Cue Biopharma (NASDAQ:CUE) Rating Lowered to "Sell" at Wall Street Zen

Key Points

• Cue Biopharma was downgraded to “Sell” from “Hold” by Wall Street Zen, while Weiss Ratings also maintained a “Sell (D-)” rating, giving the stock a consensus “Sell” rating.
• The company reported a steep quarterly loss of $24.14 per share, missing the $1.69 consensus estimate, despite revenue of $7.88 million exceeding expectations.
• Shares opened at $23.98, well below their 12-month high of $45.50. Insiders sold 72,715 shares worth approximately $2.04 million over the past three months, though the sales were attributed to tax-withholding obligations.

Cue Biopharma (NASDAQ:CUE - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Sunday.

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Cue Biopharma in a research report on Thursday, August 13th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of "Sell".

Cue Biopharma Price Performance

Shares of Cue Biopharma stock opened at $23.98 on Friday. Cue Biopharma has a 12 month low of $4.97 and a 12 month high of $45.50. The stock has a market capitalization of $174.09 million, a price-to-earnings ratio of -0.89 and a beta of 2.47. The firm's fifty day simple moving average is $29.28 and its 200-day simple moving average is $136.71.

Cue Biopharma (NASDAQ:CUE - Get Free Report) last released its quarterly earnings data on Friday, August 14th. The company reported ($24.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.69) by ($22.45). The company had revenue of $7.88 million for the quarter, compared to analyst estimates of $3.00 million. Cue Biopharma had a negative net margin of 435.83% and a negative return on equity of 620.06%.

Insider Transactions at Cue Biopharma

In other news, CEO Shao-Lee Lin sold 18,258 shares of the business's stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $28.62, for a total transaction of $522,543.96. Following the sale, the chief executive officer directly owned 705,995 shares of the company's stock, valued at $20,205,576.90. The trade was a 2.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Sumita Ray sold 8,829 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $30.09, for a total value of $265,664.61. Following the completion of the transaction, the insider owned 118,545 shares of the company's stock, valued at $3,567,019.05. This trade represents a 6.93% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 72,715 shares of company stock valued at $2,041,555 in the last three months. 14.56% of the stock is currently owned by corporate insiders.

Institutional Trading of Cue Biopharma

A number of hedge funds have recently bought and sold shares of the company. GC Wealth Management RIA LLC lifted its stake in Cue Biopharma by 35.0% in the 4th quarter. GC Wealth Management RIA LLC now owns 4,631,644 shares of the company's stock worth $1,415,000 after acquiring an additional 1,200,000 shares in the last quarter. Boothbay Fund Management LLC acquired a new stake in Cue Biopharma during the 3rd quarter worth about $439,000. Texas Capital Bank Wealth Management Services Inc grew 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 acquiring an additional 407,568 shares in the last quarter. Squarepoint Ops LLC purchased a new position in Cue Biopharma during the 3rd quarter valued at about $62,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Cue Biopharma by 730.0% in 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. 35.04% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source