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

Zacks Investment Research downgraded shares of Celcuity (NASDAQ:CELC) from a strong-buy rating to a hold rating in a research report released on Tuesday, 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. “

Several other research firms have also recently issued reports on CELC. HC Wainwright set a $31.00 price target on Kura Oncology and gave the stock a buy rating in a research note on Wednesday, May 8th. ValuEngine cut Valero Energy from a hold rating to a sell rating in a research note on Wednesday, May 8th.

Shares of CELC opened at $23.30 on Tuesday. The stock’s fifty day moving average is $22.06. The company has a quick ratio of 26.94, a current ratio of 26.94 and a debt-to-equity ratio of 0.01. Celcuity has a 12 month low of $18.31 and a 12 month high of $31.00.

Celcuity (NASDAQ:CELC) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.18) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.04. On average, equities analysts forecast that Celcuity will post -0.81 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in CELC. Nelson Roberts Investment Advisors LLC purchased a new position in shares of Celcuity during the first quarter worth approximately $115,000. BNP Paribas Arbitrage SA grew its position in shares of Celcuity by 13,655.6% during the first 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 during the last quarter. Kessler Investment Group LLC grew its position in shares of Celcuity by 46.3% during the first quarter. Kessler Investment Group LLC now owns 7,017 shares of the company’s stock worth $154,000 after acquiring an additional 2,222 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Celcuity by 9.1% during the fourth quarter. Geode Capital Management LLC now owns 35,035 shares of the company’s stock worth $840,000 after acquiring an additional 2,930 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Celcuity by 2.0% during the fourth quarter. Northern Trust Corp now owns 61,888 shares of the company’s stock worth $1,484,000 after acquiring an additional 1,223 shares during the last quarter. 22.05% of the stock is owned by 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: What is an Initial Public Offering (IPO)?

Get a free copy of the Zacks research report on Celcuity (CELC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Celcuity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celcuity and related companies with MarketBeat.com's FREE daily email newsletter.