Celcuity (NASDAQ:CELC) Reaches New 1-Year High After Analyst Upgrade

Celcuity Inc. (NASDAQ:CELC) shares hit a new 52-week high during mid-day trading on Thursday after Needham & Company LLC raised their price target on the stock from $23.00 to $24.00. Needham & Company LLC currently has a buy rating on the stock. Celcuity traded as high as $20.81 and last traded at $20.81, with a volume of 156937 shares changing hands. The stock had previously closed at $18.16.

A number of other brokerages also recently weighed in on CELC. HC Wainwright reaffirmed a “buy” rating and set a $27.00 price objective on shares of Celcuity in a research note on Thursday. Stifel Nicolaus began coverage on shares of Celcuity in a research note on Thursday, February 22nd. They set a “buy” rating and a $40.00 price objective for the company.

Institutional Investors Weigh In On Celcuity

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE lifted its holdings in shares of Celcuity by 40.3% during the fourth quarter. Bank of America Corp DE now owns 3,159 shares of the company’s stock valued at $44,000 after acquiring an additional 907 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Celcuity by 7.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 27,276 shares of the company’s stock valued at $256,000 after purchasing an additional 1,989 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Celcuity by 12.0% during the 4th quarter. Royal Bank of Canada now owns 18,909 shares of the company’s stock valued at $276,000 after purchasing an additional 2,020 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Celcuity by 1.1% during the 4th quarter. Northern Trust Corp now owns 183,188 shares of the company’s stock valued at $2,669,000 after purchasing an additional 2,035 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Celcuity by 7.6% during the 2nd quarter. Renaissance Technologies LLC now owns 31,056 shares of the company’s stock valued at $341,000 after purchasing an additional 2,200 shares in the last quarter. Institutional investors and hedge funds own 63.33% of the company’s stock.

Celcuity Price Performance

The stock has a market cap of $508.93 million, a P/E ratio of -7.11 and a beta of 0.74. The company has a 50 day simple moving average of $16.20 and a 200 day simple moving average of $13.51. The company has a current ratio of 11.15, a quick ratio of 11.15 and a debt-to-equity ratio of 0.39.

Celcuity Company Profile

Celcuity Inc, a clinical stage biotechnology company, focuses on the development of molecularly targeted therapies for cancer patients 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.