Celcuity (NASDAQ:CELC) Trading Down 5.4% – Here’s Why

Celcuity, Inc. (NASDAQ:CELC) shares dropped 5.4% during trading on Friday . The company traded as low as $118.77 and last traded at $117.8950. Approximately 133,754 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 719,131 shares. The stock had previously closed at $124.64.

Wall Street Analyst Weigh In

CELC has been the topic of a number of recent research reports. Wall Street Zen upgraded Celcuity from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Stifel Nicolaus increased their price objective on Celcuity from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, March 26th. Needham & Company LLC reiterated a “buy” rating and issued a $122.00 price objective on shares of Celcuity in a research report on Thursday, March 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Celcuity in a research report on Wednesday, January 21st. Finally, Wolfe Research reiterated an “outperform” rating and issued a $110.00 price objective on shares of Celcuity in a research report on Thursday, March 12th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Celcuity currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.88.

Celcuity Stock Performance

The stock has a 50 day moving average price of $110.32 and a two-hundred day moving average price of $95.19. The company has a current ratio of 10.55, a quick ratio of 10.55 and a debt-to-equity ratio of 3.20. The company has a market cap of $5.66 billion, a price-to-earnings ratio of -30.91 and a beta of 0.41.

Celcuity (NASDAQ:CELC) last posted its quarterly earnings results on Wednesday, March 25th. The company reported ($0.97) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.09. Analysts predict that Celcuity, Inc. will post -2.62 EPS for the current year.

Insiders Place Their Bets

In other news, Director David Dalvey sold 20,000 shares of the stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $120.03, for a total value of $2,400,600.00. Following the transaction, the director owned 90,000 shares of the company’s stock, valued at $10,802,700. This represents a 18.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard E. Buller sold 3,000 shares of the stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $110.27, for a total value of $330,810.00. Following the completion of the transaction, the director directly owned 6,760 shares in the company, valued at approximately $745,425.20. This trade represents a 30.74% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 15.77% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. NEA Management Company LLC lifted its stake in shares of Celcuity by 64.9% in the 4th quarter. NEA Management Company LLC now owns 3,535,561 shares of the company’s stock valued at $352,637,000 after purchasing an additional 1,391,300 shares during the period. Avoro Capital Advisors LLC acquired a new stake in Celcuity during the 4th quarter worth $310,302,000. Soleus Capital Management L.P. raised its stake in Celcuity by 17.0% during the 2nd quarter. Soleus Capital Management L.P. now owns 3,011,818 shares of the company’s stock worth $40,208,000 after buying an additional 437,696 shares during the period. Vanguard Group Inc. raised its stake in Celcuity by 10.7% during the 4th quarter. Vanguard Group Inc. now owns 2,279,433 shares of the company’s stock worth $227,351,000 after buying an additional 220,386 shares during the period. Finally, State Street Corp raised its stake in Celcuity by 126.6% during the 4th quarter. State Street Corp now owns 1,637,687 shares of the company’s stock worth $163,343,000 after buying an additional 914,887 shares during the period. Institutional investors and hedge funds own 63.33% of the company’s stock.

Celcuity Company Profile

Celcuity, Inc is a clinical-stage biotechnology company specializing in precision oncology diagnostics. The company develops and commercializes predictive biomarker assays designed to identify which patients are most likely to benefit from targeted cancer therapies. By integrating functional profiling of tumor cells with molecular analyses, Celcuity seeks to optimize treatment selection and improve outcomes for patients with solid tumors.

Celcuity’s proprietary platform evaluates tumor cell sensitivity to various therapeutic agents using ex vivo assays that measure DNA damage response and other critical pathways.