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

Key Points

• Cue Biopharma reported a 25.9% decrease in short interest for September, with 665,900 shares shorted compared to 898,200 shares in August.
• Several institutional investors have increased their stakes in Cue Biopharma, including Bank of America and Jane Street Group, collectively owning 35.04% of the stock.
• The company's latest earnings show a revenue of $2.95 million, exceeding estimates, and an EPS of ($0.09), outperforming the expected ($0.13).

Cue Biopharma, Inc. (NASDAQ:CUE - Get Free Report) was the recipient of a large decrease in short interest in the month of September. As of September 15th, there was short interest totaling 665,900 shares, a decrease of 25.9% from the August 31st total of 898,200 shares. Based on an average trading volume of 284,600 shares, the short-interest ratio is currently 2.3 days. Based on an average trading volume of 284,600 shares, the short-interest ratio is currently 2.3 days.

Hedge Funds Weigh In On Cue Biopharma

Several institutional investors and hedge funds have recently modified their holdings of the stock. GC Wealth Management RIA LLC purchased a new position in shares of Cue Biopharma in the 2nd quarter worth about $2,273,000. Bank of America Corp DE increased its stake in Cue Biopharma by 35.6% during the 4th quarter. Bank of America Corp DE now owns 324,315 shares of the company's stock valued at $354,000 after purchasing an additional 85,113 shares in the last quarter. Jane Street Group LLC raised its holdings in Cue Biopharma by 145.9% in the fourth quarter. Jane Street Group LLC now owns 63,767 shares of the company's stock worth $70,000 after buying an additional 37,832 shares during the last quarter. Chicago Partners Investment Group LLC bought a new position in shares of Cue Biopharma in the first quarter worth approximately $82,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Cue Biopharma by 730.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 83,000 shares of the company's stock valued at $57,000 after buying an additional 73,000 shares during the last quarter. 35.04% of the stock is currently owned by institutional investors.

Cue Biopharma Price Performance

Shares of NASDAQ CUE opened at $0.73 on Tuesday. The company has a 50 day simple moving average of $0.77 and a two-hundred day simple moving average of $0.75. Cue Biopharma has a fifty-two week low of $0.54 and a fifty-two week high of $1.99. The company has a market capitalization of $55.91 million, a price-to-earnings ratio of -1.30 and a beta of 1.55. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.60 and a current ratio of 1.60.

Cue Biopharma (NASDAQ:CUE - Get Free Report) last posted its quarterly earnings results on Tuesday, August 12th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.04. The company had revenue of $2.95 million for the quarter, compared to the consensus estimate of $2.00 million. Cue Biopharma had a negative return on equity of 230.13% and a negative net margin of 469.35%. Analysts expect that Cue Biopharma will post -0.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "sell (e+)" rating on shares of Cue Biopharma in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of "Sell".

About Cue Biopharma

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.

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