NextCure, Inc. (NASDAQ:NXTC) Sees Large Growth in Short Interest

NextCure, Inc. (NASDAQ:NXTC) was the recipient of a significant increase in short interest in the month of February. As of February 13th, there was short interest totaling 61,725 shares, an increase of 29.9% from the January 29th total of 47,514 shares. Based on an average daily trading volume, of 43,865 shares, the days-to-cover ratio is currently 1.4 days. Currently, 2.0% of the company’s shares are sold short. Currently, 2.0% of the company’s shares are sold short. Based on an average daily trading volume, of 43,865 shares, the days-to-cover ratio is currently 1.4 days.

Institutional Trading of NextCure

Several institutional investors and hedge funds have recently bought and sold shares of NXTC. Geode Capital Management LLC increased its stake in shares of NextCure by 18.6% in the fourth quarter. Geode Capital Management LLC now owns 23,157 shares of the company’s stock worth $329,000 after acquiring an additional 3,636 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of NextCure by 18.7% in the 4th quarter. Renaissance Technologies LLC now owns 33,634 shares of the company’s stock valued at $477,000 after buying an additional 5,300 shares during the period. Marshall Wace LLP purchased a new stake in shares of NextCure in the fourth quarter worth about $160,000. Millennium Management LLC purchased a new position in NextCure during the fourth quarter valued at approximately $185,000. Finally, Affinity Asset Advisors LLC boosted its position in NextCure by 28.9% in the 4th quarter. Affinity Asset Advisors LLC now owns 247,294 shares of the company’s stock worth $3,509,000 after purchasing an additional 55,412 shares in the last quarter. 42.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on NXTC shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NextCure in a research report on Wednesday, January 28th. LADENBURG THALM/SH SH raised NextCure from a “neutral” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Friday, November 7th. Finally, Wall Street Zen upgraded NextCure to a “hold” rating in a report on Saturday, December 13th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, NextCure currently has an average rating of “Moderate Buy” and a consensus target price of $23.00.

NextCure Stock Down 3.8%

NASDAQ:NXTC traded down $0.47 during trading hours on Tuesday, hitting $12.05. 15,179 shares of the company were exchanged, compared to its average volume of 35,276. NextCure has a 52-week low of $2.69 and a 52-week high of $15.74. The company’s 50 day moving average price is $12.71 and its 200-day moving average price is $9.97.

NextCure Company Profile

NextCure, Inc is a clinical‐stage biopharmaceutical company focused on the discovery and development of novel immune modulators for the treatment of cancer and inflammatory diseases. Leveraging its proprietary Therapeutic Discovery Engine (TDE™), the company aims to identify, validate and optimize new targets in the immune response pathway. NextCure’s research platform integrates large‐scale proteomics and functional genomics to accelerate the progression of promising therapeutic candidates from early discovery through clinical development.

The company’s pipeline includes multiple product candidates in various stages of preclinical and clinical evaluation.