Celcuity (NASDAQ:CELC) Shares Up 3.8% - Here's What Happened

Celcuity Inc. (NASDAQ:CELC - Get Free Report)'s stock price shot up 3.8% during mid-day trading on Friday . The company traded as high as $13.62 and last traded at $13.58. 98,981 shares changed hands during trading, a decline of 65% from the average session volume of 280,124 shares. The stock had previously closed at $13.08.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CELC shares. Needham & Company LLC reissued a "buy" rating and issued a $23.00 target price on shares of Celcuity in a research note on Friday, November 15th. HC Wainwright reaffirmed a "buy" rating and issued a $27.00 price target on shares of Celcuity in a research note on Friday, November 15th. Finally, Stifel Nicolaus increased their price objective on Celcuity from $39.00 to $42.00 and gave the company a "buy" rating in a research note on Monday, October 7th. Six equities 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, Celcuity currently has an average rating of "Buy" and an average target price of $29.17.

Celcuity Trading Up 5.8 %

The firm has a market cap of $513.88 million, a PE ratio of -5.30 and a beta of 0.74. The firm has a fifty day simple moving average of $13.85 and a two-hundred day simple moving average of $15.33. The company has a current ratio of 10.35, a quick ratio of 10.36 and a debt-to-equity ratio of 0.65.

Institutional Trading of Celcuity

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CELC. Quest Partners LLC raised its position in shares of Celcuity by 31.3% in the 2nd quarter. Quest Partners LLC now owns 5,788 shares of the company's stock worth $95,000 after acquiring an additional 1,379 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in Celcuity by 9.9% in the second quarter. Commonwealth Equity Services LLC now owns 16,624 shares of the company's stock worth $272,000 after purchasing an additional 1,500 shares in the last quarter. Acuta Capital Partners LLC lifted its position in Celcuity by 3.6% during the third quarter. Acuta Capital Partners LLC now owns 46,600 shares of the company's stock valued at $695,000 after buying an additional 1,600 shares during the period. nVerses Capital LLC bought a new stake in shares of Celcuity during the third quarter valued at approximately $33,000. Finally, Prospera Private Wealth LLC purchased a new position in Celcuity in the 3rd quarter worth approximately $35,000. Hedge funds and other institutional investors own 63.33% of the company's stock.

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.