Cue Biopharma, Inc. (NASDAQ:CUE – Get Rating) was the target of a significant drop in short interest in November. As of November 15th, there was short interest totalling 872,100 shares, a drop of 29.7% from the October 31st total of 1,240,000 shares. Based on an average daily volume of 161,300 shares, the short-interest ratio is presently 5.4 days.
Institutional Investors Weigh In On Cue Biopharma
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CUE. Engineers Gate Manager LP increased its stake in shares of Cue Biopharma by 17.7% during the 1st quarter. Engineers Gate Manager LP now owns 25,589 shares of the company's stock worth $125,000 after purchasing an additional 3,849 shares during the last quarter. Newbridge Financial Services Group Inc. increased its stake in shares of Cue Biopharma by 41.7% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 17,000 shares of the company's stock worth $38,000 after purchasing an additional 5,000 shares during the last quarter. Amalgamated Bank acquired a new position in shares of Cue Biopharma during the 1st quarter worth about $25,000. Swiss National Bank increased its stake in shares of Cue Biopharma by 8.2% during the 1st quarter. Swiss National Bank now owns 67,600 shares of the company's stock worth $330,000 after purchasing an additional 5,100 shares during the last quarter. Finally, Ensign Peak Advisors Inc increased its stake in shares of Cue Biopharma by 72.7% during the 2nd quarter. Ensign Peak Advisors Inc now owns 17,960 shares of the company's stock worth $45,000 after purchasing an additional 7,560 shares during the last quarter. 39.95% of the stock is currently owned by institutional investors and hedge funds.
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Cue Biopharma Stock Performance
CUE stock traded up $0.05 during midday trading on Thursday, reaching $3.91. The company's stock had a trading volume of 183,678 shares, compared to its average volume of 350,873. Cue Biopharma has a 52 week low of $2.18 and a 52 week high of $12.79. The company has a debt-to-equity ratio of 0.18, a current ratio of 6.04 and a quick ratio of 6.04. The business's 50-day simple moving average is $3.00 and its 200-day simple moving average is $3.05.
Cue Biopharma (NASDAQ:CUE – Get Rating) last announced its quarterly earnings data on Monday, November 14th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.38) by $0.07. The firm had revenue of $0.07 million for the quarter, compared to analysts' expectations of $0.65 million. Cue Biopharma had a negative net
margin of 500.66% and a negative return on equity of 77.78%. Analysts predict that Cue Biopharma will post -1.43 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on CUE shares. Oppenheimer lowered their price target on shares of Cue Biopharma from $26.00 to $10.00 and set an "outperform" rating for the company in a report on Wednesday, August 24th. Piper Sandler assumed coverage on shares of Cue Biopharma in a research note on Sunday, November 20th. They issued an "overweight" rating and a $7.00 price objective on the stock. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Cue Biopharma currently has an average rating of "Buy" and an average price target of $15.60.
About Cue Biopharma
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Cue Biopharma, Inc, a clinical-stage biopharmaceutical company, develops biologic drugs for the selective modulation of the human immune system to treat a range of cancers, chronic infectious diseases, and autoimmune disorders. Its lead drug candidate is CUE-101, a fusion protein biologic that is in Phase 1b clinical trial designed to target and activate antigen-specific T cells for human papilloma virus-driven cancers.
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