Celcuity, Inc. (NASDAQ:CELC) Sees Significant Increase in Short Interest

Key Points

• Celcuity, Inc. experienced a significant increase in short interest, with 4,710,000 shares shorted as of August 15th, reflecting a growth of 52.4% from the previous month.
• Hedge funds have actively increased their stakes in Celcuity, with notable investors like Baker BROS. Advisors lifting their holdings by 59% in the first quarter, now owning over 4.2 million shares.
• Concerns about financial performance were highlighted, as Celcuity reported a loss of ($1.04) earnings per share for the quarter, missing estimates by ($0.14).

Celcuity, Inc. (NASDAQ:CELC - Get Free Report) was the recipient of a large growth in short interest during the month of August. As of August 15th, there was short interest totaling 4,710,000 shares, agrowthof52.4% from the July 31st total of 3,090,000 shares. Based on an average daily trading volume, of 1,100,000 shares, the short-interest ratio is presently 4.3 days. Based on an average daily trading volume, of 1,100,000 shares, the short-interest ratio is presently 4.3 days.

Insider Buying and Selling

In related news, Director David Dalvey sold 100,000 shares of the stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $43.98, for a total transaction of $4,398,000.00. Following the completion of the transaction, the director directly owned 125,000 shares of the company's stock, valued at approximately $5,497,500. This represents a 44.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 15.77% of the stock is owned by company insiders.

Hedge Funds Weigh In On Celcuity

A number of hedge funds have recently made changes to their positions in the stock. Baker BROS. Advisors LP lifted its stake in shares of Celcuity by 59.0% in the 1st quarter. Baker BROS. Advisors LP now owns 4,257,735 shares of the company's stock valued at $43,046,000 after purchasing an additional 1,579,182 shares during the period. Soleus Capital Management L.P. increased its holdings in Celcuity by 17.0% in the second quarter. Soleus Capital Management L.P. now owns 3,011,818 shares of the company's stock worth $40,208,000 after purchasing an additional 437,696 shares in the last quarter. Eventide Asset Management LLC lifted its stake in Celcuity by 9.8% in the second quarter. Eventide Asset Management LLC now owns 1,389,427 shares of the company's stock valued at $18,549,000 after buying an additional 123,774 shares during the period. Saturn V Capital Management LP lifted its stake in Celcuity by 8.4% in the second quarter. Saturn V Capital Management LP now owns 1,185,520 shares of the company's stock valued at $15,827,000 after buying an additional 91,843 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Celcuity by 27.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 768,796 shares of the company's stock worth $10,263,000 after buying an additional 166,324 shares in the last quarter. 63.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. HC Wainwright upped their price objective on shares of Celcuity from $50.00 to $66.00 and gave the company a "buy" rating in a report on Monday, August 18th. Leerink Partners lifted their target price on shares of Celcuity from $28.00 to $60.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Needham & Company LLC decreased their price target on shares of Celcuity from $74.00 to $70.00 and set a "buy" rating on the stock in a research note on Friday, August 15th. Finally, Stifel Nicolaus began coverage on shares of Celcuity in a report on Tuesday, July 1st. They issued a "buy" rating and a $30.00 price target on the stock. Four research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $56.50.

Celcuity Price Performance

Shares of CELC traded up $1.22 during trading hours on Friday, hitting $55.69. 831,391 shares of the company were exchanged, compared to its average volume of 916,796. The firm's fifty day moving average is $34.32 and its 200 day moving average is $18.88. The company has a market cap of $2.36 billion, a price-to-earnings ratio of -16.14 and a beta of 0.72. Celcuity has a fifty-two week low of $7.57 and a fifty-two week high of $57.48. The company has a quick ratio of 4.58, a current ratio of 4.58 and a debt-to-equity ratio of 2.24.

Celcuity (NASDAQ:CELC - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate of ($0.90) by ($0.14). On average, equities analysts anticipate that Celcuity will post -2.62 earnings per share for the current fiscal year.

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.

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