Celcuity (NASDAQ:CELC) Stock Price Down 5.5% - What's Next?

Key Points

• Celcuity's share price dropped 5.5% to $52.00, with trading volume falling significantly to 152,250 shares, down 75% from the average.
• Despite recent analyst downgrades, Celcuity maintains an average rating of "Buy" with a consensus price target of $56.50.
• Celcuity reported a quarterly loss of $1.04 EPS, missing estimates, while analysts project an annual EPS of -2.62 for the fiscal year.

Celcuity, Inc. (NASDAQ:CELC - Get Free Report)'s share price dropped 5.5% on Friday . The company traded as low as $52.25 and last traded at $52.00. Approximately 152,250 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 616,091 shares. The stock had previously closed at $55.03.

Analyst Upgrades and Downgrades

CELC has been the subject of a number of research reports. Stifel Nicolaus initiated coverage on shares of Celcuity in a report on Tuesday, July 1st. They issued a "buy" rating and a $30.00 price target for the company. Needham & Company LLC lowered their price target on shares of Celcuity from $74.00 to $70.00 and set a "buy" rating for the company in a report on Friday, August 15th. Leerink Partners raised their price target on shares of Celcuity from $28.00 to $60.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Finally, HC Wainwright raised their price target on shares of Celcuity from $50.00 to $66.00 and gave the company a "buy" rating in a report on Monday, August 18th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $56.50.

Celcuity Trading Down 5.7%

The stock has a market capitalization of $2.20 billion, a P/E ratio of -15.04 and a beta of 0.72. The company has a debt-to-equity ratio of 2.24, a current ratio of 4.58 and a quick ratio of 4.58. The business's 50 day simple moving average is $42.86 and its 200-day simple moving average is $22.13.

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

Insider Buying and Selling at Celcuity

In other news, Director David Dalvey sold 100,000 shares of Celcuity stock in a transaction on 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 transaction, the director directly owned 125,000 shares of the company's stock, valued at $5,497,500. This trade represents a 44.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 15.78% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Celcuity

Hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its position in shares of Celcuity by 78.9% during the second 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 boosted its position in shares of Celcuity by 211.2% during the second 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 boosted its position in shares of Celcuity by 176.3% during the second 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. bought a new position in shares of Celcuity during the first quarter worth $108,000. Finally, Perkins Capital Management Inc. bought a new position in shares of Celcuity during the first quarter worth $115,000. 63.33% of the stock is owned by institutional investors.

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.