Celcuity (NASDAQ:CELC) Stock Price Up 7.9% - What's Next?

Shares of Celcuity, Inc. (NASDAQ:CELC - Get Free Report) shot up 7.9% during mid-day trading on Wednesday . The company traded as high as $13.45 and last traded at $13.48. 53,312 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 242,636 shares. The stock had previously closed at $12.49.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Needham & Company LLC reiterated a "buy" rating and set a $29.00 price target on shares of Celcuity in a research report on Monday, June 30th. Stifel Nicolaus started coverage on shares of Celcuity in a report on Tuesday. They issued a "buy" rating and a $30.00 price objective on the stock. Finally, HC Wainwright restated a "buy" rating and issued a $27.00 price objective on shares of Celcuity in a report on Monday, May 19th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Celcuity has a consensus rating of "Buy" and an average target price of $28.40.

Celcuity Trading Up 5.8%

The stock's fifty day moving average price is $11.52 and its 200 day moving average price is $11.26. 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 stock has a market cap of $522.23 million, a PE ratio of -4.55 and a beta of 0.45.

Celcuity (NASDAQ:CELC - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($0.86) earnings per share for the quarter, beating analysts' consensus estimates of ($0.95) by $0.09. On average, sell-side analysts forecast that Celcuity, Inc. will post -2.62 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its position in Celcuity by 8.9% during the first quarter. Rhumbline Advisers now owns 42,194 shares of the company's stock valued at $427,000 after purchasing an additional 3,439 shares during the period. Baker BROS. Advisors LP lifted its position in Celcuity by 59.0% during the first quarter. Baker BROS. Advisors LP now owns 4,257,735 shares of the company's stock valued at $43,046,000 after purchasing an additional 1,579,182 shares during the period. Paloma Partners Management Co bought a new position in Celcuity during the first quarter valued at approximately $215,000. Tema Etfs LLC bought a new position in Celcuity during the first quarter valued at approximately $158,000. Finally, Trexquant Investment LP lifted its position in Celcuity by 131.3% during the first quarter. Trexquant Investment LP now owns 26,920 shares of the company's stock valued at $272,000 after purchasing an additional 15,280 shares during the period. Institutional investors 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.