Celcuity (NASDAQ:CELC) Stock Falls 5.9% - Should You Sell?

Key Points

• Celcuity shares fell 5.9% to about $66.24, while trading volume was 98% below its average.
• Analysts’ consensus remains “Moderate Buy,” with an average price target of $151.79, despite some firms cutting ratings or targets.
• The company reported a quarterly loss of $1.21 per share, beating analysts’ estimate of a $1.51 loss per share.

Celcuity, Inc. (NASDAQ:CELC - Get Free Report)'s share price traded down 5.9% during mid-day trading on Wednesday. The company traded as low as $66.37 and last traded at $66.2440. 25,517 shares traded hands during trading, a decline of 98% from the average daily volume of 1,146,762 shares. The stock had previously closed at $70.37.

Analysts Set New Price Targets

Several research firms recently commented on CELC. Royal Bank Of Canada cut Celcuity to a "neutral" rating in a research report on Wednesday, October 28th. HC Wainwright decreased their price target on Celcuity from $155.00 to $150.00 and set a "buy" rating for the company in a research note on Monday. Cantor Fitzgerald assumed coverage on shares of Celcuity in a research note on Thursday, October 22nd. They set an "overweight" rating and a $140.00 price objective on the stock. Needham & Company LLC reduced their price objective on shares of Celcuity from $140.00 to $134.00 and set a "buy" rating for the company in a report on Wednesday, September 30th. Finally, Wall Street Zen lowered shares of Celcuity from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 15th. Thirteen analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $151.79.

Celcuity Trading Down 1.7%

The company has a debt-to-equity ratio of 6.04, a current ratio of 14.62 and a quick ratio of 8.93. The business has a fifty day moving average of $74.30 and a 200-day moving average of $98.97. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of -14.01 and a beta of 0.16.

Celcuity (NASDAQ:CELC - Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The company reported ($1.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.51) by $0.30. On average, equities analysts anticipate that Celcuity, Inc. will post -4.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Celcuity

Several hedge funds have recently modified their holdings of the stock. Bank of America Corp DE acquired a new stake in Celcuity during the 2nd quarter valued at $153,928,000. Assenagon Asset Management S.A. grew its holdings in shares of Celcuity by 685.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,478,607 shares of the company's stock valued at $117,579,000 after acquiring an additional 1,290,466 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Celcuity by 111.4% in the second quarter. Wellington Management Group LLP now owns 906,595 shares of the company's stock worth $94,848,000 after acquiring an additional 477,643 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Celcuity by 0.6% in the first quarter. Jennison Associates LLC now owns 231,140 shares of the company's stock worth $26,382,000 after acquiring an additional 1,436 shares during the last quarter. Finally, Pictet Asset Management Holding SA increased its stake in shares of Celcuity by 10,659.7% in the third quarter. Pictet Asset Management Holding SA now owns 291,049 shares of the company's stock worth $23,144,000 after acquiring an additional 288,344 shares during the last quarter. 63.33% of the stock is owned by hedge funds and other institutional investors.

Celcuity Company Profile

Celcuity is a clinical-stage biotechnology company focused on developing targeted cancer therapies. The company uses its CELsignia platform to analyze signaling activity in tumor cells and identify patients who may be more likely to respond to treatments aimed at specific cellular pathways. Its drug-development program includes gedatolisib, a therapy designed to inhibit PI3K and mTOR signaling pathways. Celcuity is studying the drug in clinical trials for breast cancer and other solid tumors, with a focus on treatment strategies tailored to tumor biology.

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