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

Celcuity Inc. (NASDAQ:CELC) was the target of a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 2,870,000 shares, a drop of 7.1% from the November 15th total of 3,090,000 shares. Based on an average daily volume of 263,800 shares, the days-to-cover ratio is presently 10.9 days.

Analyst Ratings Changes

Several research firms have weighed in on CELC. Needham & Company LLC restated a “buy” rating and set a $23.00 price objective on shares of Celcuity in a report on Friday, November 15th. Stifel Nicolaus upped 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. HC Wainwright restated a “buy” rating and issued a $27.00 target price on shares of Celcuity in a report on Friday, November 15th. Finally, Lifesci Capital started coverage on shares of Celcuity in a research report on Monday, August 26th. They issued an “outperform” rating and a $27.00 price objective for the company. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $29.17.

Celcuity Stock Performance

CELC stock traded down $0.40 during mid-day trading on Monday, hitting $12.12. The company had a trading volume of 613,250 shares, compared to its average volume of 276,289. Celcuity has a 12 month low of $11.51 and a 12 month high of $22.19. The stock’s fifty day moving average price is $14.34 and its two-hundred day moving average price is $15.48. The firm has a market cap of $450.02 million, a PE ratio of -4.80 and a beta of 0.74. The company has a debt-to-equity ratio of 0.65, a quick ratio of 10.36 and a current ratio of 10.35.

Hedge Funds Weigh In On Celcuity

Institutional investors and hedge funds have recently bought and sold shares of the company. Samlyn Capital LLC lifted its position in shares of Celcuity by 92.4% during the 2nd quarter. Samlyn Capital LLC now owns 1,326,953 shares of the company’s stock valued at $21,735,000 after buying an additional 637,190 shares during the last quarter. Driehaus Capital Management LLC raised its stake in Celcuity by 62.3% in the 2nd quarter. Driehaus Capital Management LLC now owns 204,592 shares of the company’s stock valued at $3,351,000 after acquiring an additional 78,525 shares during the period. Blue Owl Capital Holdings LP purchased a new stake in Celcuity during the second quarter valued at about $1,065,000. BNP Paribas Financial Markets boosted its position in Celcuity by 2,083.4% during the third quarter. BNP Paribas Financial Markets now owns 45,110 shares of the company’s stock worth $673,000 after purchasing an additional 43,044 shares during the period. Finally, Braidwell LP increased its stake in shares of Celcuity by 71.2% in the third quarter. Braidwell LP now owns 884,306 shares of the company’s stock worth $13,185,000 after purchasing an additional 367,663 shares in the last quarter. 63.33% of the stock is owned by institutional investors.

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.