Hennion & Walsh Asset Management Inc. Cuts Stake in Celcuity, Inc. $CELC

Key Points

• Hennion & Walsh Asset Management cut its Celcuity stake by 45% in the second quarter, selling 82,233 shares and retaining 100,368 shares valued at approximately $10.5 million. Institutional investors collectively own 63.33% of the company.
• Analysts maintain a generally positive outlook, with 10 Buy ratings and one Sell rating producing a consensus “Moderate Buy” rating and an average price target of $155.18.
• Celcuity shares opened at $92.79, well below their 52-week high of $151.02. The clinical-stage biotechnology company reported a quarterly loss of $0.97 per share, beating expectations for a $1.07 loss.

Hennion & Walsh Asset Management Inc. cut its stake in shares of Celcuity, Inc. (NASDAQ:CELC - Free Report) by 45.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 100,368 shares of the company's stock after selling 82,233 shares during the quarter. Hennion & Walsh Asset Management Inc. owned about 0.21% of Celcuity worth $10,500,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Parallel Advisors LLC bought a new position in Celcuity in the 1st quarter worth about $38,000. EverSource Wealth Advisors LLC increased its stake in Celcuity by 1,329.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 343 shares of the company's stock valued at $34,000 after purchasing an additional 319 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Celcuity in the fourth quarter worth about $42,000. PNC Financial Services Group Inc. lifted its stake in shares of 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 buying an additional 86 shares in the last quarter. Finally, KBC Group NV bought a new position in shares of Celcuity in the first quarter worth approximately $64,000. Hedge funds and other institutional investors own 63.33% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CELC shares. Citizens Jmp increased their price target on shares of Celcuity from $160.00 to $177.00 and gave the company a "market outperform" rating in a report on Wednesday, July 15th. Stifel Nicolaus set a $150.00 price objective on Celcuity in a research report on Monday, May 4th. Weiss Ratings upgraded Celcuity from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, June 4th. Wells Fargo & Company reduced their target price on Celcuity from $183.00 to $166.00 and set an "overweight" rating for the company in a report on Wednesday, June 3rd. Finally, HC Wainwright lifted their target price on Celcuity from $145.00 to $155.00 and gave the stock a "buy" rating in a report on Wednesday, July 15th. Ten investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $155.18.

Celcuity Stock Performance

Shares of NASDAQ CELC opened at $92.79 on Friday. The firm's 50-day moving average price is $94.57 and its 200-day moving average price is $109.08. 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 company has a market cap of $4.53 billion, a PE ratio of -23.79 and a beta of 0.20. Celcuity, Inc. has a 52-week low of $44.16 and a 52-week high of $151.02.

Celcuity (NASDAQ:CELC - Get Free Report) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.97) EPS for the quarter, topping analysts' consensus estimates of ($1.07) by $0.10. As a group, analysts anticipate that Celcuity, Inc. will post -3.76 EPS for the current 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.

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