NextCure (NASDAQ:NXTC) Trading Down 3.1% – What’s Next?

NextCure, Inc. (NASDAQ:NXTC) dropped 3.1% during mid-day trading on Friday . The company traded as low as $6.02 and last traded at $6.20. Approximately 11,495 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 40,293 shares. The stock had previously closed at $6.40.

Analyst Upgrades and Downgrades

NXTC has been the topic of a number of recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of NextCure in a report on Monday, April 27th. Zacks Research downgraded shares of NextCure from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 6th. Three research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $23.00.

NextCure Stock Down 3.1%

The company has a market capitalization of $22.38 million, a price-to-earnings ratio of -0.36 and a beta of 1.43. The stock’s fifty day moving average price is $10.04 and its 200-day moving average price is $11.47.

NextCure (NASDAQ:NXTC) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($1.87) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.10) by $0.23. Analysts anticipate that NextCure, Inc. will post -7.91 EPS for the current year.

Hedge Funds Weigh In On NextCure

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC grew its stake in shares of NextCure by 80.0% in the first quarter. Renaissance Technologies LLC now owns 60,534 shares of the company’s stock valued at $647,000 after buying an additional 26,900 shares in the last quarter. Ikarian Capital LLC bought a new position in shares of NextCure in the fourth quarter valued at $3,382,000. Squadron Capital Management LLC bought a new position in shares of NextCure in the fourth quarter valued at $3,363,000. Millennium Management LLC bought a new position in shares of NextCure in the fourth quarter valued at $185,000. Finally, Boothbay Fund Management LLC bought a new position in shares of NextCure in the fourth quarter valued at $988,000. 42.65% of the stock is owned by institutional investors.

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.