Short Interest in Cue Biopharma, Inc. (NASDAQ:CUE) Drops By 48.7%

Cue Biopharma, Inc. (NASDAQ:CUE) saw a large decrease in short interest in the month of October. As of October 15th, there was short interest totalling 1,950,000 shares, a decrease of 48.7% from the September 30th total of 3,800,000 shares. Based on an average trading volume of 677,200 shares, the short-interest ratio is currently 2.9 days.

Hedge Funds Weigh In On Cue Biopharma

A number of institutional investors have recently added to or reduced their stakes in CUE. Good Life Advisors LLC grew its stake in Cue Biopharma by 23.1% in the 3rd quarter. Good Life Advisors LLC now owns 400,000 shares of the company’s stock worth $303,000 after buying an additional 75,000 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Cue Biopharma during the 2nd quarter worth $66,000. Finally, Vanguard Group Inc. grew its position in 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 acquiring an additional 150,457 shares in the last quarter. 35.04% of the stock is currently owned by institutional investors.

Cue Biopharma Stock Performance

Shares of NASDAQ CUE traded down $0.08 during midday trading on Friday, hitting $1.48. The company’s stock had a trading volume of 885,463 shares, compared to its average volume of 437,215. The stock has a fifty day moving average price of $0.87 and a 200 day moving average price of $1.16. The firm has a market capitalization of $71.99 million, a price-to-earnings ratio of -1.40 and a beta of 1.96. Cue Biopharma has a one year low of $0.45 and a one year high of $3.25. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.11.

Cue Biopharma (NASDAQ:CUE) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.09. The company had revenue of $2.66 million during the quarter, compared to analysts’ expectations of $1.12 million. Cue Biopharma had a negative return on equity of 142.93% and a negative net margin of 566.02%. During the same period in the previous year, the business earned ($0.29) earnings per share. On average, research analysts forecast that Cue Biopharma will post -0.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CUE has been the subject of several recent analyst reports. Stifel Nicolaus reduced their price objective on Cue Biopharma from $8.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. Piper Sandler cut their target price on shares of Cue Biopharma from $8.00 to $3.00 and set an “overweight” rating on the stock in a research report on Friday, July 26th. Finally, JMP Securities dropped their price target on Cue Biopharma from $15.00 to $2.00 and set a “market outperform” rating for the company in a research note on Friday, July 26th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $5.00.

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.