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

Key Points

• The Manufacturers Life Insurance Company acquired 27,977 Celcuity shares worth approximately $2.93 million in the second quarter, while institutional investors collectively held 63.33% of the stock.
• Celcuity reported quarterly earnings of -$1.44 per share, missing the consensus estimate of -$1.16; analysts expect a full-year loss of $4.75 per share.
• Analyst sentiment remains favorable, with 10 Buy ratings and one Sell rating, producing a “Moderate Buy” consensus and an average price target of $154.55 versus the stock’s reported price of $91.98.

The Manufacturers Life Insurance Company acquired a new stake in Celcuity, Inc. (NASDAQ:CELC - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 27,977 shares of the company's stock, valued at approximately $2,927,000. The Manufacturers Life Insurance Company owned 0.06% of Celcuity as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CELC. California State Teachers Retirement System boosted its stake in shares of Celcuity by 91.2% during the 1st quarter. California State Teachers Retirement System now owns 25,580 shares of the company's stock worth $2,920,000 after acquiring an additional 12,201 shares in the last quarter. Hsbc Holdings PLC purchased a new position in Celcuity in the 4th quarter valued at approximately $1,058,000. Geode Capital Management LLC raised its holdings in Celcuity by 8.4% during the fourth quarter. Geode Capital Management LLC now owns 830,684 shares of the company's stock worth $82,872,000 after purchasing an additional 64,213 shares during the last quarter. TD Asset Management Inc raised its holdings in Celcuity by 34.0% during the fourth quarter. TD Asset Management Inc now owns 97,526 shares of the company's stock worth $9,727,000 after purchasing an additional 24,730 shares during the last quarter. Finally, E Fund Management Co. Ltd. acquired a new position in Celcuity during the second quarter worth $4,802,000. 63.33% of the stock is owned by hedge funds and other institutional investors.

Celcuity Price Performance

CELC stock opened at $91.98 on Wednesday. The stock has a market capitalization of $4.50 billion, a price-to-earnings ratio of -21.39 and a beta of 0.21. 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, Inc. has a 52-week low of $44.42 and a 52-week high of $151.02. The stock's fifty day simple moving average is $94.66 and its 200-day simple moving average is $106.96.

Celcuity (NASDAQ:CELC - Get Free Report) last released its earnings results on Thursday, August 13th. The company reported ($1.44) earnings per share for the quarter, missing the consensus estimate of ($1.16) by ($0.28). Equities research analysts expect that Celcuity, Inc. will post -4.75 EPS for the current year.

Analyst Ratings Changes

Several analysts have weighed in on the company. Citizens Jmp reissued a "market outperform" rating and issued a $177.00 target price on shares of Celcuity in a report on Monday, August 17th. Craig Hallum restated a "buy" rating and issued a $178.00 price target on shares of Celcuity in a research report on Wednesday, July 15th. Guggenheim lifted their price target on Celcuity from $165.00 to $175.00 and gave the stock a "buy" rating in a research note on Monday, August 17th. Citigroup reiterated a "market outperform" rating on shares of Celcuity in a research report on Monday, August 17th. Finally, Weiss Ratings raised shares of Celcuity from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, June 4th. Ten research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $154.55.

Celcuity 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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