Celcuity (NASDAQ:CELC) Stock Falls 7.9% – What’s Next?

Celcuity, Inc. (NASDAQ:CELC)’s stock price was down 7.9% during mid-day trading on Wednesday. The stock traded as low as $65.85 and last traded at $65.6050. 975,784 shares traded hands during mid-day trading, a decline of 10% from the average session volume of 1,080,307 shares. The stock had previously closed at $71.25.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CELC. Weiss Ratings reiterated a “sell (d-)” rating on shares of Celcuity in a report on Tuesday, September 1st. HC Wainwright reiterated a “buy” rating and set a $155.00 price target on shares of Celcuity in a research report on Friday, August 14th. Citigroup restated a “market outperform” rating on shares of Celcuity in a report on Monday, August 17th. Wall Street Zen cut shares of Celcuity from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Finally, Guggenheim increased their target price on shares of Celcuity from $165.00 to $175.00 and gave the company a “buy” rating in a report on Monday, August 17th. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $154.25.

Celcuity Stock Down 0.1%

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 50 day simple moving average of $86.38 and a 200 day simple moving average of $101.67. The firm has a market capitalization of $3.32 billion, a PE ratio of -15.71 and a beta of 0.10.

Celcuity (NASDAQ:CELC) last released its quarterly earnings data on Thursday, August 13th. The company reported ($1.44) earnings per share for the quarter, missing analysts’ consensus estimates 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 year.

Institutional Investors Weigh In On Celcuity

Large investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its holdings in shares of Celcuity by 20.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 514 shares of the company’s stock worth $59,000 after acquiring an additional 86 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Celcuity by 15.1% in 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 lifted its stake in shares of Celcuity by 1.0% in the 2nd 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 purchasing an additional 297 shares during the period. Parallel Advisors LLC bought a new stake in shares of Celcuity during the first quarter valued at approximately $38,000. Finally, KBC Group NV bought a new stake in shares of Celcuity during the first quarter valued at approximately $64,000. Institutional investors own 63.33% of the company’s stock.

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.