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

Cue Biopharma, Inc. (NASDAQ:CUE) saw a large drop in short interest during the month of 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 volume of 674,200 shares, the short-interest ratio is currently 2.6 days.

Cue Biopharma Stock Up 3.2 %

Cue Biopharma stock traded up $0.04 during midday trading on Tuesday, hitting $1.14. 493,499 shares of the stock were exchanged, compared to its average volume of 459,489. Cue Biopharma has a 1 year low of $0.45 and a 1 year high of $3.25. The company has a 50 day moving average price of $1.15 and a two-hundred day moving average price of $1.15. 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 has a market cap of $55.21 million, a P/E ratio of -1.32 and a beta of 1.80.

Institutional Trading of Cue Biopharma

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Cue Biopharma in the 2nd quarter valued at approximately $66,000. GSA Capital Partners LLP raised its stake in Cue Biopharma by 5.1% during the third quarter. GSA Capital Partners LLP now owns 291,663 shares of the company’s stock worth $221,000 after acquiring an additional 14,104 shares during the period. Good Life Advisors LLC lifted its holdings in Cue Biopharma by 23.1% in the third quarter. Good Life Advisors LLC now owns 400,000 shares of the company’s stock worth $303,000 after acquiring an additional 75,000 shares during the last quarter. Sigma Planning Corp boosted its stake in Cue Biopharma by 50.9% in the third quarter. Sigma Planning Corp now owns 401,325 shares of the company’s stock valued at $304,000 after acquiring an additional 135,295 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Cue Biopharma by 3.3% during the third quarter. Geode Capital Management LLC now owns 508,827 shares of the company’s stock valued at $385,000 after purchasing an additional 16,371 shares during the last quarter. Institutional investors own 35.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CUE. Stifel Nicolaus reduced their price objective on 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 lowered their target price on Cue Biopharma from $8.00 to $3.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. Finally, JMP Securities cut their target price on shares of Cue Biopharma from $15.00 to $2.00 and set a “market outperform” rating for the company in a research report on Friday, July 26th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cue Biopharma has an average rating of “Buy” and a consensus target price 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.