Celcuity (NASDAQ:CELC) Shares Down 4.8% - Here's Why

Key Points

• Celcuity's shares dropped by 4.8% to $47.02 on Wednesday, with trading volume down 49% from the average session, signaling potential bearish trends.
• The company's quarterly earnings report showed a disappointing EPS of ($1.04), missing analyst estimates, while analysts still maintain a consensus Buy rating with an average target price of $56.50.
• Significant insider trading occurred as Director David Dalvey sold 100,000 shares, representing a substantial 44.44% decrease in his position, raising concerns about insider sentiment.

Celcuity, Inc. (NASDAQ:CELC - Get Free Report)'s share price fell 4.8% on Wednesday . The company traded as low as $47.00 and last traded at $47.02. 319,113 shares traded hands during trading, a decline of 49% from the average session volume of 628,583 shares. The stock had previously closed at $49.40.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CELC. Stifel Nicolaus began coverage on shares of Celcuity in a research report on Tuesday, July 1st. They set a "buy" rating and a $30.00 target price for the company. Needham & Company LLC reduced 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. HC Wainwright increased their target price 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. Leerink Partners increased their target price 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. Finally, Guggenheim began coverage on shares of Celcuity in a research report on Monday, September 22nd. They set a "buy" rating for the company. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $56.50.

Celcuity Stock Down 9.2%

The company has a market capitalization of $1.90 billion, a PE ratio of -13.09 and a beta of 0.72. The company has a debt-to-equity ratio of 2.24, a quick ratio of 4.58 and a current ratio of 4.58. The stock's 50 day moving average is $48.20 and its 200 day moving average is $24.07.

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

Insider Transactions at Celcuity

In other Celcuity news, Director David Dalvey sold 100,000 shares of the stock in a transaction that occurred 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 sale, the director directly owned 125,000 shares in the company, valued at $5,497,500. This represents a 44.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 15.78% of the stock is owned by corporate insiders.

Institutional Trading of Celcuity

Several institutional investors and hedge funds have recently bought and sold shares of CELC. BNP Paribas Financial Markets lifted its stake in Celcuity by 78.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,647 shares of the company's stock worth $35,000 after purchasing an additional 1,167 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Celcuity by 211.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,549 shares of the company's stock worth $74,000 after purchasing an additional 3,766 shares in the last quarter. AlphaQuest LLC lifted its stake in Celcuity by 176.3% in the 2nd quarter. AlphaQuest LLC now owns 7,087 shares of the company's stock worth $95,000 after purchasing an additional 4,522 shares in the last quarter. Focus Financial Network Inc. purchased a new stake in Celcuity in the 1st quarter worth approximately $108,000. Finally, Perkins Capital Management Inc. purchased a new stake in Celcuity in the 1st quarter worth approximately $115,000. 63.33% of the stock is currently owned by hedge funds and other 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.

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