Paloma Partners Management Co Buys New Holdings in Celcuity, Inc. $CELC

Key Points

• Paloma Partners Management Co has acquired 21,288 shares of Celcuity, Inc. (NASDAQ:CELC), valued at approximately $215,000, marking a new stake for the institutional investor.
• In a recent insider transaction, Director David Dalvey sold 100,000 shares of Celcuity, resulting in a 44.44% decrease in his ownership, with the total value of the sale around $4.4 million.
• Analysts have shown optimism for Celcuity's stock, with multiple price target increases, including a raise to $60 from Leerink Partners, reflecting a consensus rating of "Buy" and a target price of $56.50.

Paloma Partners Management Co bought a new position in shares of Celcuity, Inc. (NASDAQ:CELC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 21,288 shares of the company's stock, valued at approximately $215,000. Paloma Partners Management Co owned approximately 0.06% of Celcuity at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CELC. Soleus Capital Management L.P. raised its stake in Celcuity by 106.0% during 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 in the last quarter. Baker BROS. Advisors LP raised its stake in Celcuity by 42.9% during the fourth 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. Janus Henderson Group PLC acquired a new position in Celcuity during the fourth quarter worth about $8,468,000. Ameriprise Financial Inc. raised its stake in Celcuity by 45.9% during 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 in the last quarter. Finally, Nuveen LLC acquired a new position in Celcuity during the first quarter worth about $704,000. Institutional investors and hedge funds own 63.33% of the company's stock.

Celcuity Trading Up 2.2%

Celcuity stock traded up $1.22 during trading hours on Friday, reaching $55.69. 831,391 shares of the company's stock were exchanged, compared to its average volume of 916,796. The firm's 50 day simple moving average is $34.32 and its 200 day simple moving average is $18.84. Celcuity, Inc. has a twelve month low of $7.57 and a twelve month high of $57.48. The company has a quick ratio of 4.58, a current ratio of 4.58 and a debt-to-equity ratio of 2.24. The firm has a market capitalization of $2.36 billion, a PE ratio of -16.14 and a beta of 0.72.

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

Analysts Set New Price Targets

CELC has been the subject of several research analyst reports. Leerink Partners boosted their target price on Celcuity from $28.00 to $60.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. HC Wainwright upped their price objective on Celcuity from $50.00 to $66.00 and gave the company a "buy" rating in a research note on Monday, August 18th. Needham & Company LLC lowered 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, Stifel Nicolaus assumed 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. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Celcuity currently has a consensus rating of "Buy" and an average price target of $56.50.

Insider Activity

In other news, Director David Dalvey sold 100,000 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $43.98, for a total transaction of $4,398,000.00. Following the completion of the sale, the director owned 125,000 shares of the company's stock, valued at $5,497,500. This trade represents a 44.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 15.77% of the company's stock.

About Celcuity

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.