Celcuity (NASDAQ:CELC) Shares Gap Down - Time to Sell?

Key Points

• Celcuity, Inc. shares gapped down from a closing price of $36.79 to open at $35.00, with the latest trading price at $39.05 on a high volume of 800,856 shares.
• Multiple analysts have recently upgraded their ratings on Celcuity, with price targets ranging from $29.00 to $60.00, resulting in a consensus rating of "Buy" and a target price of $39.20.
• Celcuity, a biotechnology company focused on targeted therapies for solid tumors, reported a narrower than expected loss of ($0.86) earnings per share, surpassing estimates of ($0.95).

Shares of Celcuity, Inc. (NASDAQ:CELC - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $36.79, but opened at $35.00. Celcuity shares last traded at $39.05, with a volume of 800,856 shares.

Analysts Set New Price Targets

CELC has been the topic of several research reports. Needham & Company LLC reaffirmed a "buy" rating and set a $29.00 price objective on shares of Celcuity in a report on Monday. Leerink Partners raised their price objective on Celcuity from $28.00 to $60.00 and gave the stock an "outperform" rating in a report on Monday. Stifel Nicolaus started coverage on Celcuity in a research report on Tuesday, July 1st. They set a "buy" rating and a $30.00 target price on the stock. Finally, HC Wainwright upped their target price on Celcuity from $27.00 to $50.00 and gave the company a "buy" rating in a research note on Monday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Celcuity has a consensus rating of "Buy" and a consensus price target of $39.20.

Celcuity Price Performance

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 company has a market capitalization of $1.54 billion, a price-to-earnings ratio of -13.17 and a beta of 0.45. The stock's 50-day moving average price is $14.09 and its 200-day moving average price is $11.89.

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

Insider Activity at Celcuity

In related news, Director David Dalvey sold 100,000 shares of the stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $43.98, for a total transaction of $4,398,000.00. Following the completion of the transaction, the director owned 125,000 shares in the company, valued at approximately $5,497,500. This represents a 44.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 15.77% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Celcuity

A number of institutional investors and hedge funds have recently bought and sold shares of CELC. AlphaQuest LLC grew its stake in shares of Celcuity by 176.3% during the 2nd quarter. AlphaQuest LLC now owns 7,087 shares of the company's stock valued at $95,000 after acquiring an additional 4,522 shares during the period. Rhumbline Advisers lifted its position in Celcuity by 8.9% in the first quarter. Rhumbline Advisers now owns 42,194 shares of the company's stock worth $427,000 after buying an additional 3,439 shares during the last quarter. Baker BROS. Advisors LP increased its stake in Celcuity by 59.0% in the first quarter. Baker BROS. Advisors LP now owns 4,257,735 shares of the company's stock worth $43,046,000 after purchasing an additional 1,579,182 shares during the period. Paloma Partners Management Co purchased a new position in Celcuity in the first quarter valued at about $215,000. Finally, Tema Etfs LLC acquired a new stake in Celcuity in the first quarter worth about $158,000. 63.33% of the stock is 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.