Celcuity Inc. (NASDAQ:CELC) Short Interest Down 7.5% in March

Celcuity Inc. (NASDAQ:CELC) was the target of a large decline in short interest in March. As of March 31st, there was short interest totalling 1,860,000 shares, a decline of 7.5% from the March 15th total of 2,010,000 shares. Based on an average daily volume of 230,800 shares, the days-to-cover ratio is currently 8.1 days.

Celcuity Price Performance

Shares of Celcuity stock traded down $0.86 during trading on Tuesday, hitting $17.23. 67,930 shares of the stock traded hands, compared to its average volume of 216,946. The firm’s fifty day moving average is $17.47 and its 200-day moving average is $14.46. The company has a quick ratio of 13.43, a current ratio of 13.43 and a debt-to-equity ratio of 0.26. Celcuity has a 52 week low of $8.39 and a 52 week high of $22.19. The stock has a market cap of $524.65 million, a price-to-earnings ratio of -6.41 and a beta of 0.78.

Institutional Investors Weigh In On Celcuity

Institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC bought a new stake in shares of Celcuity in the 2nd quarter worth $37,000. Bank of America Corp DE grew its holdings in Celcuity by 40.3% during the fourth quarter. Bank of America Corp DE now owns 3,159 shares of the company’s stock valued at $44,000 after purchasing an additional 907 shares during the period. BNP Paribas Arbitrage SNC lifted its position in shares of Celcuity by 9,962.2% in the second quarter. BNP Paribas Arbitrage SNC now owns 4,528 shares of the company’s stock valued at $50,000 after acquiring an additional 4,483 shares in the last quarter. California State Teachers Retirement System purchased a new position in shares of Celcuity in the second quarter valued at about $63,000. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Celcuity in the fourth quarter worth about $70,000. Hedge funds and other institutional investors own 63.33% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Stifel Nicolaus initiated coverage on shares of Celcuity in a research note on Thursday, February 22nd. They issued a “buy” rating and a $40.00 target price for the company. Needham & Company LLC restated a “buy” rating and set a $24.00 price target on shares of Celcuity in a research report on Friday. Craig Hallum upped their price objective on shares of Celcuity from $20.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $27.00 price objective on shares of Celcuity in a report on Thursday, March 28th.

Celcuity Company Profile

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.