Celcuity (NASDAQ:CELC) Shares Gap Down – Here’s Why

Celcuity, Inc. (NASDAQ:CELC) shares gapped down prior to trading on Wednesday . The stock had previously closed at $111.05, but opened at $94.81. Celcuity shares last traded at $95.9020, with a volume of 1,773,091 shares changing hands.

Celcuity News Summary

Here are the key news stories impacting Celcuity this week:

• Positive Sentiment: Citizens JMP raised its price target on Celcuity to $177 from $160 and kept an “outperform” view, signaling confidence in the company’s upside after the approval. Citizens Jmp Issues Positive Forecast for Celcuity (NASDAQ:CELC) Stock Price
• Positive Sentiment: The FDA approved REVTORPYK for advanced HR+/HER2- breast cancer, a major regulatory milestone that could open the door to Celcuity’s first commercial product and future revenue. Celcuity Gets FDA Approval for Breast Cancer Drug
• Positive Sentiment: Multiple reports highlighted the approval as a potentially transformative event for Celcuity, with some analysts suggesting the drug’s success could make the company an attractive acquisition target for larger pharmaceutical firms. With FDA approval for its breast cancer blockbuster hopeful, Celcuity could ‘belong in the hands’ of a Big Pharma
• Neutral Sentiment: Celcuity held a discussion and transcript on its FDA approval and commercial launch plans, which may provide more detail on timing and launch execution but does not by itself change the fundamental story. Celcuity Inc. (CELC) Discusses FDA Approval of REVTORPYK for Advanced HR+/HER2- Breast Cancer and Commercial Launch Plans Transcript
• Negative Sentiment: Investors were also focused on rollout risks, including a delayed launch timeline and tolerability concerns, which appear to be outweighing the approval news in the near term. Celcuity shares fall as delayed breast cancer drug launch eclipses first US FDA approval
• Negative Sentiment: Several reports noted that despite the FDA win, concerns about commercialization timing and competitive pressure are weighing on the stock. Celcuity Shares Down, FDA Approval Outweighed by Timeline Questions for Breast-Cancer Treatment

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company reduced their price objective on Celcuity from $183.00 to $166.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 3rd. Leerink Partners set a $155.00 price target on Celcuity in a report on Tuesday, June 2nd. Craig Hallum reaffirmed a “buy” rating and issued a $178.00 price objective on shares of Celcuity in a research note on Wednesday. Wall Street Zen lowered shares of Celcuity from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Finally, Macquarie Infrastructure set a $160.00 target price on shares of Celcuity in a research report on Thursday, May 28th. Eleven analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Celcuity presently has a consensus rating of “Moderate Buy” and a consensus price target of $155.18.

Celcuity Price Performance

The stock has a market cap of $4.31 billion, a P/E ratio of -22.64 and a beta of 0.16. The business has a 50-day simple moving average of $109.02 and a 200 day simple moving average of $110.95. The company has a current ratio of 12.31, a quick ratio of 12.31 and a debt-to-equity ratio of 6.04.

Celcuity (NASDAQ:CELC) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.97) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.07) by $0.10. On average, analysts forecast that Celcuity, Inc. will post -3.69 earnings per share for the current year.

Insider Buying and Selling

In other Celcuity news, Director David Dalvey sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $140.68, for a total transaction of $3,517,000.00. Following the completion of the transaction, the director owned 65,000 shares in the company, valued at approximately $9,144,200. This trade represents a 27.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard E. Buller sold 9,000 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $140.46, for a total transaction of $1,264,140.00. Following the completion of the transaction, the director owned 6,760 shares in the company, valued at $949,509.60. This trade represents a 57.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 13.33% of the company’s stock.

Hedge Funds Weigh In On Celcuity

A number of hedge funds have recently bought and sold shares of CELC. Parallel Advisors LLC bought a new stake in Celcuity during the first quarter valued at $38,000. EverSource Wealth Advisors LLC raised its position in shares of Celcuity by 1,329.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 343 shares of the company’s stock worth $34,000 after acquiring an additional 319 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of Celcuity in the 4th quarter worth about $42,000. PNC Financial Services Group Inc. lifted its stake in shares of Celcuity by 20.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 514 shares of the company’s stock valued at $59,000 after purchasing an additional 86 shares during the period. Finally, KBC Group NV acquired a new position in shares of Celcuity in the 1st quarter valued at about $64,000. Institutional investors 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.