Celcuity (NASDAQ:CELC) Shares Down 7.9% - Here's Why

Key Points

• Celcuity shares dropped 7.9% to about $65.61, with trading volume roughly 10% below its average session volume.
• Despite the decline, analysts remain broadly positive: 11 analysts rate the stock Buy and one rates it Sell, producing a “Moderate Buy” consensus and an average price target of $154.25.
• The company reported a quarterly EPS loss of $1.44, missing the $1.16 consensus estimate, while institutional investors own 63.33% of the stock.

Celcuity, Inc. (NASDAQ:CELC - Get Free Report) shares fell 7.9% during trading on Wednesday. The company traded as low as $65.85 and last traded at $65.6050. 975,784 shares were traded during trading, a decline of 10% from the average session volume of 1,080,307 shares. The stock had previously closed at $71.25.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Citizens Jmp reaffirmed a "market outperform" rating and issued a $177.00 price objective on shares of Celcuity in a report on Monday, August 17th. Stifel Nicolaus reduced their price target on shares of Celcuity from $175.00 to $150.00 and set a "buy" rating for the company in a research note on Friday, August 14th. Craig Hallum reiterated a "buy" rating and set a $178.00 price objective on shares of Celcuity in a research note on Wednesday, July 15th. JPMorgan Chase & Co. began coverage on Celcuity in a research report on Thursday, September 17th. They issued an "overweight" rating and a $157.00 target price for the company. Finally, Citigroup reaffirmed a "market outperform" rating on shares of Celcuity in a research note on Monday, August 17th. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $154.25.

Celcuity Trading Down 7.9%

The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of -15.34 and a beta of 0.10. The company has a quick ratio of 8.93, a current ratio of 8.93 and a debt-to-equity ratio of 6.04. The firm's 50 day moving average is $87.13 and its 200 day moving average is $102.27.

Celcuity (NASDAQ:CELC - Get Free Report) last posted its quarterly 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). Equities analysts forecast that Celcuity, Inc. will post -4.82 earnings per share for the current year.

Institutional Trading of Celcuity

A number of hedge funds have recently bought and sold shares of the company. Avoro Capital Advisors LLC purchased a new position in Celcuity during the 4th quarter valued at about $310,302,000. Bank of America Corp DE purchased a new position in Celcuity during the second quarter valued at approximately $153,928,000. Wellington Management Group LLP increased its stake in Celcuity by 111.4% in the 2nd quarter. Wellington Management Group LLP now owns 906,595 shares of the company's stock valued at $94,848,000 after buying an additional 477,643 shares during the period. Capitolis Liquid Global Markets LLC purchased a new stake in Celcuity in the 4th quarter worth approximately $35,428,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Celcuity during the 4th quarter valued at $22,102,000. 63.33% of the stock is owned by hedge funds and other 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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