Celcuity (NASDAQ:CELC) Shares Gap Up – Still a Buy?

Celcuity, Inc. (NASDAQ:CELC)’s share price gapped up prior to trading on Wednesday. The stock had previously closed at $77.38, but opened at $81.30. Celcuity shares last traded at $79.5330, with a volume of 974,203 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Wells Fargo & Company dropped their price target on Celcuity from $183.00 to $166.00 and set an “overweight” rating for the company in a research note on Wednesday, June 3rd. Wall Street Zen cut Celcuity from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Needham & Company LLC dropped their target price on Celcuity from $157.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, August 14th. HC Wainwright reissued a “buy” rating and set a $155.00 price target on shares of Celcuity in a research note on Friday, August 14th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Celcuity in a research note on Tuesday, September 1st. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Celcuity currently has an average rating of “Moderate Buy” and an average target price of $154.75.

Celcuity Trading Up 2.5%

The company has a market cap of $3.88 billion, a price-to-earnings ratio of -18.44 and a beta of 0.19. The business’s fifty day moving average price is $88.21 and its 200 day moving average price is $103.65. The company has a debt-to-equity ratio of 6.04, a current ratio of 8.93 and a quick ratio of 8.93.

Celcuity (NASDAQ:CELC) last posted 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). Research analysts anticipate that Celcuity, Inc. will post -4.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Celcuity

Hedge funds have recently made changes to their positions in the stock. Envestnet Asset Management Inc. boosted its holdings in Celcuity by 358.3% in the second quarter. Envestnet Asset Management Inc. now owns 15,958 shares of the company’s stock valued at $1,670,000 after acquiring an additional 12,476 shares during the last quarter. Engineers Gate Manager LP bought a new position in Celcuity during the 2nd quarter worth approximately $480,000. IFP Advisors Inc bought a new position in Celcuity during the 2nd quarter worth approximately $73,000. Nykredit A S acquired a new position in shares of Celcuity in the 2nd quarter worth approximately $119,000. Finally, Corient Private Wealth LP acquired a new position in shares of Celcuity in the 2nd quarter worth approximately $1,258,000. 63.33% of the stock is currently owned by institutional investors.

About Celcuity

Celcuity, Inc is a biotechnology company focused on advancing personalized medicine through functional diagnostics. Its technology is designed to analyze living tumor cells obtained from patient tissue and identify abnormal signaling activity that may influence how a cancer responds to specific therapies.

The company’s primary platform, CELsignia, uses proprietary assays to measure the activity of cellular signaling pathways in a patient’s tumor cells. Celcuity develops these tests for use in oncology drug development, patient selection, and potentially as companion diagnostics to help identify patients who are most likely to benefit from targeted treatments.

Celcuity works with biopharmaceutical companies and research organizations to evaluate drug-response biomarkers and support precision oncology programs.