Short Interest in Cue Biopharma, Inc. (NASDAQ:CUE) Drops By 8.7%

Cue Biopharma, Inc. (NASDAQ:CUE) saw a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 1,780,000 shares, a decline of 8.7% from the October 15th total of 1,950,000 shares. Based on an average daily volume of 674,200 shares, the days-to-cover ratio is presently 2.6 days.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. JMP Securities reduced their price objective on 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. Stifel Nicolaus decreased their price target on shares of Cue Biopharma from $8.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. Finally, Piper Sandler dropped their price objective on shares of Cue Biopharma from $8.00 to $3.00 and set an “overweight” rating for the company in a research note on Friday, July 26th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $5.00.

Institutional Trading of Cue Biopharma

Institutional investors have recently bought and sold shares of the business. GSA Capital Partners LLP grew its holdings in Cue Biopharma by 5.1% during the third quarter. GSA Capital Partners LLP now owns 291,663 shares of the company’s stock valued at $221,000 after purchasing an additional 14,104 shares during the period. Geode Capital Management LLC increased its stake in Cue Biopharma by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 508,827 shares of the company’s stock valued at $385,000 after buying an additional 16,371 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Cue Biopharma in the 2nd quarter valued at approximately $66,000. Good Life Advisors LLC grew its holdings in 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 period. Finally, Sigma Planning Corp lifted its holdings in Cue Biopharma by 50.9% during the 3rd quarter. Sigma Planning Corp now owns 401,325 shares of the company’s stock valued at $304,000 after purchasing an additional 135,295 shares during the last quarter. Institutional investors and hedge funds own 35.04% of the company’s stock.

Cue Biopharma Trading Down 11.6 %

NASDAQ:CUE traded down $0.15 on Monday, hitting $1.10. 463,989 shares of the stock were exchanged, compared to its average volume of 459,330. The stock has a market capitalization of $53.51 million, a price-to-earnings ratio of -1.19 and a beta of 1.80. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.06 and a current ratio of 2.06. Cue Biopharma has a 52 week low of $0.45 and a 52 week high of $3.25. The company’s 50-day moving average price is $1.14 and its 200 day moving average price is $1.15.

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.