Celcuity (NASDAQ:CELC) Sets New 12-Month High - Here's What Happened

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 reached a new 52-week high during trading on Monday . The stock traded as high as $46.22 and last traded at $44.63, with a volume of 8927249 shares changing hands. The stock had previously closed at $13.77.

Analysts Set New Price Targets

Several research firms recently issued reports on CELC. Leerink Partners upped their price target on Celcuity from $28.00 to $60.00 and gave the company an "outperform" rating in a research report on Monday. HC Wainwright increased their price target on Celcuity from $27.00 to $50.00 and gave the company a "buy" rating in a research report on Monday. Needham & Company LLC reissued a "buy" rating and issued a $29.00 price objective on shares of Celcuity in a research note on Monday. Finally, Stifel Nicolaus assumed coverage on Celcuity in a research note on Tuesday, July 1st. They set a "buy" rating and a $30.00 price target for the company. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Celcuity presently has a consensus rating of "Buy" and an average price target of $39.20.

Celcuity Stock Up 9.9%

The firm has a market cap of $1.53 billion, a P/E ratio of -13.34 and a beta of 0.45. The company has a quick ratio of 6.61, a current ratio of 6.61 and a debt-to-equity ratio of 1.14. The business has a fifty day moving average of $12.94 and a 200 day moving average of $11.50.

Celcuity (NASDAQ:CELC - Get Free Report) last released its quarterly 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. On average, equities research analysts predict that Celcuity, Inc. will post -2.62 EPS for the current year.

Hedge Funds Weigh In On Celcuity

A number of hedge funds have recently added to or reduced their stakes in the stock. Summit Investment Advisors Inc. boosted its position in Celcuity by 49.5% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,421 shares of the company's stock worth $45,000 after acquiring an additional 1,132 shares during the last quarter. Aquatic Capital Management LLC purchased a new position in Celcuity during the 4th quarter valued at about $50,000. Focus Financial Network Inc. acquired a new stake in shares of Celcuity during the 1st quarter worth about $108,000. Perkins Capital Management Inc. acquired a new position in Celcuity during the first quarter valued at approximately $115,000. Finally, GAMMA Investing LLC increased its stake in shares of Celcuity by 1,237.4% in the first quarter. GAMMA Investing LLC now owns 1,324 shares of the company's stock worth $131,000 after buying an additional 1,225 shares during the last quarter. 63.33% of the stock is currently owned by institutional investors.

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.