Celcuity (NASDAQ:CELC) Shares Down 3.5%

Celcuity Inc. (NASDAQ:CELC)’s share price fell 3.5% on Thursday . The company traded as low as $14.91 and last traded at $14.99. 86,050 shares were traded during trading, a decline of 69% from the average session volume of 278,591 shares. The stock had previously closed at $15.54.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CELC. Needham & Company LLC restated a “buy” rating and set a $23.00 price target on shares of Celcuity in a report on Thursday, August 15th. Lifesci Capital initiated coverage on shares of Celcuity in a research note on Monday, August 26th. They set an “outperform” rating and a $27.00 price target on the stock. HC Wainwright reissued a “buy” rating and issued a $27.00 price objective on shares of Celcuity in a research note on Thursday, August 15th. Craig Hallum restated a “buy” rating and set a $27.00 target price (up from $25.00) on shares of Celcuity in a research report on Thursday, May 16th. Finally, Leerink Partnrs upgraded Celcuity to a “strong-buy” rating in a research report on Monday, July 22nd. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Celcuity presently has a consensus rating of “Buy” and an average target price of $28.67.

Celcuity Trading Down 5.7 %

The firm has a market cap of $514.23 million, a PE ratio of -5.35 and a beta of 0.76. The company’s 50 day moving average price is $16.94 and its two-hundred day moving average price is $16.97. The company has a quick ratio of 14.95, a current ratio of 14.95 and a debt-to-equity ratio of 0.54.

Celcuity (NASDAQ:CELC) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.62) EPS for the quarter, topping the consensus estimate of ($0.71) by $0.09. During the same quarter in the previous year, the company posted ($0.66) earnings per share. As a group, sell-side analysts forecast that Celcuity Inc. will post -2.54 EPS for the current year.

Hedge Funds Weigh In On Celcuity

Institutional investors have recently made changes to their positions in the company. Perceptive Advisors LLC purchased a new stake in Celcuity during the fourth quarter worth $21,583,000. Baker BROS. Advisors LP raised its position in shares of Celcuity by 189.9% in the 1st quarter. Baker BROS. Advisors LP now owns 1,552,478 shares of the company’s stock worth $33,534,000 after acquiring an additional 1,017,000 shares in the last quarter. Samlyn Capital LLC raised its position in shares of Celcuity by 92.4% in the 2nd quarter. Samlyn Capital LLC now owns 1,326,953 shares of the company’s stock worth $21,735,000 after acquiring an additional 637,190 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Celcuity during the 1st quarter worth $3,545,000. Finally, Driehaus Capital Management LLC boosted its position in Celcuity by 62.3% during the second quarter. Driehaus Capital Management LLC now owns 204,592 shares of the company’s stock valued at $3,351,000 after purchasing an additional 78,525 shares in the last quarter. Hedge funds and other institutional investors own 63.33% of the company’s stock.

About Celcuity

Celcuity Inc, a clinical stage biotechnology company, focuses on the development of targeted therapies for the treatment of various solid tumors in the United States. The company's CELsignia diagnostic platform uses a patient's living tumor cells to identify the specific abnormal cellular process driving a patient's cancer and the related targeted therapy for the treatment.