The Manufacturers Life Insurance Company Has $2.93 Million Position in Celcuity, Inc. $CELC

Key Points

• The Manufacturers Life Insurance Company cut its Celcuity stake by 58.7% in the second quarter, selling 39,686 shares and retaining 27,977 shares worth approximately $2.93 million. Institutional investors collectively own 63.33% of the company.
• Celcuity shares opened at $83.45, well below their 12-month high of $151.02. The company reported quarterly EPS of -$1.44, missing the consensus estimate of -$1.16.
• Analysts maintain a generally positive outlook, with 10 Buy ratings and one Sell rating. Celcuity has a “Moderate Buy” consensus rating and an average price target of $154.55.

The Manufacturers Life Insurance Company trimmed its position in Celcuity, Inc. (NASDAQ:CELC - Free Report) by 58.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,977 shares of the company's stock after selling 39,686 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.06% of Celcuity worth $2,927,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Creative Planning acquired a new position in Celcuity during the second quarter valued at approximately $177,000. Rhumbline Advisers raised its holdings in Celcuity by 1.2% in the second quarter. Rhumbline Advisers now owns 42,697 shares of the company's stock worth $570,000 after purchasing an additional 503 shares during the period. XTX Topco Ltd acquired a new stake in Celcuity in the second quarter worth $169,000. Quantinno Capital Management LP boosted its position in shares of Celcuity by 20.7% during the second quarter. Quantinno Capital Management LP now owns 243,042 shares of the company's stock worth $3,245,000 after purchasing an additional 41,756 shares in the last quarter. Finally, Paloma Partners Management Co boosted its position in shares of Celcuity by 285.8% during the second quarter. Paloma Partners Management Co now owns 82,137 shares of the company's stock worth $1,097,000 after purchasing an additional 60,849 shares in the last quarter. Institutional investors own 63.33% of the company's stock.

Celcuity Stock Performance

Shares of NASDAQ:CELC opened at $83.45 on Monday. The firm has a market cap of $4.08 billion, a price-to-earnings ratio of -19.41 and a beta of 0.19. Celcuity, Inc. has a 12 month low of $44.42 and a 12 month high of $151.02. The company's fifty day simple moving average is $92.98 and its 200 day simple moving average is $106.20. The company has a quick ratio of 8.93, a current ratio of 8.93 and a debt-to-equity ratio of 6.04.

Celcuity (NASDAQ:CELC - Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported ($1.44) earnings per share for the quarter, missing analysts' consensus estimates of ($1.16) by ($0.28). As a group, research analysts forecast that Celcuity, Inc. will post -4.75 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Wells Fargo & Company lowered their price objective on shares of Celcuity from $183.00 to $166.00 and set an "overweight" rating for the company in a research report on Wednesday, June 3rd. Stifel Nicolaus reduced their target price on Celcuity from $175.00 to $150.00 and set a "buy" rating on the stock in a report on Friday, August 14th. Leerink Partners set a $155.00 target price on Celcuity in a research note on Tuesday, June 2nd. Guggenheim increased their price target on Celcuity from $165.00 to $175.00 and gave the stock a "buy" rating in a report on Monday, August 17th. Finally, Craig Hallum reaffirmed a "buy" rating and set a $178.00 price target on shares of Celcuity in a research report on Wednesday, July 15th. Ten research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Celcuity currently has an average rating of "Moderate Buy" and a consensus price target of $154.55.

About Celcuity

Celcuity, Inc is a biotechnology company focused on advancing personalized medicine through functional diagnostics. Its technology is designed to analyze living tumor cells obtained from patient tissue and identify abnormal signaling activity that may influence how a cancer responds to specific therapies.

The company's primary platform, CELsignia, uses proprietary assays to measure the activity of cellular signaling pathways in a patient's tumor cells. Celcuity develops these tests for use in oncology drug development, patient selection, and potentially as companion diagnostics to help identify patients who are most likely to benefit from targeted treatments.

Celcuity works with biopharmaceutical companies and research organizations to evaluate drug-response biomarkers and support precision oncology programs.

Want to see what other hedge funds are holding CELC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Celcuity, Inc. (NASDAQ:CELC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.