Celcuity (NASDAQ:CELC) Reaches New 12-Month High After Analyst Upgrade

Key Points

• Celcuity's stock price reached a new 52-week high of $46.22 before settling at $44.63, significantly up from a prior close of $13.77.
• Multiple analysts have issued 'buy' ratings for Celcuity, with price targets ranging from $27.00 to $30.00, indicating strong confidence in the stock's potential.
• The company's market capitalization stands at $1.48 billion, with a reported quarterly loss of ($0.86) EPS, outperforming analyst expectations.

Celcuity, Inc. (NASDAQ:CELC - Get Free Report)'s share price hit a new 52-week high during trading on Monday after Leerink Partners raised their price target on the stock from $28.00 to $60.00. Leerink Partners currently has an outperform rating on the stock. Celcuity traded as high as $46.22 and last traded at $44.63, with a volume of 8927249 shares trading hands. The stock had previously closed at $13.77.

Several other analysts have also recently commented on the stock. HC Wainwright upped their target price on shares of Celcuity from $27.00 to $50.00 and gave the company a "buy" rating in a research report on Monday. 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 for the company. Finally, Needham & Company LLC reissued a "buy" rating and issued a $29.00 price target on shares of Celcuity in a report on Monday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Celcuity presently has a consensus rating of "Buy" and a consensus target price of $39.20.

Insiders Place Their Bets

In related news, Director David Dalvey sold 100,000 shares of the company's stock in a transaction on Monday, July 28th. The shares were 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 approximately $5,497,500. This represents a 44.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 15.77% of the company's stock.

Institutional Investors Weigh In On Celcuity

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its position in Celcuity by 1,237.4% during the 1st quarter. GAMMA Investing LLC now owns 1,324 shares of the company's stock worth $131,000 after buying an additional 1,225 shares in the last quarter. Summit Investment Advisors Inc. lifted its position in Celcuity by 49.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,421 shares of the company's stock worth $45,000 after buying an additional 1,132 shares in the last quarter. Aquatic Capital Management LLC bought a new stake in Celcuity during the 4th quarter worth about $50,000. AlphaQuest LLC lifted its position in Celcuity by 176.3% during the 2nd quarter. AlphaQuest LLC now owns 7,087 shares of the company's stock worth $95,000 after buying an additional 4,522 shares in the last quarter. Finally, Focus Financial Network Inc. bought a new stake in Celcuity during the 1st quarter worth about $108,000. 63.33% of the stock is owned by institutional investors.

Celcuity Stock Down 2.8%

The company has a debt-to-equity ratio of 1.14, a quick ratio of 6.61 and a current ratio of 6.61. The firm's 50-day simple moving average is $14.09 and its 200 day simple moving average is $11.89. The stock has a market capitalization of $1.52 billion, a P/E ratio of -12.93 and a beta of 0.45.

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

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.