Celcuity (NASDAQ:CELC) Shares Down 4.5% – What’s Next?

Celcuity Inc. (NASDAQ:CELC)’s stock price traded down 4.5% during mid-day trading on Wednesday . The stock traded as low as $14.53 and last traded at $14.58. 42,159 shares were traded during trading, a decline of 85% from the average session volume of 286,644 shares. The stock had previously closed at $15.26.

Wall Street Analyst Weigh In

CELC has been the subject of a number of research reports. Leerink Partnrs upgraded Celcuity to a “strong-buy” rating in a research note on Monday, July 22nd. Leerink Partners began coverage on Celcuity in a research note on Monday, July 22nd. They set an “outperform” rating and a $29.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and set a $23.00 price target on shares of Celcuity in a report on Thursday, August 15th. Stifel Nicolaus boosted their price target on shares of Celcuity from $39.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Lifesci Capital started coverage on shares of Celcuity in a research note on Monday, August 26th. They set an “outperform” rating and a $27.00 target price for the company. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $29.17.

Celcuity Stock Up 4.6 %

The stock has a market cap of $561.37 million, a price-to-earnings ratio of -5.53 and a beta of 0.75. The stock has a 50 day simple moving average of $15.59 and a 200 day simple moving average of $16.56. The company has a quick ratio of 14.95, a current ratio of 14.95 and a debt-to-equity ratio of 0.54.

Celcuity (NASDAQ:CELC) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.62) EPS for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.09. During the same quarter in the prior year, the business posted ($0.66) EPS. As a group, analysts expect that Celcuity Inc. will post -2.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Celcuity

A number of hedge funds have recently added to or reduced their stakes in the stock. Quest Partners LLC raised its stake in shares of Celcuity by 31.3% in the second quarter. Quest Partners LLC now owns 5,788 shares of the company’s stock worth $95,000 after purchasing an additional 1,379 shares during the last quarter. SG Americas Securities LLC bought a new stake in Celcuity during the third quarter worth $119,000. BNP Paribas Financial Markets raised its position in Celcuity by 78.5% in the 1st quarter. BNP Paribas Financial Markets now owns 8,937 shares of the company’s stock valued at $193,000 after buying an additional 3,930 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in Celcuity by 9.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 16,624 shares of the company’s stock worth $272,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Celcuity by 7.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 22,030 shares of the company’s stock worth $361,000 after acquiring an additional 1,600 shares in the last quarter. Institutional investors and hedge funds own 63.33% of the company’s stock.

About Celcuity

Celcuity Inc, a clinical stage biotechnology company, focuses on the development of targeted therapies for the treatment of various solid tumors 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.