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

NextCure, Inc. (NASDAQ:NXTC) was the target of a significant drop in short interest in April. As of April 15th, there was short interest totalling 113,200 shares, a drop of 88.6% from the March 31st total of 993,800 shares. Based on an average daily volume of 274,100 shares, the short-interest ratio is presently 0.4 days. Currently, 0.5% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NXTC. Assenagon Asset Management S.A. purchased a new stake in shares of NextCure during the 1st quarter worth approximately $952,000. Cable Car Capital LLC purchased a new stake in shares of NextCure during the 4th quarter worth approximately $702,000. Marquette Asset Management LLC purchased a new stake in shares of NextCure during the 4th quarter worth approximately $66,000. Finally, Acuitas Investments LLC lifted its position in shares of NextCure by 30.0% during the 4th quarter. Acuitas Investments LLC now owns 372,799 shares of the company’s stock worth $425,000 after buying an additional 85,982 shares during the last quarter. Institutional investors and hedge funds own 42.65% of the company’s stock.

NextCure Trading Down 10.4 %

NXTC stock traded down $0.15 during trading on Thursday, reaching $1.29. 156,328 shares of the stock were exchanged, compared to its average volume of 233,437. The business has a 50 day moving average price of $1.74 and a 200-day moving average price of $1.39. NextCure has a 1 year low of $0.98 and a 1 year high of $2.57. The firm has a market capitalization of $35.99 million, a price-to-earnings ratio of -0.57 and a beta of 0.40.

NextCure (NASDAQ:NXTC) last announced its quarterly earnings results on Thursday, March 21st. The company reported ($0.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.02. On average, research analysts anticipate that NextCure will post -1.65 EPS for the current year.

Analysts Set New Price Targets

NXTC has been the topic of several research reports. HC Wainwright raised their price target on shares of NextCure from $5.00 to $8.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $4.00 target price on shares of NextCure in a research note on Wednesday, March 20th.

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.