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

Cue Biopharma, Inc. (NASDAQ:CUE) saw a significant decrease in short interest in 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 trading volume of 674,200 shares, the short-interest ratio is currently 2.6 days.

Institutional Trading of Cue Biopharma

A number of institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position 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 buying an additional 16,371 shares during the period. GSA Capital Partners LLP lifted its stake 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 purchasing an additional 14,104 shares in the last quarter. Sigma Planning Corp boosted its holdings in Cue Biopharma by 50.9% in 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 period. Good Life Advisors LLC grew its position in shares of Cue Biopharma by 23.1% during the 3rd quarter. Good Life Advisors LLC now owns 400,000 shares of the company’s stock valued at $303,000 after purchasing an additional 75,000 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Cue Biopharma in the 2nd quarter worth about $66,000. Hedge funds and other institutional investors own 35.04% of the company’s stock.

Cue Biopharma Stock Performance

NASDAQ:CUE traded up $0.04 on Tuesday, reaching $1.14. 534,870 shares of the company’s stock were exchanged, compared to its average volume of 459,674. The firm has a market cap of $55.45 million, a price-to-earnings ratio of -1.32 and a beta of 1.80. The stock has a fifty day simple moving average of $1.15 and a 200-day simple moving average of $1.15. Cue Biopharma has a 52 week low of $0.45 and a 52 week high of $3.25. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.22 and a quick ratio of 2.22.

Wall Street Analysts Forecast Growth

CUE has been the topic of a number of recent analyst reports. Stifel Nicolaus lowered their target price on Cue Biopharma from $8.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. JMP Securities dropped their target price on shares of Cue Biopharma from $15.00 to $2.00 and set a “market outperform” rating on the stock in a research note on Friday, July 26th. Finally, Piper Sandler decreased their price target 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 investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target 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.