Cue Biopharma, Inc. (NASDAQ:CUE) Sees Large Decrease in Short Interest

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

Cue Biopharma Trading Up 3.6 %

Shares of CUE traded up $0.04 during trading hours on Tuesday, hitting $1.14. The company had a trading volume of 534,870 shares, compared to its average volume of 459,674. Cue Biopharma has a 52-week low of $0.45 and a 52-week high of $3.25. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.05. The stock’s 50 day moving average price is $1.15 and its 200 day moving average price is $1.15. The firm has a market cap of $55.45 million, a P/E ratio of -1.32 and a beta of 1.80.

Institutional Trading of Cue Biopharma

Several hedge funds and other institutional investors have recently bought and sold shares of CUE. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Cue Biopharma in the second quarter worth approximately $66,000. GSA Capital Partners LLP grew its holdings in Cue Biopharma by 5.1% in the 3rd 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 last quarter. Good Life Advisors LLC grew its holdings in Cue Biopharma by 23.1% in the 3rd 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 increased its position in shares of 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 raised its stake 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 acquiring an additional 16,371 shares during the last quarter. Institutional investors own 35.04% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CUE. Stifel Nicolaus cut their target price 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 cut their price objective 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 dropped their target price on Cue Biopharma from $8.00 to $3.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently 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.