Celcuity (NASDAQ:CELC) Stock Price Down 4.5% – Here’s What Happened

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

Analysts Set New Price Targets

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

Celcuity Stock Performance

The company has a current ratio of 14.95, a quick ratio of 14.95 and a debt-to-equity ratio of 0.54. The business has a fifty day moving average of $15.78 and a 200-day moving average of $16.61. The company has a market cap of $504.40 million, a PE ratio of -5.18 and a beta of 0.75.

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

Institutional Trading of Celcuity

Several large investors have recently bought and sold shares of CELC. Perceptive Advisors LLC purchased a new position in shares of Celcuity in the 4th quarter valued at approximately $21,583,000. Baker BROS. Advisors LP increased its stake in shares of Celcuity by 189.9% in the 1st quarter. Baker BROS. Advisors LP now owns 1,552,478 shares of the company’s stock worth $33,534,000 after acquiring an additional 1,017,000 shares in the last quarter. Samlyn Capital LLC increased its stake in shares of Celcuity by 92.4% in the 2nd quarter. Samlyn Capital LLC now owns 1,326,953 shares of the company’s stock worth $21,735,000 after acquiring an additional 637,190 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Celcuity during the 1st quarter valued at about $3,545,000. Finally, Driehaus Capital Management LLC boosted its stake in Celcuity by 62.3% during the second quarter. Driehaus Capital Management LLC now owns 204,592 shares of the company’s stock worth $3,351,000 after acquiring an additional 78,525 shares in the last quarter. 63.33% of the stock is owned by institutional investors.

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.