Charles Schwab Investment Management Inc. Decreases Position in Celcuity, Inc. $CELC

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Celcuity, Inc. by 2.4% during Q1, now holding approximately $2.35 million worth of shares.
• Celcuity's stock price dropped by 6.2%, with a current value of $51.23 and a significant market cap of $2.17 billion.
• Analysts project a consensus rating of "Buy" for Celcuity, with an average price target of $56.50, reflecting optimistic growth expectations.

Charles Schwab Investment Management Inc. trimmed its position in Celcuity, Inc. (NASDAQ:CELC - Free Report) by 2.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 232,036 shares of the company's stock after selling 5,670 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.61% of Celcuity worth $2,346,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Baker BROS. Advisors LP increased its holdings in Celcuity by 42.9% in the 4th quarter. Baker BROS. Advisors LP now owns 2,678,553 shares of the company's stock worth $35,062,000 after acquiring an additional 803,575 shares in the last quarter. Soleus Capital Management L.P. boosted its stake in shares of Celcuity by 106.0% in the fourth quarter. Soleus Capital Management L.P. now owns 2,565,087 shares of the company's stock worth $33,577,000 after acquiring an additional 1,319,700 shares during the period. Janus Henderson Group PLC bought a new position in shares of Celcuity in the fourth quarter worth about $8,468,000. Captrust Financial Advisors boosted its stake in shares of Celcuity by 1.4% in the fourth quarter. Captrust Financial Advisors now owns 468,096 shares of the company's stock worth $6,127,000 after acquiring an additional 6,302 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in shares of Celcuity by 45.9% in the fourth quarter. Ameriprise Financial Inc. now owns 447,171 shares of the company's stock worth $5,853,000 after acquiring an additional 140,642 shares during the period. 63.33% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Celcuity

In other Celcuity news, Director David Dalvey sold 100,000 shares of the company's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $43.98, for a total transaction of $4,398,000.00. Following the sale, the director directly owned 125,000 shares in the company, valued at $5,497,500. This 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 at this link. 15.77% of the stock is currently owned by company insiders.

Celcuity Price Performance

Shares of NASDAQ:CELC traded up $0.05 during mid-day trading on Wednesday, reaching $53.63. The stock had a trading volume of 153,561 shares, compared to its average volume of 600,830. The company has a current ratio of 4.58, a quick ratio of 4.58 and a debt-to-equity ratio of 2.24. The company has a market cap of $2.28 billion, a P/E ratio of -15.54 and a beta of 0.72. Celcuity, Inc. has a 1 year low of $7.57 and a 1 year high of $55.44. The business's 50 day moving average price is $31.76 and its 200 day moving average price is $18.01.

Celcuity (NASDAQ:CELC - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported ($1.04) EPS for the quarter, missing analysts' consensus estimates of ($0.90) by ($0.14). Research analysts expect that Celcuity, Inc. will post -2.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CELC shares. Leerink Partners upped their price objective on Celcuity from $28.00 to $60.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Stifel Nicolaus started coverage on Celcuity in a research note on Tuesday, July 1st. They issued a "buy" rating and a $30.00 price objective for the company. Needham & Company LLC dropped their price objective on Celcuity from $74.00 to $70.00 and set a "buy" rating for the company in a research note on Friday, August 15th. Finally, HC Wainwright upped their price objective on Celcuity from $50.00 to $66.00 and gave the stock a "buy" rating in a research note on Monday, August 18th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Celcuity currently has an average rating of "Buy" and a consensus price target of $56.50.

Celcuity Profile

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.