Balyasny Asset Management L.P. Sells 301,469 Shares of Celcuity Inc. (NASDAQ:CELC)

Balyasny Asset Management L.P. lessened its position in Celcuity Inc. (NASDAQ:CELC - Free Report) by 91.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,484 shares of the company's stock after selling 301,469 shares during the period. Balyasny Asset Management L.P. owned about 0.07% of Celcuity worth $347,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Summit Investment Advisors Inc. raised its stake in shares of Celcuity by 49.5% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,421 shares of the company's stock worth $45,000 after purchasing an additional 1,132 shares during the last quarter. Aquatic Capital Management LLC bought a new stake in Celcuity in the 4th quarter worth about $50,000. The Manufacturers Life Insurance Company purchased a new position in Celcuity in the 4th quarter worth about $142,000. Bleakley Financial Group LLC bought a new position in Celcuity during the 4th quarter valued at about $146,000. Finally, Trexquant Investment LP purchased a new stake in shares of Celcuity during the 4th quarter valued at about $152,000. Hedge funds and other institutional investors own 63.33% of the company's stock.

Celcuity Stock Performance

Shares of NASDAQ CELC traded up $0.01 during midday trading on Thursday, hitting $10.61. 8,757 shares of the company's stock traded hands, compared to its average volume of 297,351. The firm has a fifty day moving average of $10.17 and a 200 day moving average of $11.60. Celcuity Inc. has a 1 year low of $7.58 and a 1 year high of $19.77. The company has a debt-to-equity ratio of 0.65, a quick ratio of 10.36 and a current ratio of 10.35. The stock has a market capitalization of $401.47 million, a price-to-earnings ratio of -4.08 and a beta of 0.56.

Celcuity (NASDAQ:CELC - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported ($0.86) EPS for the quarter, beating analysts' consensus estimates of ($0.95) by $0.09. On average, analysts forecast that Celcuity Inc. will post -2.62 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CELC shares. HC Wainwright reissued a "buy" rating and set a $27.00 price objective on shares of Celcuity in a report on Monday. Needham & Company LLC reiterated a "buy" rating and set a $29.00 target price on shares of Celcuity in a research note on Thursday, May 15th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $30.80.

Celcuity Company Profile

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.