Celcuity (NASDAQ:CELC) Releases Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Celcuity (NASDAQ:CELC) announced its quarterly earnings data on Thursday. The company reported ($0.97) EPS for the quarter, topping the consensus estimate of ($1.07) by $0.10, Zacks reports.

Here are the key takeaways from Celcuity’s conference call:

• Celcuity reported positive top-line Phase III VIKTORIA-1 results in the PIK3CA mutant cohort, with both the triplet and doublet gedatolisib regimens showing statistically significant and clinically meaningful PFS improvements versus alpelisib plus fulvestrant.
• Management said gedatolisib regimens were generally well tolerated with manageable safety profiles and no new safety signals, supporting the company’s view that the drug could be a differentiated option in advanced breast cancer.
• The company expanded VIKTORIA-2 to include a new first-line study in endocrine-sensitive HR-positive, HER2-negative advanced breast cancer, broadening the potential patient population beyond the original endocrine-resistant design.
• Celcuity said it is advancing a subcutaneous formulation of gedatolisib and has filed its first patent application, aiming to support longer-term use and potentially improve convenience versus infusion.
• Financial results showed a larger quarterly loss and higher spending, driven mainly by increased R&D, commercial buildout, and launch preparations, while the company ended the quarter with $387.1 million in cash and expects funding to last through 2027.

Celcuity Stock Up 2.2%

CELC traded up $2.96 during mid-day trading on Friday, reaching $137.68. 1,472,303 shares of the stock were exchanged, compared to its average volume of 840,519. The company has a debt-to-equity ratio of 3.20, a quick ratio of 10.55 and a current ratio of 10.55. The stock has a market capitalization of $6.66 billion, a PE ratio of -36.33 and a beta of 0.09. The company has a 50 day moving average price of $118.35 and a two-hundred day moving average price of $106.51. Celcuity has a 1 year low of $10.26 and a 1 year high of $151.02.

Insiders Place Their Bets

In other Celcuity news, Director Richard E. Buller sold 9,000 shares of Celcuity stock in a transaction on Monday, May 4th. The shares were sold at an average price of $140.46, for a total transaction of $1,264,140.00. Following the transaction, the director directly owned 6,760 shares of the company’s stock, valued at $949,509.60. The trade was a 57.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director David Dalvey sold 25,000 shares of Celcuity stock in a transaction on Monday, May 4th. The stock was sold at an average price of $140.68, for a total transaction of $3,517,000.00. Following the transaction, the director directly owned 65,000 shares in the company, valued at $9,144,200. This represents a 27.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 37,000 shares of company stock worth $5,111,950 over the last ninety days. Insiders own 13.33% of the company’s stock.

Hedge Funds Weigh In On Celcuity

Hedge funds have recently bought and sold shares of the company. Meeder Asset Management Inc. purchased a new position in Celcuity during the 4th quarter worth $42,000. US Bancorp DE boosted its holdings in Celcuity by 25.4% during the 3rd quarter. US Bancorp DE now owns 706 shares of the company’s stock worth $35,000 after acquiring an additional 143 shares during the last quarter. Kemnay Advisory Services Inc. bought a new stake in shares of Celcuity during the 4th quarter worth $101,000. Los Angeles Capital Management LLC purchased a new position in shares of Celcuity in the 4th quarter worth about $144,000. Finally, CIBC Private Wealth Group LLC purchased a new position in shares of Celcuity in the 4th quarter worth about $202,000. 63.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CELC. Wall Street Zen downgraded shares of Celcuity from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. Wells Fargo & Company lifted their price target on shares of Celcuity from $150.00 to $183.00 and gave the company an “overweight” rating in a research report on Friday. Guggenheim lifted their price target on shares of Celcuity from $135.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Celcuity in a research report on Monday, April 20th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $157.00 price target on shares of Celcuity in a research report on Friday. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $140.20.

About Celcuity

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.