Celcuity (NASDAQ:CELC) Trading 7.7% Higher - Here's What Happened

Key Points

• Celcuity shares rose 7.7% in Tuesday trading, reaching an intraday high of $111.84 on volume slightly above its average session level.
• Recent analyst coverage has been mostly positive, with 11 Buy ratings and 1 Sell; the consensus target price is $152.09, while several firms maintained or set higher targets around $155 to $166.
• The company’s latest quarterly results beat expectations, reporting EPS of -$0.97 versus the -$1.07 estimate, even as insiders had previously sold shares under pre-arranged trading plans.

Shares of Celcuity, Inc. (NASDAQ:CELC - Get Free Report) traded up 7.7% during mid-day trading on Tuesday . The company traded as high as $111.84 and last traded at $111.7840. Approximately 1,098,396 shares traded hands during mid-day trading, an increase of 7% from the average session volume of 1,029,468 shares. The stock had previously closed at $103.79.

Analyst Ratings Changes

A number of research firms recently commented on CELC. Leerink Partners set a $155.00 price objective on Celcuity in a research report on Tuesday, June 2nd. Citigroup reissued a "market outperform" rating on shares of Celcuity in a research report on Thursday, May 28th. Wall Street Zen downgraded Celcuity from a "hold" rating to a "sell" rating in a research note on Saturday, April 25th. Macquarie Infrastructure set a $160.00 price target on shares of Celcuity in a research report on Thursday, May 28th. Finally, Wells Fargo & Company lowered their price objective on shares of Celcuity from $183.00 to $166.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 3rd. Eleven research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $152.09.

Celcuity Stock Performance

The company has a current ratio of 12.31, a quick ratio of 12.31 and a debt-to-equity ratio of 6.04. The company has a market cap of $5.46 billion, a P/E ratio of -28.76 and a beta of 0.16. The business's 50 day simple moving average is $111.44 and its 200 day simple moving average is $111.07.

Celcuity (NASDAQ:CELC - Get Free Report) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.97) earnings per share for the quarter, topping analysts' consensus estimates of ($1.07) by $0.10. Sell-side analysts predict that Celcuity, Inc. will post -3.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Celcuity

In related news, Director Richard E. Buller sold 9,000 shares of the company's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $140.46, for a total value of $1,264,140.00. Following the completion of the transaction, the director owned 6,760 shares of the company's stock, valued at approximately $949,509.60. This represents a 57.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director David Dalvey sold 25,000 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $140.68, for a total value of $3,517,000.00. Following the completion of the sale, the director owned 65,000 shares of the company's stock, valued at $9,144,200. The trade was a 27.78% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 13.33% of the company's stock.

Institutional Trading of Celcuity

Several institutional investors and hedge funds have recently added to or reduced their stakes in CELC. Tudor Investment Corp ET AL bought a new stake in shares of Celcuity during the third quarter valued at approximately $1,351,000. Jennison Associates LLC bought a new position in shares of Celcuity during the fourth quarter worth $22,911,000. HighVista Strategies LLC bought a new position in shares of Celcuity during the third quarter worth $676,000. Geode Capital Management LLC boosted its position in shares of Celcuity by 8.4% during the fourth quarter. Geode Capital Management LLC now owns 830,684 shares of the company's stock worth $82,872,000 after acquiring an additional 64,213 shares during the last quarter. Finally, TD Asset Management Inc grew its stake in Celcuity by 34.0% during the fourth quarter. TD Asset Management Inc now owns 97,526 shares of the company's stock valued at $9,727,000 after acquiring an additional 24,730 shares in the last quarter. Institutional investors own 63.33% of the company's stock.

Celcuity Company Profile

Celcuity, Inc is a clinical-stage biotechnology company specializing in precision oncology diagnostics. The company develops and commercializes predictive biomarker assays designed to identify which patients are most likely to benefit from targeted cancer therapies. By integrating functional profiling of tumor cells with molecular analyses, Celcuity seeks to optimize treatment selection and improve outcomes for patients with solid tumors.

Celcuity’s proprietary platform evaluates tumor cell sensitivity to various therapeutic agents using ex vivo assays that measure DNA damage response and other critical pathways.

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