Celcuity (NASDAQ:CELC) Shares Up 8.3% - Here's Why

Key Points

• Celcuity's shares rose 8.3% during trading, reaching a high of $50.98, with a trading volume increase of 22% compared to the average daily volume.
• Multiple analysts have issued favorable ratings and significantly increased their price targets for Celcuity, with a consensus rating of "Moderate Buy" and an average price target of $56.50.
• Insider trading activity included a 100,000 share sale by a director, reducing their holdings by 44.44%, highlighting potential caution from insiders amidst positive market performance.

Celcuity, Inc. (NASDAQ:CELC - Get Free Report) rose 8.3% during trading on Wednesday . The company traded as high as $50.98 and last traded at $50.03. Approximately 1,252,455 shares traded hands during mid-day trading, an increase of 22% from the average daily volume of 1,027,480 shares. The stock had previously closed at $46.20.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CELC shares. Guggenheim started coverage on Celcuity in a report on Monday, September 22nd. They set a "buy" rating for the company. Stifel Nicolaus started coverage on shares of Celcuity in a research report on Tuesday, July 1st. They set a "buy" rating and a $30.00 price objective on the stock. Leerink Partners increased their price target on shares of Celcuity from $28.00 to $60.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Needham & Company LLC restated a "buy" rating and set a $70.00 price target on shares of Celcuity in a research note on Friday, October 3rd. Finally, HC Wainwright increased their price target on shares of Celcuity from $50.00 to $66.00 and gave the stock a "buy" rating in a research note on Monday, August 18th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $56.50.

Celcuity Stock Performance

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 simple moving average is $51.48 and its two-hundred day simple moving average is $26.84. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of -14.50 and a beta of 0.70.

Celcuity (NASDAQ:CELC - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($1.04) EPS for the quarter, missing analysts' consensus estimates of ($0.90) by ($0.14). Analysts forecast that Celcuity, Inc. will post -2.62 earnings per share for the current year.

Insiders Place Their Bets

In other Celcuity news, Director David Dalvey sold 100,000 shares of the firm'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 completion of the sale, the director owned 125,000 shares in the company, valued at approximately $5,497,500. This trade represents a 44.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.77% of the stock is currently owned by company insiders.

Institutional Trading of Celcuity

Several hedge funds have recently modified their holdings of CELC. BNP Paribas Financial Markets raised its holdings in shares of Celcuity by 78.9% in the second quarter. BNP Paribas Financial Markets now owns 2,647 shares of the company's stock valued at $35,000 after buying an additional 1,167 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Celcuity by 211.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,549 shares of the company's stock valued at $74,000 after acquiring an additional 3,766 shares in the last quarter. AlphaQuest LLC increased its position in Celcuity by 176.3% in 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 in the last quarter. Perkins Capital Management Inc. acquired a new position in Celcuity during the 1st quarter worth $115,000. Finally, GAMMA Investing LLC raised its position in shares of Celcuity by 1,237.4% during the first quarter. GAMMA Investing LLC now owns 1,324 shares of the company's stock worth $131,000 after acquiring an additional 1,225 shares during the last quarter. 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.

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