Celcuity (NASDAQ:CELC) Stock Price Down 6.9% - What's Next?

Key Points

• Celcuity's stock price dropped by 6.9% to $56.60, with trading volume declining to 328,977 shares, significantly below its average session volume.
• The company recently reported a quarterly earnings miss, with an EPS of ($1.04) compared to the consensus estimate of ($0.90).
• Several analysts maintain a Buy rating on Celcuity, with price targets ranging from $30.00 to $70.00, reflecting a general positive outlook despite the recent stock decline.

Celcuity, Inc. (NASDAQ:CELC - Get Free Report) traded down 6.9% on Wednesday . The stock traded as low as $56.88 and last traded at $56.60. 328,977 shares changed hands during trading, a decline of 46% from the average session volume of 606,012 shares. The stock had previously closed at $60.77.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Stifel Nicolaus assumed coverage on Celcuity in a report on Tuesday, July 1st. They issued a "buy" rating and a $30.00 target price for the company. Leerink Partners lifted their price target on 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 cut their price target on Celcuity from $74.00 to $70.00 and set a "buy" rating for the company in a research note on Friday, August 15th. Finally, HC Wainwright lifted their price target on Celcuity from $50.00 to $66.00 and gave the stock a "buy" rating in a research note on Monday, August 18th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $56.50.

Celcuity Stock Down 8.0%

The firm's 50 day moving average is $36.26 and its two-hundred day moving average is $19.56. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of -16.21 and a beta of 0.72. The company has a current ratio of 4.58, a quick ratio of 4.58 and a debt-to-equity ratio of 2.24.

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

Insider Activity at Celcuity

In other news, Director David Dalvey sold 100,000 shares of the company's 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 of the company's stock, valued at $5,497,500. This represents a 44.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 15.78% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CELC. Baker BROS. Advisors LP grew its holdings in shares of Celcuity by 59.0% during the 1st 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. Soleus Capital Management L.P. grew its holdings in shares of Celcuity by 106.0% during the 4th quarter. Soleus Capital Management L.P. now owns 2,565,087 shares of the company's stock worth $33,577,000 after purchasing an additional 1,319,700 shares during the period. Janus Henderson Group PLC purchased a new stake in shares of Celcuity during the 4th quarter worth about $8,468,000. Balyasny Asset Management L.P. purchased a new stake in shares of Celcuity during the 2nd quarter worth about $3,197,000. Finally, Ameriprise Financial Inc. grew its holdings in shares of Celcuity by 27.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 768,796 shares of the company's stock worth $10,263,000 after purchasing an additional 166,324 shares during the period. 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.

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