Cue Biopharma (NASDAQ:CUE) Stock Price Down 0.7% - Here's Why

Key Points

• Cue Biopharma shares fell 0.7% in midday trading, with the stock last changing hands at $30.95 after trading as low as $29.44.
• Recent analyst action was mixed: Wall Street Zen upgraded the stock from hold to buy, while MarketBeat data still shows an overall average rating of Sell.
• The company recently reported better-than-expected quarterly results, posting a loss of $1.08 per share versus estimates for a $3.30 loss and revenue of $5.69 million versus $2.50 million expected.

Cue Biopharma, Inc. (NASDAQ:CUE - Get Free Report) shares dropped 0.7% during mid-day trading on Monday . The stock traded as low as $29.44 and last traded at $30.95. Approximately 135,939 shares were traded during mid-day trading, an increase of 9% from the average daily volume of 125,288 shares. The stock had previously closed at $31.16.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CUE shares. Wall Street Zen upgraded shares of Cue Biopharma from a "hold" rating to a "buy" rating in a research note on Saturday, June 6th. Weiss Ratings upgraded shares of Cue Biopharma from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Cue Biopharma has an average rating of "Sell".

Cue Biopharma Trading Down 0.7%

The business has a 50 day moving average price of $27.31 and a 200-day moving average price of $183.47. The firm has a market capitalization of $129.99 million, a PE ratio of -5.54 and a beta of 2.45.

Cue Biopharma (NASDAQ:CUE - Get Free Report) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($1.08) earnings per share for the quarter, beating analysts' consensus estimates of ($3.30) by $2.22. Cue Biopharma had a negative return on equity of 98.30% and a negative net margin of 59.65%.The firm had revenue of $5.69 million for the quarter, compared to the consensus estimate of $2.50 million.

Institutional Investors Weigh In On Cue Biopharma

Several institutional investors have recently made changes to their positions in the stock. GC Wealth Management RIA LLC increased its holdings in shares of 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 valued at $1,415,000 after purchasing an additional 1,200,000 shares in the last quarter. Boothbay Fund Management LLC acquired a new stake in shares of Cue Biopharma in the third quarter valued at about $439,000. Texas Capital Bank Wealth Management Services Inc boosted its holdings in Cue Biopharma by 1,231.2% during the fourth quarter. Texas Capital Bank Wealth Management Services Inc now owns 440,670 shares of the company's stock worth $135,000 after buying an additional 407,568 shares in the last quarter. Squarepoint Ops LLC acquired a new position in Cue Biopharma during the third quarter worth about $62,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in Cue Biopharma by 730.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 83,000 shares of the company's stock worth $57,000 after buying an additional 73,000 shares during the period. 35.04% of the stock is currently owned by hedge funds and other institutional investors.

About Cue Biopharma

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.

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