Short Interest in Celcuity Inc. (NASDAQ:CELC) Declines By 11.5%

Celcuity Inc. (NASDAQ:CELC) saw a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 3,090,000 shares, a decrease of 11.5% from the October 31st total of 3,490,000 shares. Based on an average daily volume of 266,900 shares, the short-interest ratio is currently 11.6 days.

Celcuity Stock Performance

Shares of NASDAQ:CELC traded down $0.09 on Tuesday, reaching $12.54. The company’s stock had a trading volume of 142,587 shares, compared to its average volume of 311,516. Celcuity has a 52-week low of $11.51 and a 52-week high of $22.19. The stock has a market capitalization of $465.61 million, a P/E ratio of -4.80 and a beta of 0.74. The stock’s 50-day moving average is $14.64 and its two-hundred day moving average is $15.66. The company has a debt-to-equity ratio of 0.65, a current ratio of 10.35 and a quick ratio of 10.36.

Institutional Trading of Celcuity

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. nVerses Capital LLC purchased a new stake in shares of Celcuity in the third quarter valued at about $33,000. Prospera Private Wealth LLC purchased a new stake in Celcuity in the 3rd quarter valued at approximately $35,000. Values First Advisors Inc. acquired a new position in Celcuity during the 3rd quarter worth approximately $86,000. Quest Partners LLC increased its position in Celcuity by 31.3% during the 2nd quarter. Quest Partners LLC now owns 5,788 shares of the company’s stock worth $95,000 after purchasing an additional 1,379 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of Celcuity during the 3rd quarter worth approximately $119,000. 63.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CELC. Lifesci Capital started coverage on shares of Celcuity in a research report on Monday, August 26th. They set an “outperform” rating and a $27.00 price objective for the company. Stifel Nicolaus upped their price objective on shares of Celcuity from $39.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Needham & Company LLC reiterated a “buy” rating and set a $23.00 target price on shares of Celcuity in a research report on Friday, November 15th. Finally, HC Wainwright reissued a “buy” rating and issued a $27.00 target price on shares of Celcuity in a research report on Friday, November 15th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Celcuity currently has a consensus rating of “Buy” and an average target price of $29.17.

Celcuity Company Profile

Celcuity Inc, a clinical stage biotechnology company, focuses on the development of targeted therapies for the treatment of various solid tumors in the United States. The company's CELsignia diagnostic platform uses a patient's living tumor cells to identify the specific abnormal cellular process driving a patient's cancer and the related targeted therapy for the treatment.