Celcuity (NASDAQ:CELC) Price Target Raised to $122.00

Celcuity (NASDAQ:CELC) had its target price boosted by Needham & Company LLC from $95.00 to $122.00 in a research report sent to investors on Tuesday morning, Marketbeat.com reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages also recently weighed in on CELC. HC Wainwright reissued a “neutral” rating and issued a $94.00 price objective (up from $77.00) on shares of Celcuity in a research note on Monday, November 17th. Wells Fargo & Company assumed coverage on Celcuity in a report on Friday, December 12th. They set an “overweight” rating and a $126.00 price target on the stock. Stifel Nicolaus lifted their price target on shares of Celcuity from $68.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Jefferies Financial Group upped their price objective on shares of Celcuity from $108.00 to $134.00 and gave the stock a “buy” rating in a report on Tuesday, December 2nd. Finally, Wolfe Research initiated coverage on shares of Celcuity in a research note on Tuesday, November 18th. They issued an “outperform” rating and a $110.00 target price on the stock. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $108.63.

Celcuity Price Performance

Shares of NASDAQ:CELC opened at $110.77 on Tuesday. Celcuity has a fifty-two week low of $7.57 and a fifty-two week high of $120.32. The business has a 50-day moving average of $108.52 and a two-hundred day moving average of $86.38. The stock has a market capitalization of $5.13 billion, a P/E ratio of -30.18 and a beta of 0.38. The company has a debt-to-equity ratio of 2.74, a current ratio of 12.26 and a quick ratio of 12.26.

Insider Activity at Celcuity

In other news, Director David Dalvey sold 20,000 shares of the stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $120.03, for a total value of $2,400,600.00. Following the completion of the sale, the director directly owned 90,000 shares of the company’s stock, valued at approximately $10,802,700. This represents a 18.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 15.77% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Celcuity

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Creative Planning bought a new stake in Celcuity in the 2nd quarter valued at $177,000. Intech Investment Management LLC increased its holdings in shares of Celcuity by 5.2% during the 2nd quarter. Intech Investment Management LLC now owns 14,855 shares of the company’s stock worth $198,000 after purchasing an additional 734 shares during the period. Rhumbline Advisers raised its position in shares of Celcuity by 1.2% during the second quarter. Rhumbline Advisers now owns 42,697 shares of the company’s stock valued at $570,000 after buying an additional 503 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Celcuity in the second quarter valued at about $169,000. Finally, Saturn V Capital Management LP grew its position in Celcuity by 8.4% during the second quarter. Saturn V Capital Management LP now owns 1,185,520 shares of the company’s stock worth $15,827,000 after buying an additional 91,843 shares in the last quarter. Institutional investors own 63.33% of the company’s stock.

About Celcuity

Celcuity, Inc is a clinical-stage biotechnology company specializing in precision oncology diagnostics. The company develops and commercializes predictive biomarker assays designed to identify which patients are most likely to benefit from targeted cancer therapies. By integrating functional profiling of tumor cells with molecular analyses, Celcuity seeks to optimize treatment selection and improve outcomes for patients with solid tumors.

Celcuity’s proprietary platform evaluates tumor cell sensitivity to various therapeutic agents using ex vivo assays that measure DNA damage response and other critical pathways.