Celcuity (NASDAQ:CELC) Shares Gap Down Following Analyst Downgrade

Shares of Celcuity, Inc. (NASDAQ:CELC) gapped down prior to trading on Wednesday after HC Wainwright lowered their price target on the stock from $185.00 to $145.00. The stock had previously closed at $91.42, but opened at $86.65. HC Wainwright currently has a buy rating on the stock. Celcuity shares last traded at $89.52, with a volume of 567,193 shares changing hands.

A number of other analysts have also recently weighed in on CELC. Macquarie Infrastructure set a $160.00 price target on Celcuity in a research report on Thursday, May 28th. Guggenheim upped their target price on Celcuity from $135.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Stifel Nicolaus set a $150.00 price objective on shares of Celcuity in a research note on Monday, May 4th. Wolfe Research reaffirmed an “outperform” rating and set a $110.00 price objective on shares of Celcuity in a report on Thursday, March 12th. Finally, Weiss Ratings downgraded shares of Celcuity from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, May 19th. Eleven analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Celcuity presently has a consensus rating of “Moderate Buy” and an average price target of $153.73.

Insider Buying and Selling at Celcuity

In other news, Director David Dalvey sold 25,000 shares of the business’s stock in a transaction dated 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 transaction, the director owned 65,000 shares in the company, valued at approximately $9,144,200. The trade was a 27.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 dated 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 transaction, the director owned 6,760 shares in the company, valued at approximately $949,509.60. The trade was a 57.11% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 37,000 shares of company stock worth $5,111,950 over the last 90 days. Company insiders own 13.33% of the company’s stock.

Key Celcuity News

Here are the key news stories impacting Celcuity this week:

• Positive Sentiment: HC Wainwright lowered its price target on Celcuity to $145 from $185 but kept a buy rating, implying meaningful upside from the current share price. HC Wainwright price target update
• Positive Sentiment: Celcuity said gedatolisib combination regimens doubled the likelihood of survival without disease progression or death versus the comparator in the PIK3CA-mutant cohort of VIKTORIA-1, supporting the drug’s clinical potential. Celcuity VIKTORIA-1 topline release
• Neutral Sentiment: The company announced a conference call to discuss the Phase 3 VIKTORIA-1 results, which could provide more detail on the data and commercial outlook. Conference call announcement
• Negative Sentiment: Reuters and other outlets reported that Celcuity’s stock plunged after the detailed trial readout was seen as disappointing relative to expectations, despite the positive headline efficacy result. Reuters trial disappointment report
• Negative Sentiment: Celcuity also announced a proposed $400 million public offering of convertible senior notes due 2032, which may raise dilution and financing concerns for shareholders. Convertible notes offering

Institutional Trading of Celcuity

Institutional investors have recently modified their holdings of the company. Avoro Capital Advisors LLC acquired a new position in shares of Celcuity in the fourth quarter valued at $310,302,000. NEA Management Company LLC increased its holdings in Celcuity by 64.9% in the 4th quarter. NEA Management Company LLC now owns 3,535,561 shares of the company’s stock valued at $352,637,000 after buying an additional 1,391,300 shares during the period. State Street Corp raised its stake in shares of Celcuity by 126.6% in the 4th quarter. State Street Corp now owns 1,637,687 shares of the company’s stock valued at $163,343,000 after buying an additional 914,887 shares in the last quarter. Apis Capital Advisors LLC bought a new position in shares of Celcuity during the 3rd quarter worth about $38,334,000. Finally, UBS Group AG boosted its position in shares of Celcuity by 910.1% during the 3rd quarter. UBS Group AG now owns 854,483 shares of the company’s stock valued at $42,211,000 after acquiring an additional 769,891 shares in the last quarter. Institutional investors and hedge funds own 63.33% of the company’s stock.

Celcuity Stock Performance

The company has a debt-to-equity ratio of 6.04, a current ratio of 12.31 and a quick ratio of 12.31. The firm has a market cap of $4.37 billion, a P/E ratio of -22.95 and a beta of 0.10. The stock’s 50 day moving average is $123.29 and its two-hundred day moving average is $111.48.

Celcuity (NASDAQ:CELC) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.97) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.07) by $0.10. As a group, equities analysts predict that Celcuity, Inc. will post -3.96 EPS for the current year.

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.