Celcuity (NASDAQ:CELC) Sees Strong Trading Volume - What's Next?

Key Points

• Celcuity, Inc. recorded unusually high trading volume with approximately 803,958 shares changing hands, a significant increase of 235% from the previous session.
• Analysts have expressed a favorable outlook on the stock, with several firms issuing buy ratings and target prices ranging from $27.00 to $30.00.
• The company reported earnings of ($0.86) EPS, exceeding expectations, and it has a market cap of $519.29 million and a P/E ratio of -4.53.

Celcuity, Inc. (NASDAQ:CELC - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 803,958 shares traded hands during trading, an increase of 235% from the previous session's volume of 239,899 shares.The stock last traded at $14.24 and had previously closed at $14.05.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CELC shares. Stifel Nicolaus initiated coverage on shares of Celcuity in a research report on Tuesday, July 1st. They set a "buy" rating and a $30.00 price objective on the stock. HC Wainwright lifted their target price on shares of Celcuity from $27.00 to $50.00 and gave the stock a "buy" rating in a research report on Monday. Needham & Company LLC reiterated a "buy" rating and issued a $29.00 target price on shares of Celcuity in a research report on Monday. Finally, 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 research report on Monday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Celcuity currently has an average rating of "Buy" and a consensus price target of $39.20.

Celcuity Price Performance

The business's 50 day moving average price is $12.94 and its two-hundred day moving average price is $11.50. The stock has a market cap of $1.46 billion, a P/E ratio of -12.71 and a beta of 0.45. The company has a current ratio of 6.61, a quick ratio of 6.61 and a debt-to-equity ratio of 1.14.

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

Institutional Investors Weigh In On Celcuity

Several hedge funds have recently bought and sold shares of CELC. Vanguard Group Inc. boosted its stake in Celcuity by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 1,651,981 shares of the company's stock worth $21,624,000 after acquiring an additional 24,429 shares in the last quarter. Corebridge Financial Inc. boosted its stake in Celcuity by 12.9% during the fourth quarter. Corebridge Financial Inc. now owns 16,256 shares of the company's stock worth $213,000 after acquiring an additional 1,858 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Celcuity by 22.3% in the fourth quarter. JPMorgan Chase & Co. now owns 14,683 shares of the company's stock worth $192,000 after buying an additional 2,676 shares during the last quarter. Wellington Management Group LLP raised its holdings in Celcuity by 21.6% in the fourth quarter. Wellington Management Group LLP now owns 62,776 shares of the company's stock worth $822,000 after buying an additional 11,165 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Celcuity by 9.8% in the fourth quarter. Geode Capital Management LLC now owns 692,372 shares of the company's stock worth $9,065,000 after buying an additional 62,003 shares during the last quarter. Institutional investors own 63.33% of the company's stock.

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.