Celcuity (NASDAQ:CELC) Shares Gap Down - What's Next?

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).

Celcuity, Inc. (NASDAQ:CELC - Get Free Report) shares 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 changing hands.

Analyst Ratings Changes

Several research firms have recently issued reports on CELC. Leerink Partners upped their price objective on shares of Celcuity from $28.00 to $60.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Needham & Company LLC restated a "buy" rating and set a $29.00 price objective on shares of Celcuity in a report on Monday, July 28th. Stifel Nicolaus began coverage on shares of Celcuity in a report on Tuesday, July 1st. They set a "buy" rating and a $30.00 price objective on the stock. Finally, HC Wainwright upped their price objective on shares of Celcuity from $27.00 to $50.00 and gave the company a "buy" rating in a report on Monday, July 28th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $39.20.

Celcuity Trading Up 1.9%

The stock has a 50-day moving average of $15.25 and a 200 day moving average of $12.28. The stock has a market cap of $1.55 billion, a PE ratio of -13.17 and a beta of 0.67. The company has a quick ratio of 6.61, a current ratio of 6.61 and a debt-to-equity ratio of 1.14.

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 analysts' consensus estimates of ($0.95) by $0.09. As a group, sell-side analysts anticipate that Celcuity, Inc. will post -2.62 earnings per share for the current year.

Insider Buying and Selling

In related news, Director David Dalvey sold 100,000 shares of the company's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $43.98, for a total value of $4,398,000.00. Following the sale, the director owned 125,000 shares in the company, valued at $5,497,500. This represents a 44.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 15.77% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Celcuity

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Summit Investment Advisors Inc. increased its holdings in shares of Celcuity by 49.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,421 shares of the company's stock valued at $45,000 after purchasing an additional 1,132 shares in the last quarter. Aquatic Capital Management LLC purchased a new position in shares of Celcuity during the 4th quarter valued at approximately $50,000. AlphaQuest LLC increased its holdings 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 purchasing an additional 4,522 shares in the last quarter. Focus Financial Network Inc. purchased a new position in shares of Celcuity during the 1st quarter valued at approximately $108,000. Finally, Perkins Capital Management Inc. purchased a new position in shares of Celcuity during the 1st quarter valued at approximately $115,000. Institutional investors and hedge funds own 63.33% of the company's stock.

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.