weiss Ratings upgraded Celcuity from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday. HC Wainwright lowered their target price on Celcuity from $185.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, June 3rd. Citizens Jmp increased their target price on Celcuity from $150.00 to $160.00 and gave the stock a “market outperform” rating in a report on Monday, May 4th. Needham & Company LLC reissued a “buy” rating and issued a $157.00 price target on shares of Celcuity in a research report on Friday, May 15th. Finally, Craig Hallum decreased their price target on shares of Celcuity from $189.00 to $171.00 and set a “buy” rating for the company in a research note on Wednesday, June 3rd. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $152.09.

Insider Activity

In other news, Director Richard E. Buller sold 9,000 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $140.46, for a total value of $1,264,140.00. Following the sale, the director directly owned 6,760 shares of the company’s stock, valued at $949,509.60. The trade was a 57.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director David Dalvey sold 25,000 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $140.68, for a total value of $3,517,000.00. Following the transaction, the director directly owned 65,000 shares in the company, valued at approximately $9,144,200. The trade was a 27.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 37,000 shares of company stock valued at $5,111,950. 13.33% of the stock is owned by company insiders.

Institutional Trading of Celcuity

A number of large investors have recently added to or reduced their stakes in CELC. US Bancorp DE lifted its position in Celcuity by 25.4% during the third quarter. US Bancorp DE now owns 706 shares of the company’s stock valued at $35,000 after purchasing an additional 143 shares during the last quarter. Aristides Capital LLC lifted its position in Celcuity by 2.0% in the fourth quarter. Aristides Capital LLC now owns 15,303 shares of the company’s stock worth $1,526,000 after buying an additional 303 shares during the last quarter. Police & Firemen s Retirement System of New Jersey increased its position in Celcuity by 4.2% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 8,637 shares of the company’s stock valued at $861,000 after acquiring an additional 350 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Celcuity in the fourth quarter valued at $42,000. Finally, Rhumbline Advisers boosted its holdings in Celcuity by 1.2% during the 2nd quarter. Rhumbline Advisers now owns 42,697 shares of the company’s stock valued at $570,000 after acquiring an additional 503 shares during the period. Institutional investors own 63.33% of the company’s stock.

Celcuity Company Profile

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.