NextCure (NASDAQ:NXTC) Trading Down 3.6% – Here’s What Happened

Shares of NextCure, Inc. (NASDAQ:NXTC) fell 3.6% during mid-day trading on Wednesday . The stock traded as low as $1.34 and last traded at $1.35. 9,600 shares changed hands during trading, a decline of 92% from the average session volume of 126,214 shares. The stock had previously closed at $1.40.

Analysts Set New Price Targets

Separately, Needham & Company LLC reiterated a “buy” rating and set a $4.00 price objective on shares of NextCure in a research note on Friday, August 2nd.

NextCure Stock Up 0.4 %

The company has a 50 day moving average of $1.41 and a 200-day moving average of $1.50.

NextCure (NASDAQ:NXTC) last announced its earnings results on Thursday, August 1st. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.19). On average, analysts predict that NextCure, Inc. will post -1.79 EPS for the current fiscal year.

Institutional Investors Weigh In On NextCure

Institutional investors have recently modified their holdings of the business. Affinity Asset Advisors LLC bought a new position in shares of NextCure during the 1st quarter valued at $3,031,000. Logos Global Management LP lifted its stake 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 worth $3,975,000 after purchasing an additional 575,000 shares during the period. Vanguard Group Inc. boosted its holdings in shares of NextCure by 9.3% in the first quarter. Vanguard Group Inc. now owns 987,324 shares of the company’s stock worth $2,202,000 after buying an additional 83,700 shares during the last quarter. Renaissance Technologies LLC grew its position in NextCure by 15.4% during the second quarter. Renaissance Technologies LLC now owns 462,144 shares of the company’s stock valued at $735,000 after buying an additional 61,744 shares during the period. Finally, Armistice Capital LLC purchased a new stake in NextCure during the second quarter valued at approximately $57,000. 42.65% of the stock is owned by hedge funds and other institutional investors.

NextCure Company Profile

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.