Celcuity (NASDAQ:CELC) Stock Rating Lowered by Zacks Investment Research

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Zacks Investment Research lowered shares of Celcuity (NASDAQ:CELC) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday morning, Zacks.com reports.

According to Zacks, “Celcuity Inc. is a cellular analysis company. It engaged in discovering new cancer sub-types and commercializing diagnostic tests designed to significantly improve the clinical outcomes of cancer patients treated with targeted therapies. The company’s proprietary CELx diagnostic platform uses a patient’s living tumor cells to identify the specific abnormal cellular activity driving a patient’s cancer and the targeted therapy. Celcuity Inc. is based in Minneapolis, United States. “

Other analysts have also recently issued research reports about the company. ValuEngine cut Valero Energy from a hold rating to a sell rating in a report on Wednesday, May 8th. HC Wainwright set a $31.00 price target on Kura Oncology and gave the stock a buy rating in a research report on Wednesday, May 8th.

Shares of NASDAQ:CELC opened at $23.30 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 26.94 and a quick ratio of 26.94. Celcuity has a 1 year low of $18.31 and a 1 year high of $31.00. The business’s 50-day moving average price is $22.06.

Celcuity (NASDAQ:CELC) last issued its earnings results on Tuesday, May 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.04. As a group, sell-side analysts forecast that Celcuity will post -0.81 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA lifted its position in Celcuity by 13,655.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,238 shares of the company’s stock worth $27,000 after acquiring an additional 1,229 shares in the last quarter. Nelson Roberts Investment Advisors LLC acquired a new position in shares of Celcuity in the 1st quarter valued at approximately $115,000. Kessler Investment Group LLC raised its position in shares of Celcuity by 46.3% in the 1st quarter. Kessler Investment Group LLC now owns 7,017 shares of the company’s stock valued at $154,000 after purchasing an additional 2,222 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Celcuity by 9.1% in the 4th quarter. Geode Capital Management LLC now owns 35,035 shares of the company’s stock valued at $840,000 after purchasing an additional 2,930 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Celcuity by 2.0% in the 4th quarter. Northern Trust Corp now owns 61,888 shares of the company’s stock valued at $1,484,000 after purchasing an additional 1,223 shares in the last quarter. 22.05% of the stock is currently owned by hedge funds and other institutional investors.

Celcuity Company Profile

Celcuity Inc, a cellular analysis company, discovers cancer sub-types and commercializes diagnostic tests to enhance the clinical outcomes of cancer patients treated with targeted therapies in the United States. The company's CELx diagnostic platform uses a patient's living tumor cells to identify the specific abnormal cellular process driving a patient's cancer and the targeted therapy that treats it.

Further Reading: Diversification

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