Bank of New York Mellon Corp Purchases New Holdings in Celcuity, Inc. $CELC

Key Points

• Bank of New York Mellon acquired 116,370 Celcuity shares worth approximately $12.2 million, while institutional investors collectively owned 63.33% of the company.
• Celcuity reported a quarterly loss of $1.44 per share, missing the $1.16-per-share consensus estimate; analysts expect a full-year loss of $4.75 per share.
• Despite recent price declines, analysts maintain a Moderate Buy consensus, with an average price target of $154.55 versus the stock’s reported price of $91.98.

Bank of New York Mellon Corp acquired a new stake in Celcuity, Inc. (NASDAQ:CELC - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 116,370 shares of the company's stock, valued at approximately $12,175,000. Bank of New York Mellon Corp owned 0.24% of Celcuity at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CELC. NEA Management Company LLC increased its holdings in Celcuity by 64.9% during 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 last quarter. Avoro Capital Advisors LLC purchased a new position in Celcuity in the fourth quarter valued at about $310,302,000. Soleus Capital Management L.P. grew its position in shares of Celcuity by 17.0% during the 2nd quarter. Soleus Capital Management L.P. now owns 3,011,818 shares of the company's stock valued at $40,208,000 after acquiring an additional 437,696 shares during the period. Vanguard Group Inc. grew its position in shares of Celcuity by 10.7% during the 4th quarter. Vanguard Group Inc. now owns 2,279,433 shares of the company's stock valued at $227,351,000 after acquiring an additional 220,386 shares during the period. Finally, State Street Corp raised its holdings in shares of Celcuity by 126.6% in the 4th quarter. State Street Corp now owns 1,637,687 shares of the company's stock worth $163,343,000 after purchasing an additional 914,887 shares during the period. 63.33% of the stock is currently owned by institutional investors.

Celcuity Price Performance

CELC stock opened at $91.98 on Wednesday. The firm has a 50 day moving average of $94.66 and a 200-day moving average of $106.96. The firm has a market capitalization of $4.50 billion, a P/E ratio of -21.39 and a beta of 0.21. Celcuity, Inc. has a 12 month low of $44.42 and a 12 month high of $151.02. The company has a current ratio of 8.93, a quick ratio of 8.93 and a debt-to-equity ratio of 6.04.

Celcuity (NASDAQ:CELC - Get Free Report) last announced 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). As a group, sell-side analysts predict that Celcuity, Inc. will post -4.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wells Fargo & Company reduced their price objective on Celcuity from $183.00 to $166.00 and set an "overweight" rating for the company in a report on Wednesday, June 3rd. Macquarie Infrastructure set a $160.00 target price on Celcuity in a research note on Thursday, May 28th. Citizens Jmp reaffirmed a "market outperform" rating and set a $177.00 price target on shares of Celcuity in a research report on Monday, August 17th. Stifel Nicolaus cut their price target on Celcuity from $175.00 to $150.00 and set a "buy" rating for the company in a research note on Friday, August 14th. Finally, Leerink Partners set a $155.00 price objective on Celcuity in a report on Tuesday, June 2nd. Ten 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 stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $154.55.

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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