Celcuity (NASDAQ:CELC) Shares Down 7.8% - What's Next?

Key Points

• Celcuity shares fell 7.8% to about $55.61 in mid-day trading, with volume roughly 53% below the average. The stock is trading well below its 50-day and 200-day moving averages.
• Analysts remain broadly optimistic, with 11 Buy ratings and two Sell ratings, producing a consensus “Moderate Buy” rating and an average price target of $154.25.
• Celcuity reported a quarterly loss of $1.44 per share, missing the consensus estimate of a $1.16 loss. The clinical-stage biotechnology company develops tumor-cell diagnostic tests intended to identify patients who may benefit from targeted cancer therapies.

Shares of Celcuity, Inc. (NASDAQ:CELC - Get Free Report) traded down 7.8% during mid-day trading on Friday. The company traded as low as $55.96 and last traded at $55.6110. Approximately 518,150 shares were traded during trading, a decline of 53% from the average daily volume of 1,111,661 shares. The stock had previously closed at $60.30.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Craig Hallum reiterated a "buy" rating and set a $178.00 price objective on shares of Celcuity in a report on Wednesday, July 15th. Citigroup restated a "market outperform" rating on shares of Celcuity in a research note on Monday, August 17th. Guggenheim increased their price target on Celcuity from $165.00 to $175.00 and gave the company a "buy" rating in a research report on Monday, August 17th. HC Wainwright reaffirmed a "buy" rating and issued a $155.00 price objective on shares of Celcuity in a research report on Friday, August 14th. Finally, Citizens Jmp reaffirmed a "market outperform" rating and set a $177.00 price target on shares of Celcuity in a research report on Monday, August 17th. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $154.25.

Celcuity Price Performance

The company has a debt-to-equity ratio of 6.04, a quick ratio of 8.93 and a current ratio of 8.93. The business has a 50 day simple moving average of $83.67 and a two-hundred day simple moving average of $100.10. The firm has a market capitalization of $2.70 billion, a P/E ratio of -12.90 and a beta of 0.10.

Celcuity (NASDAQ:CELC - Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported ($1.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.16) by ($0.28). On average, sell-side analysts expect that Celcuity, Inc. will post -4.82 EPS for the current fiscal year.

Institutional Trading of Celcuity

Large investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its position in Celcuity by 20.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 514 shares of the company's stock valued at $59,000 after acquiring an additional 86 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Celcuity by 15.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 944 shares of the company's stock valued at $99,000 after purchasing an additional 124 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Celcuity by 1.0% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 31,092 shares of the company's stock valued at $3,253,000 after buying an additional 297 shares during the last quarter. Parallel Advisors LLC bought a new position in Celcuity in the 1st quarter worth $38,000. Finally, KBC Group NV purchased a new position in Celcuity during the first quarter valued at approximately $64,000. 63.33% of the stock is owned by institutional investors.

Celcuity Company Profile

Celcuity, Inc is a clinical-stage biotechnology company that develops functional diagnostic tests designed to help identify patients who may benefit from targeted cancer therapies. The company's technology is intended to measure the activity of cellular signaling networks in living tumor cells, rather than relying solely on the presence or absence of individual biomarkers.

Celcuity's proprietary CELsignia platform analyzes patient tumor samples to identify abnormal signaling activity associated with cancer growth and treatment response.

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