Cue Biopharma, Inc. (NASDAQ:CUE) Short Interest Down 48.7% in October

Cue Biopharma, Inc. (NASDAQ:CUE) was the target of a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 1,950,000 shares, a drop 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.

Cue Biopharma Trading Down 5.1 %

Shares of Cue Biopharma stock traded down $0.08 during trading on Friday, reaching $1.48. 885,463 shares of the stock were exchanged, compared to its average volume of 437,215. Cue Biopharma has a 1 year low of $0.45 and a 1 year high of $3.25. The firm has a market cap of $71.99 million, a price-to-earnings ratio of -1.40 and a beta of 1.96. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.11. The stock’s fifty day moving average is $0.87 and its 200 day moving average is $1.16.

Cue Biopharma (NASDAQ:CUE) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.09. Cue Biopharma had a negative return on equity of 142.93% and a negative net margin of 566.02%. The firm had revenue of $2.66 million for the quarter, compared to analyst estimates of $1.12 million. During the same period last year, the company earned ($0.29) EPS. As a group, equities research analysts expect that Cue Biopharma will post -0.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cue Biopharma

Several institutional investors and hedge funds have recently modified their holdings of CUE. Vanguard Group Inc. grew its stake 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 purchasing an additional 150,457 shares during the period. Good Life Advisors LLC boosted its holdings in shares of Cue Biopharma by 23.1% during 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. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Cue Biopharma in the 2nd quarter worth about $66,000. 35.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on CUE. Stifel Nicolaus cut 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 report on Tuesday, August 20th. JMP Securities dropped their target price on Cue Biopharma from $15.00 to $2.00 and set a “market outperform” rating for the company in a report on Friday, July 26th. Finally, Piper Sandler decreased 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. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $5.00.

Cue Biopharma Company Profile

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.