Angeles Wealth Management LLC Sells 303,000 Shares of Cue Biopharma, Inc. $CUE

Key Points

• Angeles Wealth Management cut its Cue Biopharma stake by 97.7%, selling 303,000 shares and retaining 7,000 shares valued at about $221,000. Institutional investors own approximately 35.04% of the company.
• Cue Biopharma reported a significant quarterly loss of $24.14 per share, far below the $1.69 consensus estimate, despite revenue of $7.88 million exceeding expectations.
• Analyst sentiment remains negative: Wall Street Zen and Weiss Ratings downgraded the stock, and Cue Biopharma has a consensus rating of “Sell.”

Angeles Wealth Management LLC trimmed its position in shares of Cue Biopharma, Inc. (NASDAQ:CUE - Free Report) by 97.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,000 shares of the company's stock after selling 303,000 shares during the period. Angeles Wealth Management LLC owned approximately 0.10% of Cue Biopharma worth $221,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its stake in Cue Biopharma by 730.0% in 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 in the last quarter. Squarepoint Ops LLC acquired a new position in Cue Biopharma during the third quarter worth about $62,000. Boothbay Fund Management LLC acquired a new position in Cue Biopharma during the third quarter worth about $439,000. Texas Capital Bank Wealth Management Services Inc lifted its holdings in shares of Cue Biopharma by 1,231.2% in the fourth quarter. Texas Capital Bank Wealth Management Services Inc now owns 440,670 shares of the company's stock worth $135,000 after acquiring an additional 407,568 shares during the last quarter. Finally, Stifel Financial Corp lifted its holdings in shares of Cue Biopharma by 25.4% in the fourth quarter. Stifel Financial Corp now owns 246,556 shares of the company's stock worth $75,000 after acquiring an additional 50,000 shares during the last quarter. 35.04% of the stock is owned by institutional investors.

Cue Biopharma Stock Performance

Shares of NASDAQ CUE opened at $30.00 on Wednesday. The company's 50 day moving average price is $29.23 and its 200-day moving average price is $114.02. Cue Biopharma, Inc. has a 52-week low of $4.97 and a 52-week high of $45.50. The company has a market capitalization of $217.80 million, a P/E ratio of -1.11 and a beta of 2.45.

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

Insiders Place Their Bets

In related news, CEO Shao-Lee Lin sold 18,258 shares of the company's stock in a transaction dated 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 owned 705,995 shares in the company, valued at $20,205,576.90. This represents a 2.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 firm's stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $30.09, for a total value of $265,664.61. Following the sale, the insider directly owned 118,545 shares of the company's stock, valued at $3,567,019.05. This 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. In the last ninety days, insiders sold 72,715 shares of company stock worth $2,041,555. Company insiders own 14.56% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CUE shares. Wall Street Zen lowered shares of Cue Biopharma from a "hold" rating to a "sell" rating in a report on Sunday, August 23rd. Weiss Ratings downgraded shares of Cue Biopharma from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday, August 27th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of "Sell".

Cue Biopharma 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.

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