Celcuity (NASDAQ:CELC) Stock Rating Cut to Strong Sell at Zacks Research

Celcuity (NASDAQ:CELC) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Tuesday, Zacks reports.

A number of other equities research analysts also recently commented on CELC. Wall Street Zen downgraded Celcuity from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Celcuity in a research note on Tuesday, September 1st. HC Wainwright reissued a “buy” rating and issued a $155.00 price target on shares of Celcuity in a research note on Friday, August 14th. Citigroup restated a “market outperform” rating on shares of Celcuity in a report on Monday, August 17th. Finally, Guggenheim upped their price objective on shares of Celcuity from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, August 17th. Eleven analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $154.25.

Celcuity Price Performance

NASDAQ:CELC opened at $59.90 on Tuesday. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of -13.93 and a beta of 0.10. The company has a current ratio of 8.93, a quick ratio of 8.93 and a debt-to-equity ratio of 6.04. The company’s 50-day moving average is $84.33 and its two-hundred day moving average is $100.43. Celcuity has a 12-month low of $46.51 and a 12-month high of $151.02.

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 expect that Celcuity will post -4.82 EPS for the current year.

Hedge Funds Weigh In On Celcuity

A number of large investors have recently bought and sold shares of CELC. Bank of America Corp DE purchased a new stake in shares of Celcuity during the 2nd quarter valued at $153,928,000. Wellington Management Group LLP increased its holdings in shares of Celcuity by 111.4% during the 2nd quarter. Wellington Management Group LLP now owns 906,595 shares of the company’s stock worth $94,848,000 after buying an additional 477,643 shares during the last quarter. Capitolis Liquid Global Markets LLC purchased a new position in shares of Celcuity in the 4th quarter worth $35,428,000. Jennison Associates LLC raised its position in shares of Celcuity by 0.6% in the 1st quarter. Jennison Associates LLC now owns 231,140 shares of the company’s stock worth $26,382,000 after buying an additional 1,436 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Celcuity in the 2nd quarter worth $19,683,000. Hedge funds and other institutional investors own 63.33% of the company’s stock.

About Celcuity

Celcuity, Inc is a clinical-stage biotechnology company that develops functional diagnostic tests designed to help identify patients who may benefit from targeted cancer therapies. The company’s technology is intended to measure the activity of cellular signaling networks in living tumor cells, rather than relying solely on the presence or absence of individual biomarkers.

Celcuity’s proprietary CELsignia platform analyzes patient tumor samples to identify abnormal signaling activity associated with cancer growth and treatment response.