Cue Biopharma, Inc. (NASDAQ:CUE) Sees Significant Growth in Short Interest

Cue Biopharma, Inc. (NASDAQ:CUE) was the recipient of a large growth in short interest in July. As of July 31st, there was short interest totalling 4,030,000 shares, a growth of 8.3% from the July 15th total of 3,720,000 shares. Based on an average trading volume of 454,500 shares, the days-to-cover ratio is currently 8.9 days.

Analyst Upgrades and Downgrades

CUE has been the subject of a number of recent research reports. JMP Securities lowered their price target on shares of Cue Biopharma from $15.00 to $2.00 and set a “market outperform” rating for the company in a report on Friday, July 26th. Piper Sandler lowered their price target on shares of Cue Biopharma from $8.00 to $3.00 and set an “overweight” rating for the company in a report on Friday, July 26th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $5.80.

Institutional Trading of Cue Biopharma

A number of hedge funds and other institutional investors have recently made changes to their positions in CUE. Vanguard Group Inc. increased its stake in shares of Cue Biopharma by 7.1% in the first quarter. Vanguard Group Inc. now owns 2,283,362 shares of the company’s stock worth $4,316,000 after buying an additional 150,457 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Cue Biopharma during the second quarter valued at $66,000. Wedmont Private Capital boosted its holdings in shares of Cue Biopharma by 100.0% during the first quarter. Wedmont Private Capital now owns 40,000 shares of the company’s stock valued at $76,000 after acquiring an additional 20,000 shares during the period. Finally, Legacy Capital Group California Inc. acquired a new position in shares of Cue Biopharma during the fourth quarter valued at $26,000. Institutional investors own 35.04% of the company’s stock.

Cue Biopharma Stock Up 11.9 %

Shares of CUE traded up $0.08 during mid-day trading on Monday, reaching $0.76. 306,256 shares of the stock traded hands, compared to its average volume of 350,045. The firm has a market cap of $36.97 million, a price-to-earnings ratio of -0.72 and a beta of 1.96. The stock has a fifty day simple moving average of $0.98 and a 200 day simple moving average of $1.57. Cue Biopharma has a 12-month low of $0.58 and a 12-month high of $3.25. The company has a quick ratio of 2.47, a current ratio of 2.47 and a debt-to-equity ratio of 0.11.

Cue Biopharma (NASDAQ:CUE) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.09. The company had revenue of $2.66 million for the quarter, compared to analyst estimates of $1.12 million. Cue Biopharma had a negative net margin of 711.84% and a negative return on equity of 128.30%. During the same quarter last year, the firm posted ($0.29) earnings per share. Sell-side analysts expect that Cue Biopharma will post -0.93 EPS for the current fiscal year.

About Cue Biopharma

Cue Biopharma, Inc, a clinical-stage biopharmaceutical company, develops a novel class of injectable therapeutics to selectively engage and modulate targeted, disease relevant T cells directly within the patient's body. Its lead drug product candidate is CUE-101 for the treatment of human papilloma virus (HPV16+)-driven recurrent/metastatic head and neck cancer.