Celcuity (NASDAQ:CELC) Shares Gap Down After Analyst Downgrade

Key Points

• Celcuity shares gapped down after HC Wainwright cut its price target to $145 from $185, even though the firm kept a buy rating. The stock opened below its prior close and was trading lower on the day.
• Analysts remain generally bullish overall, with 11 Buy ratings and one Sell rating and an average target price of $153.73. Still, some firms recently adjusted targets, reflecting mixed views on the stock.
• The company is drawing attention for both clinical progress and financing concerns: its gedatolisib trial data were described as promising, but Reuters reported the detailed readout disappointed investors, and Celcuity also proposed a $400 million convertible notes offering that could add dilution risk.

Celcuity, Inc. (NASDAQ:CELC - Get Free Report) gapped down prior to trading on Wednesday after HC Wainwright lowered their price target on the stock from $185.00 to $145.00. The stock had previously closed at $91.42, but opened at $86.65. HC Wainwright currently has a buy rating on the stock. Celcuity shares last traded at $89.52, with a volume of 567,193 shares traded.

Several other research firms also recently weighed in on CELC. Stifel Nicolaus set a $150.00 price objective on shares of Celcuity in a report on Monday, May 4th. Guggenheim upped their price target on shares of Celcuity from $135.00 to $165.00 and gave the stock a "buy" rating in a research note on Monday, May 4th. Macquarie Infrastructure set a $160.00 price objective on shares of Celcuity in a research note on Thursday, May 28th. Wolfe Research restated an "outperform" rating and issued a $110.00 target price on shares of Celcuity in a research report on Thursday, March 12th. Finally, Craig Hallum reiterated a "buy" rating and set a $189.00 price target on shares of Celcuity in a research report on Monday, May 4th. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Celcuity presently has an average rating of "Moderate Buy" and an average target price of $153.73.

Insiders Place Their Bets

In other news, Director David Dalvey sold 25,000 shares of the business's stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $140.68, for a total transaction of $3,517,000.00. Following the sale, the director owned 65,000 shares in the company, valued at $9,144,200. The trade was a 27.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard E. Buller sold 9,000 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $140.46, for a total value of $1,264,140.00. Following the completion of the sale, the director owned 6,760 shares of the company's stock, valued at $949,509.60. The trade was a 57.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 37,000 shares of company stock worth $5,111,950 over the last 90 days. Insiders own 13.33% of the company's stock.

Celcuity News Roundup

Here are the key news stories impacting Celcuity this week:

• Positive Sentiment: HC Wainwright lowered its price target on Celcuity to $145 from $185 but kept a buy rating, implying meaningful upside from the current share price. HC Wainwright price target update
• Positive Sentiment: Celcuity said gedatolisib combination regimens doubled the likelihood of survival without disease progression or death versus the comparator in the PIK3CA-mutant cohort of VIKTORIA-1, supporting the drug’s clinical potential. Celcuity VIKTORIA-1 topline release
• Neutral Sentiment: The company announced a conference call to discuss the Phase 3 VIKTORIA-1 results, which could provide more detail on the data and commercial outlook. Conference call announcement
• Negative Sentiment: Reuters and other outlets reported that Celcuity’s stock plunged after the detailed trial readout was seen as disappointing relative to expectations, despite the positive headline efficacy result. Reuters trial disappointment report
• Negative Sentiment: Celcuity also announced a proposed $400 million public offering of convertible senior notes due 2032, which may raise dilution and financing concerns for shareholders. Convertible notes offering

Institutional Trading of Celcuity

A number of hedge funds have recently made changes to their positions in CELC. EverSource Wealth Advisors LLC boosted its holdings in shares of Celcuity by 1,329.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 343 shares of the company's stock worth $34,000 after purchasing an additional 319 shares during the period. US Bancorp DE increased its stake in Celcuity by 25.4% in the 3rd quarter. US Bancorp DE now owns 706 shares of the company's stock valued at $35,000 after buying an additional 143 shares during the period. BNP Paribas Financial Markets lifted its position 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 buying an additional 1,167 shares in the last quarter. Parallel Advisors LLC acquired a new position in shares of Celcuity in the first quarter worth $38,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Celcuity during the fourth quarter worth $42,000. 63.33% of the stock is owned by hedge funds and other institutional investors.

Celcuity Trading Down 2.1%

The company has a quick ratio of 12.31, a current ratio of 12.31 and a debt-to-equity ratio of 6.04. The business has a 50-day moving average of $123.29 and a 200-day moving average of $111.48. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of -22.95 and a beta of 0.10.

Celcuity (NASDAQ:CELC - Get Free Report) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.97) earnings per share for the quarter, topping analysts' consensus estimates of ($1.07) by $0.10. As a group, research analysts forecast that Celcuity, Inc. will post -3.96 earnings per share for the current year.

Celcuity Company Profile

Celcuity, Inc is a clinical-stage biotechnology company specializing in precision oncology diagnostics. The company develops and commercializes predictive biomarker assays designed to identify which patients are most likely to benefit from targeted cancer therapies. By integrating functional profiling of tumor cells with molecular analyses, Celcuity seeks to optimize treatment selection and improve outcomes for patients with solid tumors.

Celcuity’s proprietary platform evaluates tumor cell sensitivity to various therapeutic agents using ex vivo assays that measure DNA damage response and other critical pathways.

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