Verition Fund Management LLC Reduces Holdings in Celcuity Inc. (NASDAQ:CELC)

Verition Fund Management LLC lowered its position in shares of Celcuity Inc. (NASDAQ:CELC - Free Report) by 75.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,916 shares of the company's stock after selling 125,759 shares during the period. Verition Fund Management LLC owned approximately 0.11% of Celcuity worth $595,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Samlyn Capital LLC grew its position in Celcuity by 92.4% in the second quarter. Samlyn Capital LLC now owns 1,326,953 shares of the company's stock worth $21,735,000 after acquiring an additional 637,190 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Celcuity by 226.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 221,671 shares of the company's stock valued at $3,305,000 after purchasing an additional 153,712 shares during the last quarter. Driehaus Capital Management LLC grew its holdings in shares of Celcuity by 62.3% during the 2nd quarter. Driehaus Capital Management LLC now owns 204,592 shares of the company's stock worth $3,351,000 after purchasing an additional 78,525 shares during the period. Blue Owl Capital Holdings LP acquired a new stake in shares of Celcuity during the 2nd quarter worth about $1,065,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Celcuity during the 2nd quarter worth about $951,000. Institutional investors and hedge funds own 63.33% of the company's stock.

Wall Street Analysts Forecast Growth

CELC has been the subject of several research analyst reports. Lifesci Capital initiated coverage on shares of Celcuity in a research note on Monday, August 26th. They set an "outperform" rating and a $27.00 target price for the company. Stifel Nicolaus increased their price objective on shares of Celcuity from $39.00 to $42.00 and gave the stock a "buy" rating in a research report on Monday, October 7th. HC Wainwright reissued a "buy" rating and issued a $27.00 target price on shares of Celcuity in a research report on Friday, November 15th. Finally, Needham & Company LLC restated a "buy" rating and set a $23.00 price target on shares of Celcuity in a research report on Friday, November 15th. Six investment 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.com, the company currently has an average rating of "Buy" and a consensus price target of $29.17.

Celcuity Stock Up 0.9 %

Celcuity stock traded up $0.12 during mid-day trading on Wednesday, reaching $12.85. 159,238 shares of the company's stock were exchanged, compared to its average volume of 275,833. The company has a quick ratio of 10.36, a current ratio of 10.35 and a debt-to-equity ratio of 0.65. Celcuity Inc. has a twelve month low of $11.51 and a twelve month high of $22.19. The company has a market cap of $477.12 million, a P/E ratio of -4.92 and a beta of 0.74. The company has a fifty day moving average of $14.44 and a 200-day moving average of $15.52.

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.