Cue Biopharma, Inc. (NASDAQ:CUE) Short Interest Down 8.7% in October

Cue Biopharma, Inc. (NASDAQ:CUE) saw a large drop in short interest in October. As of October 31st, there was short interest totalling 1,780,000 shares, a drop of 8.7% from the October 15th total of 1,950,000 shares. Based on an average daily trading volume, of 674,200 shares, the days-to-cover ratio is currently 2.6 days.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Stifel Nicolaus decreased their price target on shares of Cue Biopharma from $8.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, August 20th. Piper Sandler cut their price target on Cue Biopharma from $8.00 to $3.00 and set an “overweight” rating on the stock in a research note on Friday, July 26th. Finally, JMP Securities lowered their price objective on shares of 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 analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $5.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CUE. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Cue Biopharma during the second quarter worth approximately $66,000. GSA Capital Partners LLP lifted its position in shares of Cue Biopharma by 5.1% during the 3rd quarter. GSA Capital Partners LLP now owns 291,663 shares of the company’s stock worth $221,000 after buying an additional 14,104 shares during the last quarter. Good Life Advisors LLC boosted its holdings in shares of Cue Biopharma by 23.1% in the 3rd quarter. Good Life Advisors LLC now owns 400,000 shares of the company’s stock valued at $303,000 after buying an additional 75,000 shares in the last quarter. Sigma Planning Corp grew its position in shares of Cue Biopharma by 50.9% in the 3rd quarter. Sigma Planning Corp now owns 401,325 shares of the company’s stock valued at $304,000 after buying an additional 135,295 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Cue Biopharma by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 508,827 shares of the company’s stock worth $385,000 after acquiring an additional 16,371 shares in the last quarter. Hedge funds and other institutional investors own 35.04% of the company’s stock.

Cue Biopharma Trading Up 3.2 %

Shares of CUE stock traded up $0.04 during trading on Tuesday, hitting $1.14. 493,499 shares of the stock traded hands, compared to its average volume of 459,489. The firm has a market capitalization of $55.21 million, a P/E ratio of -1.32 and a beta of 1.80. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.22 and a quick ratio of 2.22. The firm’s fifty day moving average price is $1.15 and its 200-day moving average price is $1.15. Cue Biopharma has a 52-week low of $0.45 and a 52-week high of $3.25.

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.