NextCure, Inc. (NASDAQ:NXTC) Sees Significant Decrease in Short Interest

NextCure, Inc. (NASDAQ:NXTC) was the recipient of a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 44,900 shares, a decrease of 32.1% from the October 31st total of 66,100 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average daily trading volume, of 43,000 shares, the days-to-cover ratio is presently 1.0 days.

NextCure Price Performance

Shares of NASDAQ:NXTC remained flat at $1.17 during trading on Friday. 12,594 shares of the stock traded hands, compared to its average volume of 65,145. The company has a 50-day moving average of $1.34 and a 200 day moving average of $1.47. NextCure has a twelve month low of $1.03 and a twelve month high of $2.57. The stock has a market capitalization of $32.77 million, a PE ratio of -0.56 and a beta of 0.80.

Analyst Ratings Changes

Separately, HC Wainwright dropped their price objective on NextCure from $8.00 to $4.00 and set a “buy” rating on the stock in a report on Monday, November 11th.

Institutional Investors Weigh In On NextCure

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its holdings in shares of NextCure by 14.2% during the third quarter. Geode Capital Management LLC now owns 223,741 shares of the company’s stock worth $307,000 after purchasing an additional 27,812 shares during the last quarter. Logos Global Management LP boosted its position in shares of NextCure by 29.9% in the 2nd quarter. Logos Global Management LP now owns 2,500,000 shares of the company’s stock valued at $3,975,000 after purchasing an additional 575,000 shares during the period. Armistice Capital LLC acquired a new stake in shares of NextCure in the 2nd quarter valued at about $57,000. Affinity Asset Advisors LLC grew its stake in NextCure by 24.2% during the 2nd quarter. Affinity Asset Advisors LLC now owns 1,687,955 shares of the company’s stock worth $2,684,000 after buying an additional 328,918 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in NextCure by 15.4% during the second quarter. Renaissance Technologies LLC now owns 462,144 shares of the company’s stock worth $735,000 after buying an additional 61,744 shares during the period. 42.65% of the stock is currently owned by institutional investors and hedge funds.

About NextCure

NextCure, Inc, a clinical-stage biopharmaceutical company, engages in discovering and developing novel immunomedicines to treat cancer and other immune-related diseases by restoring normal immune function. The company is developing NC410, an immunomedicine designed to block immune suppression mediated by LAIR-1; NC762, a monoclonal antibody that binds specifically to B7-H4, a protein expressed on multiple tumor types; and NC525, a monoclonal antibody that binds to LAIR-1 to functionally kill AML blast cells and leukemic stem cells while preserving normal blood cells, including hematopoietic stem cells.