Celcuity (NASDAQ:CELC) Upgraded to Sell at Wall Street Zen

Key Points

• Wall Street Zen upgraded Celcuity from “strong sell” to “sell.” Analyst sentiment overall remains more positive: MarketBeat reports a “Moderate Buy” consensus and a $151.79 average price target, with 13 Buy, one Hold, and two Sell ratings.
• Celcuity shares opened at $64.37, well below their 12-month high of $151.02; its 50-day and 200-day moving averages were $72.47 and $98.23, respectively.
• The clinical-stage biotech reported a quarterly loss of $1.21 per share, narrower than the $1.51 loss analysts expected.

Celcuity (NASDAQ:CELC - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a report issued on Saturday, Wall Street Zen reports.

Several other analysts have also issued reports on the company. Citigroup reaffirmed a "market outperform" rating on shares of Celcuity in a research note on Monday. Guggenheim initiated coverage on shares of Celcuity in a research report on Friday, November 6th. They set a "buy" rating and a $169.00 price target on the stock. Cantor Fitzgerald started coverage on shares of Celcuity in a research note on Thursday, October 22nd. They set an "overweight" rating and a $140.00 price target on the stock. Needham & Company LLC decreased their price target on shares of Celcuity from $140.00 to $134.00 and set a "buy" rating on the stock in a research note on Wednesday, September 30th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Celcuity in a report on Tuesday, September 1st. Thirteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Celcuity has an average rating of "Moderate Buy" and a consensus target price of $151.79.

Celcuity Stock Performance

Shares of CELC stock opened at $64.37 on Friday. The business has a 50-day moving average price of $72.47 and a two-hundred day moving average price of $98.23. Celcuity has a 12-month low of $53.54 and a 12-month high of $151.02. The company has a quick ratio of 8.93, a current ratio of 14.62 and a debt-to-equity ratio of 6.04.

Celcuity (NASDAQ:CELC - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The company reported ($1.21) EPS for the quarter, beating the consensus estimate of ($1.51) by $0.30. Research analysts predict that Celcuity will post -5.01 earnings per share for the current year.

Hedge Funds Weigh In On Celcuity

Several hedge funds have recently made changes to their positions in the business. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Celcuity by 39.9% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 17,729 shares of the company's stock valued at $1,410,000 after acquiring an additional 5,053 shares in the last quarter. ACT Capital Partners L.P. purchased a new stake in Celcuity in the third quarter worth $4,664,000. Nan Fung Trinity HK Ltd. boosted its holdings in Celcuity by 33.4% in the third quarter. Nan Fung Trinity HK Ltd. now owns 103,775 shares of the company's stock valued at $8,252,000 after acquiring an additional 25,975 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in Celcuity by 10,659.7% in the third quarter. Pictet Asset Management Holding SA now owns 291,049 shares of the company's stock valued at $23,144,000 after acquiring an additional 288,344 shares in the last quarter. Finally, Integrity Alliance LLC. boosted its holdings in Celcuity by 2.2% in the third quarter. Integrity Alliance LLC. now owns 11,868 shares of the company's stock valued at $944,000 after acquiring an additional 250 shares in the last quarter. 63.33% of the stock is owned by hedge funds and other institutional investors.

About Celcuity

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.