Celcuity (NASDAQ:CELC) Reaches New 12-Month High - Here's Why

Key Points

• Celcuity's stock reached a new 52-week high on Thursday, trading as high as $55.25 and closing at $54.09, marking a significant increase from its previous close of $49.96.
• Analysts maintain a consensus rating of "Buy" for Celcuity, with adjusted target prices ranging from $30.00 to $70.00, reflecting optimism about the company's future performance.
• Celcuity recently reported a quarterly EPS of ($1.04), falling short of the expected consensus of ($0.90), as analysts forecast a yearly EPS of -2.62.

Celcuity, Inc. (NASDAQ:CELC - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $55.25 and last traded at $54.09, with a volume of 81125 shares changing hands. The stock had previously closed at $49.96.

Analyst Ratings Changes

A number of brokerages recently issued reports on CELC. Needham & Company LLC decreased their target price on shares of Celcuity from $74.00 to $70.00 and set a "buy" rating for the company in a research report on Friday, August 15th. Leerink Partners raised their price objective on shares of Celcuity from $28.00 to $60.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. HC Wainwright raised their price objective on shares of Celcuity from $50.00 to $66.00 and gave the company a "buy" rating in a research report on Monday, August 18th. Finally, Stifel Nicolaus initiated coverage on shares of Celcuity in a research note on Tuesday, July 1st. They set a "buy" rating and a $30.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $56.50.

Celcuity Stock Performance

The company has a debt-to-equity ratio of 2.24, a current ratio of 4.58 and a quick ratio of 4.58. The firm has a fifty day simple moving average of $30.93 and a 200 day simple moving average of $17.76. The company has a market cap of $2.22 billion, a price-to-earnings ratio of -15.16 and a beta of 0.72.

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

Insider Activity

In related news, Director David Dalvey sold 100,000 shares of the firm's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $43.98, for a total value 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 $5,497,500. This trade represents a 44.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 15.78% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CELC. Baker BROS. Advisors LP lifted its position in Celcuity by 59.0% in the first quarter. Baker BROS. Advisors LP now owns 4,257,735 shares of the company's stock worth $43,046,000 after purchasing an additional 1,579,182 shares during the period. Soleus Capital Management L.P. boosted its stake in shares of Celcuity by 106.0% in the 4th quarter. Soleus Capital Management L.P. now owns 2,565,087 shares of the company's stock valued at $33,577,000 after purchasing an additional 1,319,700 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Celcuity in the 4th quarter valued at $8,468,000. Balyasny Asset Management L.P. acquired a new stake in shares of Celcuity in the 2nd quarter valued at $3,197,000. Finally, Ameriprise Financial Inc. boosted its stake in shares of Celcuity by 27.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 768,796 shares of the company's stock valued at $10,263,000 after purchasing an additional 166,324 shares in the last quarter. 63.33% of the stock is owned by institutional investors.

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.