Cresset Asset Management LLC Cuts Stake in Celcuity Inc. (NASDAQ:CELC)

Cresset Asset Management LLC reduced its holdings in shares of Celcuity Inc. (NASDAQ:CELC) by 50.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,510 shares of the company’s stock after selling 18,984 shares during the period. Cresset Asset Management LLC’s holdings in Celcuity were worth $242,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Summit Investment Advisors Inc. increased its position in shares of Celcuity by 49.5% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,421 shares of the company’s stock valued at $45,000 after purchasing an additional 1,132 shares during the last quarter. Aquatic Capital Management LLC purchased a new stake in shares of Celcuity in the 4th quarter valued at approximately $50,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Celcuity in the 4th quarter valued at approximately $142,000. Bleakley Financial Group LLC acquired a new position in shares of Celcuity in the 4th quarter valued at $146,000. Finally, Trexquant Investment LP acquired a new position in shares of Celcuity in the 4th quarter valued at $152,000. 63.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on CELC. HC Wainwright restated a “buy” rating and issued a $27.00 target price on shares of Celcuity in a report on Tuesday, April 1st. Needham & Company LLC restated a “buy” rating and issued a $29.00 target price on shares of Celcuity in a report on Thursday. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $30.80.

Celcuity Stock Performance

Shares of CELC opened at $10.61 on Friday. The company has a 50-day simple moving average of $10.15 and a 200-day simple moving average of $11.67. 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 company has a market capitalization of $401.47 million, a PE ratio of -4.07 and a beta of 0.56. Celcuity Inc. has a 52-week low of $7.58 and a 52-week high of $19.77.

Celcuity (NASDAQ:CELC) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.86) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.95) by $0.09. Equities research analysts predict that Celcuity Inc. will post -2.62 earnings per share for the current fiscal year.

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.