Celcuity (NASDAQ:CELC) Trading Up 3.8% – Here’s Why

Shares of Celcuity Inc. (NASDAQ:CELC) shot up 3.8% on Friday . The stock traded as high as $13.62 and last traded at $13.58. 98,981 shares were traded during trading, a decline of 65% from the average session volume of 280,124 shares. The stock had previously closed at $13.08.

Analyst Upgrades and Downgrades

CELC has been the subject of a number of research analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $23.00 target price on shares of Celcuity in a research report on Friday, November 15th. HC Wainwright reissued a “buy” rating and set a $27.00 price objective on shares of Celcuity in a research report on Friday, November 15th. Finally, Stifel Nicolaus upped 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. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $29.17.

Celcuity Stock Up 4.1 %

The company has a quick ratio of 10.36, a current ratio of 10.35 and a debt-to-equity ratio of 0.65. The stock has a fifty day moving average price of $13.85 and a two-hundred day moving average price of $15.33. The company has a market cap of $505.71 million, a price-to-earnings ratio of -5.22 and a beta of 0.74.

Hedge Funds Weigh In On Celcuity

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

About Celcuity

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.