Bank of America Corp DE Makes New $153.93 Million Investment in Celcuity, Inc. $CELC

Key Points

• Bank of America acquired a new $153.9 million stake in Celcuity, purchasing 1.47 million shares and gaining a 3.02% ownership position. Institutional investors collectively own 63.33% of the company.
• Analyst sentiment remains broadly positive, with 11 Buy ratings and one Sell rating, producing a “Moderate Buy” consensus and an average price target of $154.75.
• Celcuity shares opened at $84.91, well below their 12-month high of $151.02. The company recently reported a quarterly loss of $1.44 per share, missing the $1.16 consensus estimate.

Bank of America Corp DE bought a new stake in shares of Celcuity, Inc. (NASDAQ:CELC - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,471,307 shares of the company's stock, valued at approximately $153,928,000. Bank of America Corp DE owned 3.02% of Celcuity as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Parallel Advisors LLC bought a new position in Celcuity during the first quarter valued at approximately $38,000. EverSource Wealth Advisors LLC grew its position in Celcuity by 1,329.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 343 shares of the company's stock worth $34,000 after acquiring an additional 319 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Celcuity by 20.1% in the first quarter. PNC Financial Services Group Inc. now owns 514 shares of the company's stock worth $59,000 after acquiring an additional 86 shares in the last quarter. KBC Group NV acquired a new position in shares of Celcuity during the 1st quarter worth $64,000. Finally, IFP Advisors Inc acquired a new position in shares of Celcuity during the 2nd quarter worth $73,000. 63.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. HC Wainwright restated a "buy" rating and set a $155.00 price target on shares of Celcuity in a report on Friday, August 14th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Celcuity in a report on Tuesday, September 1st. Stifel Nicolaus lowered their target price on shares of Celcuity from $175.00 to $150.00 and set a "buy" rating on the stock in a research report on Friday, August 14th. Citizens Jmp restated a "market outperform" rating and set a $177.00 target price on shares of Celcuity in a report on Monday, August 17th. Finally, Craig Hallum reaffirmed a "buy" rating and issued a $178.00 price target on shares of Celcuity in a research report on Wednesday, July 15th. Eleven equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Celcuity currently has a consensus rating of "Moderate Buy" and a consensus price target of $154.75.

Celcuity Stock Up 2.8%

CELC stock opened at $84.91 on Friday. Celcuity, Inc. has a twelve month low of $44.42 and a twelve month high of $151.02. The company has a quick ratio of 8.93, a current ratio of 8.93 and a debt-to-equity ratio of 6.04. The company has a market cap of $4.15 billion, a PE ratio of -19.75 and a beta of 0.19. The business's 50-day simple moving average is $90.72 and its 200 day simple moving average is $105.48.

Celcuity (NASDAQ:CELC - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($1.44) EPS for the quarter, missing the consensus estimate of ($1.16) by ($0.28). On average, research analysts anticipate that Celcuity, Inc. will post -4.75 earnings per share for the current year.

Celcuity Company Profile

Celcuity, Inc is a biotechnology company focused on advancing personalized medicine through functional diagnostics. Its technology is designed to analyze living tumor cells obtained from patient tissue and identify abnormal signaling activity that may influence how a cancer responds to specific therapies.

The company's primary platform, CELsignia, uses proprietary assays to measure the activity of cellular signaling pathways in a patient's tumor cells. Celcuity develops these tests for use in oncology drug development, patient selection, and potentially as companion diagnostics to help identify patients who are most likely to benefit from targeted treatments.

Celcuity works with biopharmaceutical companies and research organizations to evaluate drug-response biomarkers and support precision oncology programs.

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