Benzinga | Apr 9, 2021 09:22AM EDT

What's Going On With CELC Stock And PRVB Stock Today?

Celcuity Inc (NASDAQ:CELC) shares are trading higher after the company announced a worldwide licensing agreement with Pfizer Inc. (NYSE:PFE) to develop and commercialize gedatolisib.

Celcuity is a cellular analysis company that is 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 the patient's living tumor cells to identify the specific abnormal cellular process driving a patient's cancer and the targeted therapy that treats it.

Provention Bio Inc (NASDAQ:PRVB) shares are trading lower after the company offered a regulatory update on its Biologics License Application for teplizumab for the delay or prevention of clinical type 1 diabetes in at-risk individuals.

RBC Capital analyst Gregory Renza also downgrades Provention Bio from Outperform to Sector Perform and lowers the price target from $25 to $10.

Provention Bio Inc is a clinical-stage biopharmaceutical company. It is engaged in sourcing, developing, and commercializing novel therapeutics and cutting-edge solutions to intercept and prevent immune-mediated disease, including oncological, autoimmune, and inflammatory diseases.