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

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

Celcuity Stock Performance

Shares of CELC traded down $0.09 during mid-day trading on Tuesday, reaching $12.54. 142,597 shares of the company’s stock traded hands, compared to its average volume of 311,516. The company has a debt-to-equity ratio of 0.65, a quick ratio of 10.36 and a current ratio of 10.35. The business’s 50-day moving average price is $14.68 and its 200-day moving average price is $15.69. Celcuity has a 12 month low of $11.51 and a 12 month high of $22.19.

Institutional Investors Weigh In On Celcuity

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. nVerses Capital LLC bought a new position in Celcuity during the third quarter valued at about $33,000. Prospera Private Wealth LLC acquired a new position in shares of Celcuity in the 3rd quarter worth approximately $35,000. Values First Advisors Inc. bought a new stake in shares of Celcuity in the 3rd quarter worth approximately $86,000. Quest Partners LLC lifted its stake in Celcuity by 31.3% during the second quarter. Quest Partners LLC now owns 5,788 shares of the company’s stock valued at $95,000 after purchasing an additional 1,379 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in Celcuity during the third quarter worth approximately $119,000. 63.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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