Celcuity Inc. (NASDAQ:CELC) Sees Significant Drop in Short Interest

Celcuity Inc. (NASDAQ:CELC) saw a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 3,090,000 shares, a decrease of 11.5% from the October 31st total of 3,490,000 shares. Based on an average daily trading volume, of 266,900 shares, the short-interest ratio is presently 11.6 days.

Institutional Investors Weigh In On Celcuity

Several hedge funds have recently bought and sold shares of CELC. Vanguard Group Inc. lifted its position in shares of Celcuity by 1.0% in the first quarter. Vanguard Group Inc. now owns 828,597 shares of the company’s stock valued at $17,898,000 after buying an additional 7,821 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Celcuity by 7.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 22,030 shares of the company’s stock valued at $361,000 after purchasing an additional 1,600 shares during the last quarter. Hennion & Walsh Asset Management Inc. bought a new position in Celcuity during the second quarter worth $888,000. Bank of New York Mellon Corp increased its holdings in shares of Celcuity by 42.7% in the second quarter. Bank of New York Mellon Corp now owns 66,256 shares of the company’s stock valued at $1,085,000 after purchasing an additional 19,811 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its position in shares of Celcuity by 9.9% in the second quarter. Commonwealth Equity Services LLC now owns 16,624 shares of the company’s stock valued at $272,000 after purchasing an additional 1,500 shares during the period. 63.33% of the stock is currently owned by institutional investors and hedge funds.

Celcuity Stock Performance

NASDAQ CELC traded down $0.05 on Friday, hitting $12.80. 140,762 shares of the stock were exchanged, compared to its average volume of 305,348. The business’s fifty day moving average is $14.70 and its 200 day moving average is $15.72. Celcuity has a 52 week low of $11.51 and a 52 week high of $22.19. The company has a market capitalization of $475.26 million, a PE ratio of -4.90 and a beta of 0.76. The company has a debt-to-equity ratio of 0.65, a current ratio of 10.35 and a quick ratio of 10.36.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Lifesci Capital initiated coverage on shares of Celcuity in a research note on Monday, August 26th. They set an “outperform” rating and a $27.00 price target for the company. Stifel Nicolaus increased their target price on shares of Celcuity from $39.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Needham & Company LLC reiterated a “buy” rating and issued a $23.00 price target on shares of Celcuity in a research note on Friday, November 15th. Finally, HC Wainwright restated a “buy” rating and set a $27.00 price objective on shares of Celcuity in a research note on Friday, November 15th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $29.17.

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.