Traynor Capital Management Inc. Sells 4,492 Shares of Celgene Co. (NASDAQ:CELG)

Traynor Capital Management Inc. lessened its stake in Celgene Co. (NASDAQ:CELG) by 32.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,198 shares of the biopharmaceutical company’s stock after selling 4,492 shares during the period. Traynor Capital Management Inc.’s holdings in Celgene were worth $859,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CELG. Archford Capital Strategies LLC lifted its stake in shares of Celgene by 277.8% in the first quarter. Archford Capital Strategies LLC now owns 272 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 200 shares during the period. Investors Research Corp bought a new position in Celgene during the first quarter worth about $28,000. Weaver Consulting Group bought a new position in Celgene during the first quarter worth about $29,000. Alera Investment Advisors LLC lifted its stake in Celgene by 109.9% during the first quarter. Alera Investment Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 167 shares during the period. Finally, Creative Financial Designs Inc. ADV lifted its stake in Celgene by 1,968.8% during the first quarter. Creative Financial Designs Inc. ADV now owns 331 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 315 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

Shares of NASDAQ:CELG traded up $0.47 during trading on Wednesday, reaching $94.04. The stock had a trading volume of 247,665 shares, compared to its average volume of 3,928,913. Celgene Co. has a 52 week low of $58.59 and a 52 week high of $98.97. The firm has a 50-day simple moving average of $93.14. The company has a debt-to-equity ratio of 1.97, a current ratio of 3.44 and a quick ratio of 3.32. The company has a market cap of $66.33 billion, a PE ratio of 12.35, a PEG ratio of 0.44 and a beta of 1.46.

Celgene (NASDAQ:CELG) last posted its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.44 by $0.17. Celgene had a net margin of 32.24% and a return on equity of 89.93%. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.22 billion. During the same quarter in the previous year, the company posted $2.16 earnings per share. Celgene’s quarterly revenue was up 15.4% compared to the same quarter last year. Equities research analysts anticipate that Celgene Co. will post 9.96 earnings per share for the current fiscal year.

A number of brokerages have commented on CELG. ValuEngine cut shares of Celgene from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. Barclays cut shares of Celgene from an “overweight” rating to an “equal weight” rating and set a $102.00 price target for the company. in a research note on Friday, May 3rd. BidaskClub upgraded shares of Celgene from a “strong sell” rating to a “sell” rating in a research note on Saturday. Zacks Investment Research upgraded shares of Celgene from a “sell” rating to a “hold” rating and set a $94.00 price target for the company in a research note on Tuesday, July 23rd. Finally, Cowen restated a “hold” rating and set a $102.00 price target on shares of Celgene in a research note on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $94.81.

Celgene Profile

Celgene Corporation, a biopharmaceutical company, discovers, develops, and commercializes therapies for the treatment of cancer and inflammatory diseases worldwide. It offers REVLIMID, an oral immunomodulatory drug for multiple myeloma (MM), myelodysplastic syndromes (MDS), and mantle cell lymphoma; POMALYST/IMNOVID to treat multiple myeloma; OTEZLA, a small-molecule inhibitor of phosphodiesterase 4 for psoriatic arthritis and psoriasis; and ABRAXANE to treat breast, non-small cell lung, pancreatic, and gastric cancers.

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Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

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