Zacks Investment Research Lowers Celcuity (NASDAQ:CELC) to Hold

Zacks Investment Research lowered shares of Celcuity (NASDAQ:CELC) from a strong-buy rating to a hold rating in a research report released on Wednesday morning, Zacks.com reports.

According to Zacks, “Celcuity Inc. is a cellular analysis company. It engaged in discovering new cancer sub-types and commercializing diagnostic tests designed to significantly improve the clinical outcomes of cancer patients treated with targeted therapies. The company’s proprietary CELx diagnostic platform uses a patient’s living tumor cells to identify the specific abnormal cellular activity driving a patient’s cancer and the targeted therapy. Celcuity Inc. is based in Minneapolis, United States. “

Separately, ValuEngine raised Celcuity from a hold rating to a buy rating in a research note on Wednesday, October 2nd.

Shares of CELC stock opened at $16.00 on Wednesday. Celcuity has a 52-week low of $15.43 and a 52-week high of $30.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 25.25 and a quick ratio of 25.26. The stock has a 50 day moving average price of $17.14 and a 200 day moving average price of $20.65.

Celcuity (NASDAQ:CELC) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.03. On average, equities analysts anticipate that Celcuity will post -0.7 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of the stock. River & Mercantile Asset Management LLP bought a new stake in shares of Celcuity during the 2nd quarter worth approximately $318,000. Vanguard Group Inc. lifted its stake in shares of Celcuity by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 261,586 shares of the company’s stock worth $6,540,000 after acquiring an additional 1,104 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Celcuity by 5.2% during the 2nd quarter. BlackRock Inc. now owns 311,023 shares of the company’s stock worth $7,775,000 after acquiring an additional 15,395 shares during the last quarter. Captrust Financial Advisors lifted its stake in shares of Celcuity by 300.0% during the 2nd quarter. Captrust Financial Advisors now owns 3,000 shares of the company’s stock worth $75,000 after acquiring an additional 2,250 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Celcuity by 1.5% during the 2nd quarter. Northern Trust Corp now owns 64,763 shares of the company’s stock worth $1,619,000 after acquiring an additional 958 shares during the last quarter. 22.59% of the stock is owned by hedge funds and other institutional investors.

Celcuity Company Profile

Celcuity Inc, a cellular analysis company, discovers cancer sub-types and commercializes diagnostic tests to enhance the clinical outcomes of cancer patients treated with targeted therapies in the United States. The company's CELx diagnostic platform uses a patient's living tumor cells to identify the specific abnormal cellular process driving a patient's cancer and the targeted therapy that treats it.

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