Cue Biopharma, Inc. (NASDAQ:CUE) Sees Significant Drop in Short Interest

Cue Biopharma, Inc. (NASDAQ:CUE) was the recipient of a significant decline in short interest during the month of September. As of September 15th, there was short interest totaling 665,900 shares, a decline of 25.9% from the August 31st total of 898,200 shares. Based on an average daily volume of 284,600 shares, the days-to-cover ratio is currently 2.3 days. Based on an average daily volume of 284,600 shares, the days-to-cover ratio is currently 2.3 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cue Biopharma in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Cue Biopharma has a consensus rating of “Sell”.

Cue Biopharma Price Performance

Shares of CUE opened at $0.73 on Tuesday. The firm has a fifty day simple moving average of $0.77 and a two-hundred day simple moving average of $0.75. The firm has a market cap of $55.91 million, a PE ratio of -1.30 and a beta of 1.55. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.01. Cue Biopharma has a 1-year low of $0.54 and a 1-year high of $1.99.

Cue Biopharma (NASDAQ:CUE) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.04. The firm had revenue of $2.95 million for the quarter, compared to the consensus estimate of $2.00 million. Cue Biopharma had a negative return on equity of 230.13% and a negative net margin of 469.35%. On average, equities analysts anticipate that Cue Biopharma will post -0.76 EPS for the current year.

Institutional Investors Weigh In On Cue Biopharma

Several hedge funds and other institutional investors have recently made changes to their positions in the business. GC Wealth Management RIA LLC purchased a new position in shares of Cue Biopharma in the second quarter worth approximately $2,273,000. Angeles Wealth Management LLC purchased a new stake in shares of Cue Biopharma in the 2nd quarter worth $82,000. Chicago Partners Investment Group LLC bought a new position in Cue Biopharma in the 1st quarter worth $82,000. Bank of America Corp DE raised its holdings in Cue Biopharma by 35.6% in the 4th quarter. Bank of America Corp DE now owns 324,315 shares of the company’s stock worth $354,000 after purchasing an additional 85,113 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Cue Biopharma by 730.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 83,000 shares of the company’s stock valued at $57,000 after purchasing an additional 73,000 shares in the last quarter. Hedge funds and other institutional investors own 35.04% of the company’s stock.

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.