Cue Biopharma, Inc. (NASDAQ:CUE) Short Interest Update

Cue Biopharma, Inc. (NASDAQ:CUE - Get Free Report) 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 daily volume of 677,200 shares, the days-to-cover ratio is presently 2.9 days.

Cue Biopharma Trading Down 5.1 %

Shares of NASDAQ:CUE traded down $0.08 during mid-day trading on Friday, reaching $1.48. 885,463 shares of the company were exchanged, compared to its average volume of 437,215. 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 debt-to-equity ratio of 0.11, a current ratio of 2.06 and a quick ratio of 2.06. Cue Biopharma has a 1 year low of $0.45 and a 1 year high of $3.25. The firm's 50-day simple moving average is $0.87 and its 200 day simple moving average is $1.15.

Cue Biopharma (NASDAQ:CUE - Get Free Report) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.09. The company had revenue of $2.66 million for the quarter, compared to the consensus estimate of $1.12 million. Cue Biopharma had a negative return on equity of 142.93% and a negative net margin of 566.02%. During the same quarter in the prior year, the business earned ($0.29) EPS. Equities research analysts forecast that Cue Biopharma will post -0.85 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Cue Biopharma in the 2nd quarter valued at $66,000. Good Life Advisors LLC raised its stake in shares of Cue Biopharma by 23.1% during the third quarter. Good Life Advisors LLC now owns 400,000 shares of the company's stock worth $303,000 after purchasing an additional 75,000 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Cue Biopharma by 7.1% in the 1st quarter. Vanguard Group Inc. now owns 2,283,362 shares of the company's stock worth $4,316,000 after acquiring an additional 150,457 shares during the period. Hedge funds and other institutional investors own 35.04% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Piper Sandler decreased their target price on shares of Cue Biopharma from $8.00 to $3.00 and set an "overweight" rating for the company in a research report on Friday, July 26th. JMP Securities dropped their target price on Cue Biopharma from $15.00 to $2.00 and set a "market outperform" rating on the stock in a report on Friday, July 26th. Finally, Stifel Nicolaus decreased their price target on Cue Biopharma from $8.00 to $4.00 and set a "buy" rating for the company in a report on Tuesday, August 20th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus 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.