Bank of America Corp DE Sells 262,789 Shares of Celcuity, Inc. $CELC

Key Points

• Bank of America reduced its Celcuity stake by 26.9%, selling 262,789 shares during the first quarter. It still held 714,329 shares worth approximately $81.5 million, representing a 1.46% ownership position.
• Celcuity shares opened at $92.79, down from their 200-day moving average of $109.10, while the company reported a quarterly loss of $0.97 per share—better than analysts’ expected loss of $1.07.
• Analyst sentiment remains broadly positive, with 10 Buy ratings and one Sell rating. The stock has a “Moderate Buy” consensus rating and an average price target of $155.18.

Bank of America Corp DE decreased its stake in Celcuity, Inc. (NASDAQ:CELC - Free Report) by 26.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 714,329 shares of the company's stock after selling 262,789 shares during the quarter. Bank of America Corp DE owned 1.46% of Celcuity worth $81,534,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC raised its holdings 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 purchasing an additional 319 shares during the period. BNP Paribas Financial Markets lifted its holdings in 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 acquiring an additional 1,167 shares in the last quarter. US Bancorp DE grew its stake in Celcuity by 25.4% in the third quarter. US Bancorp DE now owns 706 shares of the company's stock valued at $35,000 after acquiring an additional 143 shares during the period. Parallel Advisors LLC acquired a new position in Celcuity in the first quarter valued at about $38,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of Celcuity in the fourth quarter worth about $42,000. 63.33% of the stock is currently owned by institutional investors and hedge funds.

Celcuity Stock Performance

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

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CELC. Needham & Company LLC reaffirmed a "buy" rating and set a $157.00 price target on shares of Celcuity in a research report on Friday, May 15th. Wells Fargo & Company decreased their price objective on Celcuity from $183.00 to $166.00 and set an "overweight" rating for the company in a research report on Wednesday, June 3rd. Wall Street Zen cut Celcuity from a "hold" rating to a "sell" rating in a research note on Saturday, April 25th. HC Wainwright raised their target price on shares of Celcuity from $145.00 to $155.00 and gave the stock a "buy" rating in a report on Wednesday, July 15th. Finally, Stifel Nicolaus set a $150.00 price target on shares of Celcuity in a research note on Monday, May 4th. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $155.18.

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.

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