Verition Fund Management LLC Sells 125,759 Shares of Celcuity Inc. (NASDAQ:CELC)

Verition Fund Management LLC lessened its holdings in shares of Celcuity Inc. (NASDAQ:CELC) by 75.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Samlyn Capital LLC raised its holdings in shares of Celcuity by 92.4% during 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. raised 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 period. Driehaus Capital Management LLC lifted its holdings in shares of Celcuity by 62.3% in the second quarter. Driehaus Capital Management LLC now owns 204,592 shares of the company’s stock valued at $3,351,000 after purchasing an additional 78,525 shares in the last quarter. Blue Owl Capital Holdings LP bought a new stake in shares of Celcuity in the second quarter valued at about $1,065,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of Celcuity during the second quarter worth about $951,000. 63.33% of the stock is currently owned by institutional investors and hedge funds.

Celcuity Price Performance

Shares of CELC opened at $12.73 on Wednesday. The company has a market cap of $472.66 million, a price-to-earnings ratio of -4.88 and a beta of 0.74. The company has a current ratio of 10.35, a quick ratio of 10.36 and a debt-to-equity ratio of 0.65. The company’s fifty day simple moving average is $14.47 and its 200 day simple moving average is $15.54. Celcuity Inc. has a 1-year low of $11.51 and a 1-year high of $22.19.

Analyst Ratings Changes

Several research firms have commented on CELC. Stifel Nicolaus boosted their target price on Celcuity from $39.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, October 7th. HC Wainwright reiterated a “buy” rating and issued a $27.00 price objective on shares of Celcuity in a report on Friday, November 15th. Needham & Company LLC restated a “buy” rating and set a $23.00 target price on shares of Celcuity in a report on Friday, November 15th. Finally, Lifesci Capital began coverage on shares of Celcuity in a research note on Monday, August 26th. They issued an “outperform” rating and a $27.00 price target on the stock. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $29.17.

Celcuity 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.