Celcuity (NASDAQ:CELC) Releases Earnings Results, Misses Expectations By $0.14 EPS

Key Points

• Celcuity reported earnings of ($1.04) EPS, missing analyst estimates of ($0.90) by $0.14.
• The company's stock price fell to $51.79 following the earnings report, with significant trading volume of 908,850 shares.
• Wall Street analysts continue to maintain a positive outlook, with a consensus buy rating and an average price target of $47.40.

Celcuity (NASDAQ:CELC - Get Free Report) posted its quarterly earnings results on Thursday. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.90) by ($0.14), Zacks reports.

Celcuity Price Performance

Shares of Celcuity stock traded down $0.10 during trading on Friday, hitting $51.79. 908,850 shares of the company were exchanged, compared to its average volume of 2,837,310. The company has a quick ratio of 6.61, a current ratio of 6.61 and a debt-to-equity ratio of 1.14. Celcuity has a fifty-two week low of $7.57 and a fifty-two week high of $53.86. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of -15.01 and a beta of 0.68. The firm has a 50 day moving average price of $22.44 and a 200 day moving average price of $14.77.

Insider Activity

In related news, Director David Dalvey sold 100,000 shares of Celcuity 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 in the company, valued at $5,497,500. The trade was a 44.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 15.77% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CELC. Soleus Capital Management L.P. increased its holdings in shares of Celcuity by 17.0% during the 2nd quarter. Soleus Capital Management L.P. now owns 3,011,818 shares of the company's stock worth $40,208,000 after buying an additional 437,696 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Celcuity during the 2nd quarter worth $3,197,000. Ameriprise Financial Inc. increased 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 during the last quarter. Paloma Partners Management Co increased its holdings in shares of Celcuity by 285.8% during the 2nd quarter. Paloma Partners Management Co now owns 82,137 shares of the company's stock worth $1,097,000 after buying an additional 60,849 shares during the last quarter. Finally, Quantinno Capital Management LP increased its holdings in shares of Celcuity by 20.7% during the 2nd quarter. Quantinno Capital Management LP now owns 243,042 shares of the company's stock worth $3,245,000 after buying an additional 41,756 shares during the last quarter. 63.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus assumed coverage on shares of Celcuity in a research report on Tuesday, July 1st. They set a "buy" rating and a $30.00 price target for the company. Needham & Company LLC reduced their price target on shares of Celcuity from $74.00 to $70.00 and set a "buy" rating for the company in a research report on Friday. HC Wainwright lifted their price target on shares of Celcuity from $27.00 to $50.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Finally, Leerink Partners lifted their price target 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. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Celcuity currently has a consensus rating of "Buy" and an average price target of $47.40.

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.

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