Celcuity (NASDAQ:CELC) Stock Price Up 8.5% - Here's What Happened

Key Points

• Celcuity shares rose 8.5% to about $62 during Tuesday trading, although volume was roughly 80% below the stock’s average daily volume.
• Analyst sentiment remains broadly positive: 11 analysts rate the stock a Buy and two rate it a Sell, resulting in a “Moderate Buy” consensus and an average price target of $154.25.
• Celcuity recently missed quarterly earnings expectations, reporting a loss of $1.44 per share versus the anticipated $1.16 loss. Institutional investors own 63.33% of the company, while its CELsignia platform is being developed to support personalized cancer-treatment decisions.

Celcuity, Inc. (NASDAQ:CELC - Get Free Report) rose 8.5% during trading on Tuesday. The company traded as high as $61.40 and last traded at $62.0020. 224,137 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 1,133,990 shares. The stock had previously closed at $57.12.

Wall Street Analysts Forecast Growth

CELC has been the topic of a number of research analyst reports. Citigroup restated a "market outperform" rating on shares of Celcuity in a report on Monday. Needham & Company LLC dropped their price objective on shares of Celcuity from $140.00 to $134.00 and set a "buy" rating for the company in a research note on Wednesday, September 30th. Citizens Jmp reaffirmed a "market outperform" rating and issued a $177.00 price objective on shares of Celcuity in a research note on Monday, August 17th. HC Wainwright reiterated a "buy" rating and set a $155.00 price target on shares of Celcuity in a report on Friday, August 14th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Celcuity in a research note on Thursday, September 17th. They issued an "overweight" rating and a $157.00 price objective for the company. Eleven analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $154.25.

Celcuity Stock Performance

The company's fifty day simple moving average is $82.27 and its 200 day simple moving average is $99.34. The company has a current ratio of 8.93, a quick ratio of 8.93 and a debt-to-equity ratio of 6.04. The stock has a market capitalization of $2.97 billion, a P/E ratio of -14.08 and a beta of 0.10.

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

Hedge Funds Weigh In On Celcuity

Several large investors have recently modified their holdings of the stock. Hsbc Holdings PLC purchased a new position in Celcuity in the 4th quarter worth approximately $1,058,000. California State Teachers Retirement System lifted its stake in shares of Celcuity by 91.2% in the 1st quarter. California State Teachers Retirement System now owns 25,580 shares of the company's stock worth $2,920,000 after purchasing an additional 12,201 shares during the period. Bank of America Corp DE bought a new stake in shares of Celcuity during the 2nd quarter valued at $153,928,000. E Fund Management Co. Ltd. purchased a new stake in Celcuity in the second quarter worth about $4,802,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Celcuity in the second quarter worth approximately $2,927,000. Hedge funds and other institutional investors own 63.33% of the company's stock.

Celcuity Company Profile

Celcuity, Inc is a clinical-stage biotechnology company developing functional diagnostic tests designed to help identify cancer treatments that may be most effective for individual patients. Its technology analyzes living tumor cells taken from patients to measure how signaling pathways respond to different therapies, with the goal of supporting more personalized treatment decisions.

The company's CELsignia platform is designed to assess the activity of cancer-related signaling pathways in patient-derived cells.

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