Assenagon Asset Management S.A. Buys New Shares in Celcuity, Inc. $CELC

Key Points

• Assenagon Asset Management purchased 188,141 Celcuity shares worth approximately $19.7 million, representing a 0.39% stake. Institutional investors collectively own 63.33% of the company.
• Analyst sentiment remains favorable, with 10 Buy ratings and one Sell rating; Celcuity has a “Moderate Buy” consensus and an average price target of $155.18.
• Celcuity shares opened at $92.79, well below their 52-week high of $151.02. The company recently reported a quarterly loss of $0.97 per share, beating estimates for a $1.07 loss.

Assenagon Asset Management S.A. bought a new position in Celcuity, Inc. (NASDAQ:CELC - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 188,141 shares of the company's stock, valued at approximately $19,683,000. Assenagon Asset Management S.A. owned 0.39% of Celcuity as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Avoro Capital Advisors LLC bought a new position in Celcuity during the 4th quarter worth approximately $310,302,000. NEA Management Company LLC increased its stake in shares of Celcuity by 64.9% in the fourth quarter. NEA Management Company LLC now owns 3,535,561 shares of the company's stock worth $352,637,000 after buying an additional 1,391,300 shares during the period. State Street Corp raised its holdings in Celcuity by 126.6% during the 4th quarter. State Street Corp now owns 1,637,687 shares of the company's stock valued at $163,343,000 after buying an additional 914,887 shares during the last quarter. UBS Group AG boosted its position in Celcuity by 910.1% during the 3rd quarter. UBS Group AG now owns 854,483 shares of the company's stock valued at $42,211,000 after buying an additional 769,891 shares during the period. Finally, Deerfield Management Company L.P. purchased a new stake in Celcuity during the 3rd quarter valued at $36,236,000. 63.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CELC has been the subject of a number of recent analyst reports. Craig Hallum reaffirmed a "buy" rating and set a $178.00 price target on shares of Celcuity in a research report on Wednesday, July 15th. Leerink Partners set a $155.00 price target on Celcuity in a research note on Tuesday, June 2nd. Guggenheim reiterated a "buy" rating on shares of Celcuity in a report on Wednesday, June 3rd. Citizens Jmp lifted their target price on shares of Celcuity from $160.00 to $177.00 and gave the company a "market outperform" rating in a research note on Wednesday, July 15th. Finally, Citigroup reiterated an "outperform" rating on shares of Celcuity in a research report on Wednesday, July 15th. Ten investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Celcuity currently has an average rating of "Moderate Buy" and an average price target of $155.18.

Celcuity Stock Performance

Shares of CELC opened at $92.79 on Monday. The company has a quick ratio of 12.31, a current ratio of 12.31 and a debt-to-equity ratio of 6.04. The business's 50 day moving average price is $94.57 and its 200-day moving average price is $109.10. Celcuity, Inc. has a 52 week low of $44.16 and a 52 week high of $151.02. The stock has a market cap of $4.53 billion, a P/E ratio of -23.79 and a beta of 0.21.

Celcuity (NASDAQ:CELC - Get Free Report) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.97) earnings per share for the quarter, beating analysts' consensus estimates of ($1.07) by $0.10. Equities research analysts anticipate that Celcuity, Inc. will post -3.76 earnings per share for the current fiscal year.

About Celcuity

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source