Celcuity (NASDAQ:CELC) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded Celcuity from “hold” to “strong sell,” while Wall Street Zen also assigned a “strong sell” rating. Despite this, the broader analyst consensus remains “Moderate Buy,” with a $154.25 average price target.
• Celcuity shares fell 5.2% to $59.90, well below their 50-day and 200-day moving averages and near the lower end of their 12-month range of $46.51 to $151.02.
• The clinical-stage biotechnology company reported a quarterly loss of $1.44 per share, missing the $1.16 consensus estimate; institutional investors own 63.33% of its outstanding stock.

Celcuity (NASDAQ:CELC - Get Free Report) was downgraded by equities researchers at Zacks Research from a "hold" rating to a "strong sell" rating in a report issued on Tuesday, Zacks reports.

Several other equities analysts have also commented on the stock. Wall Street Zen lowered shares of Celcuity from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 15th. Weiss Ratings reissued a "sell (d-)" rating on shares of Celcuity in a report on Tuesday, September 1st. Citizens Jmp reissued a "market outperform" rating and issued a $177.00 target price on shares of Celcuity in a research report on Monday, August 17th. Needham & Company LLC decreased their target price on Celcuity from $140.00 to $134.00 and set a "buy" rating for the company in a research report on Wednesday, September 30th. Finally, Craig Hallum restated a "buy" rating and set a $178.00 price target on shares of Celcuity in a research note on Wednesday, July 15th. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $154.25.

Celcuity Stock Down 5.2%

Shares of NASDAQ CELC opened at $59.90 on Tuesday. 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 stock has a market cap of $2.93 billion, a P/E ratio of -13.93 and a beta of 0.10. The business's fifty day simple moving average is $84.33 and its 200-day simple moving average is $100.43. Celcuity has a 12-month low of $46.51 and a 12-month high of $151.02.

Celcuity (NASDAQ:CELC - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($1.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.16) by ($0.28). As a group, equities analysts predict that Celcuity will post -4.82 EPS for the current fiscal year.

Institutional Trading of Celcuity

A number of large investors have recently bought and sold shares of the business. Bank of America Corp DE acquired a new position in shares of Celcuity during the 2nd quarter worth approximately $153,928,000. Wellington Management Group LLP lifted its stake in Celcuity by 111.4% in the 2nd quarter. Wellington Management Group LLP now owns 906,595 shares of the company's stock valued at $94,848,000 after buying an additional 477,643 shares in the last quarter. Capitolis Liquid Global Markets LLC acquired a new stake in Celcuity during the 4th quarter valued at $35,428,000. Assenagon Asset Management S.A. acquired a new stake in Celcuity during the 2nd quarter valued at $19,683,000. Finally, Bank of New York Mellon Corp acquired a new stake in Celcuity during the 2nd quarter valued at $12,175,000. Institutional investors and hedge funds own 63.33% of the company's stock.

Celcuity Company Profile

Celcuity, Inc is a clinical-stage biotechnology company that develops functional diagnostic tests designed to help identify patients who may benefit from targeted cancer therapies. The company's technology is intended to measure the activity of cellular signaling networks in living tumor cells, rather than relying solely on the presence or absence of individual biomarkers.

Celcuity's proprietary CELsignia platform analyzes patient tumor samples to identify abnormal signaling activity associated with cancer growth and treatment response.

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