Celcuity (NASDAQ:CELC) Stock Price Down 5.1% - What's Next?

Key Points

• Celcuity's stock price dropped by 5.1%, trading at approximately $46.94, with an 84% decline in share volume compared to its average daily trading volume.
• Analysts have mixed opinions on Celcuity, with five rating it as a "Buy" and one as a "Sell", leading to a consensus rating of "Moderate Buy" and an average price target of $56.50.
• Insider trading activity includes Director David Dalvey selling 100,000 shares for approximately $4.4 million, representing a 44.44% reduction in his holdings.

Celcuity, Inc. (NASDAQ:CELC - Get Free Report) was down 5.1% during trading on Friday . The stock traded as low as $47.26 and last traded at $46.94. Approximately 104,850 shares changed hands during trading, a decline of 84% from the average daily volume of 649,686 shares. The stock had previously closed at $49.47.

Analysts Set New Price Targets

Several research analysts have recently commented on CELC shares. HC Wainwright lifted their target price on Celcuity from $50.00 to $66.00 and gave the stock a "buy" rating in a research note on Monday, August 18th. Stifel Nicolaus assumed coverage on Celcuity in a research note on Tuesday, July 1st. They issued a "buy" rating and a $30.00 price target for the company. Weiss Ratings restated a "sell (d-)" rating on shares of Celcuity in a research note on Wednesday. Leerink Partners boosted their price target on Celcuity from $28.00 to $60.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. Finally, Guggenheim assumed coverage on Celcuity in a research note on Monday, September 22nd. They issued a "buy" rating for the company. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $56.50.

Celcuity Price Performance

The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of -13.37 and a beta of 0.70. 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 company has a fifty day simple moving average of $51.09 and a two-hundred day simple moving average of $25.82.

Celcuity (NASDAQ:CELC - Get Free Report) last posted 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). As a group, equities research analysts expect that Celcuity, Inc. will post -2.62 earnings per share for the current fiscal year.

Insider Activity at Celcuity

In other news, Director David Dalvey sold 100,000 shares of the business's stock in a transaction on Monday, July 28th. The stock was 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 of the company's stock, valued at approximately $5,497,500. The trade was a 44.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 15.77% of the company's stock.

Hedge Funds Weigh In On Celcuity

Institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets increased its holdings 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 increased its holdings 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 increased its holdings 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. acquired a new position in Celcuity in the 1st quarter worth about $108,000. Finally, Perkins Capital Management Inc. acquired a new position in Celcuity in the 1st quarter worth about $115,000. Institutional investors and hedge funds own 63.33% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.