Celcuity, Inc.’s (CELC) Quiet Period To Expire Tomorrow
Celcuity’s (NASDAQ:CELC) quiet period will expire on Monday, October 30th. Celcuity had issued 2,400,000 shares in its public offering on September 20th. The total size of the offering was $22,800,000 based on an initial share price of $9.50. During the company’s quiet period, underwriters and any insiders involved in the IPO are restricted from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
Separately, Craig Hallum began coverage on shares of Celcuity in a research note on Monday, October 16th. They set a “buy” rating on the stock.
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Shares of Celcuity (NASDAQ CELC) opened at 16.34 on Friday. The company’s market capitalization is $158.86 million. Celcuity has a 52 week low of $11.10 and a 52 week high of $16.97. The firm’s 50-day moving average is $14.27 and its 200 day moving average is $14.27.
Celcuity, Inc is a cellular analysis company. The Company is focused on discovering new cancer sub-types and commercializing diagnostic tests designed to significantly improve the clinical outcomes of cancer patients treated with targeted therapies. The Company’s proprietary CELx diagnostic platform uses a patient’s living tumor cells to identify the specific abnormal cellular process driving a patient’s cancer and the targeted therapy that best treats it.
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