Cue Biopharma (NASDAQ:CUE) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Key Points

• Cue Biopharma reported a quarterly earnings per share of ($0.09), exceeding estimates by $0.04.
• The company’s revenue for the quarter was $2.95 million, surpassing analyst projections of $2.00 million.
• Hedge fund Northwestern Mutual Wealth Management Co. increased its stake in Cue Biopharma by 730%, now owning 83,000 shares.

Cue Biopharma (NASDAQ:CUE - Get Free Report) released its quarterly earnings data on Tuesday. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.04, Zacks reports. The business had revenue of $2.95 million for the quarter, compared to analyst estimates of $2.00 million. Cue Biopharma had a negative return on equity of 228.43% and a negative net margin of 507.87%.

Cue Biopharma Stock Up 2.6%

Shares of NASDAQ CUE traded up $0.02 during midday trading on Wednesday, hitting $0.81. The stock had a trading volume of 87,730 shares, compared to its average volume of 263,764. The company has a fifty day moving average price of $0.74 and a 200 day moving average price of $0.88. The company has a market capitalization of $61.06 million, a price-to-earnings ratio of -1.21 and a beta of 1.53. Cue Biopharma has a 1-year low of $0.45 and a 1-year high of $1.99.

Hedge Funds Weigh In On Cue Biopharma

An institutional investor recently raised its position in Cue Biopharma stock. Northwestern Mutual Wealth Management Co. increased its stake in shares of Cue Biopharma, Inc. (NASDAQ:CUE - Free Report) by 730.0% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 83,000 shares of the company's stock after acquiring an additional 73,000 shares during the period. Northwestern Mutual Wealth Management Co. owned approximately 0.11% of Cue Biopharma worth $57,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 35.04% of the company's stock.

Cue Biopharma Company Profile

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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