Short Interest in Cue Biopharma, Inc. (NASDAQ:CUE) Drops By 96.2%

Cue Biopharma, Inc. (NASDAQ:CUE) was the recipient of a large decline in short interest in April. As of April 30th, there was short interest totaling 288,887 shares, a decline of 96.2% from the April 15th total of 7,541,901 shares. Based on an average daily trading volume, of 533,660 shares, the short-interest ratio is currently 0.5 days. Approximately 9.1% of the shares of the company are sold short.

Institutional Trading of Cue Biopharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. raised its stake in Cue Biopharma by 730.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 83,000 shares of the company’s stock valued at $57,000 after purchasing an additional 73,000 shares during the period. Squarepoint Ops LLC bought a new stake in Cue Biopharma during the 3rd quarter valued at approximately $62,000. Stifel Financial Corp raised its stake in Cue Biopharma by 25.4% during the 4th quarter. Stifel Financial Corp now owns 246,556 shares of the company’s stock valued at $75,000 after purchasing an additional 50,000 shares during the period. Texas Capital Bank Wealth Management Services Inc raised its stake in Cue Biopharma by 1,231.2% during the 4th quarter. Texas Capital Bank Wealth Management Services Inc now owns 440,670 shares of the company’s stock valued at $135,000 after purchasing an additional 407,568 shares during the period. Finally, Boothbay Fund Management LLC bought a new stake in Cue Biopharma during the 3rd quarter valued at approximately $439,000. Institutional investors own 35.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CUE. Wall Street Zen raised Cue Biopharma from a “buy” rating to a “strong-buy” rating in a research report on Monday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cue Biopharma in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Cue Biopharma presently has a consensus rating of “Sell”.

Cue Biopharma Price Performance

Shares of CUE stock traded down $3.68 during trading hours on Monday, reaching $31.32. 224,741 shares of the company traded hands, compared to its average volume of 1,573,810. The firm has a 50-day moving average price of $245.26 and a 200 day moving average price of $350.73. The company has a market cap of $101.48 million, a P/E ratio of -3.26 and a beta of 2.37. Cue Biopharma has a 12-month low of $4.97 and a 12-month high of $41.42.

Cue Biopharma Company Profile

Cue Biopharma is a clinical‐stage biotechnology company focused on the development of next‐generation immunotherapies for cancer and infectious diseases. The company’s proprietary platform, known as Cytokine Release & Targeting (CRT), is designed to deliver cytokine payloads directly to antigen‐specific T cells in order to enhance immune responses within targeted tissues. This approach aims to improve the therapeutic index of cytokine treatments by limiting systemic exposure and potentiating localized immune activation.

Founded in 2015 and headquartered in Cambridge, Massachusetts, Cue Biopharma has advanced multiple lead programs into early‐stage clinical studies.