Northwestern Mutual Wealth Management Co. Sells 76,868 Shares of Cue Biopharma, Inc. $CUE

Key Points

• Northwestern Mutual Wealth Management Co. cut its Cue Biopharma stake by 96.7% in the second quarter, selling 76,868 shares and retaining 2,632 shares valued at approximately $83,000.
• Cue Biopharma received a consensus “Sell” rating after Weiss Ratings and Wall Street Zen downgraded the stock. Company insiders have also sold 72,715 shares worth about $2.04 million over the past 90 days, primarily to cover tax obligations.
• The stock was recently trading around $30 after rising 9.3%, but the company reported a substantial quarterly EPS miss: a loss of $24.14 per share versus the expected loss of $1.69, despite revenue of $7.88 million exceeding estimates.

Northwestern Mutual Wealth Management Co. trimmed its holdings in Cue Biopharma, Inc. (NASDAQ:CUE - Free Report) by 96.7% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 2,632 shares of the company's stock after selling 76,868 shares during the quarter. Northwestern Mutual Wealth Management Co. owned 0.06% of Cue Biopharma worth $83,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Squarepoint Ops LLC bought a new position in shares of Cue Biopharma during the 3rd quarter valued at $62,000. Stifel Financial Corp lifted its stake in 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 purchasing an additional 50,000 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc boosted its position 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 valued at $135,000 after buying an additional 407,568 shares during the period. Boothbay Fund Management LLC boosted its position in Cue Biopharma by 15.3% during the fourth quarter. Boothbay Fund Management LLC now owns 704,297 shares of the company's stock valued at $215,000 after buying an additional 93,333 shares during the period. Finally, Bank of America Corp DE bought a new position in shares of Cue Biopharma during the second quarter valued at about $219,000. Hedge funds and other institutional investors own 35.04% of the company's stock.

Insider Activity at Cue Biopharma

In other Cue Biopharma news, CEO Shao-Lee Lin sold 40,000 shares of the company's stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $27.10, for a total transaction of $1,084,000.00. Following the completion of the transaction, the chief executive officer owned 724,253 shares of the company's stock, valued at $19,627,256.30. This represents a 5.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 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 completion of the sale, the insider owned 118,545 shares of the company's stock, valued at approximately $3,567,019.05. This trade represents a 6.93% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 72,715 shares of company stock worth $2,041,555 in the last 90 days. Company insiders own 14.56% of the company's stock.

Analysts Set New Price Targets

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

Cue Biopharma Stock Up 9.3%

Shares of CUE opened at $30.00 on Wednesday. The stock has a market capitalization of $217.80 million, a P/E ratio of -1.11 and a beta of 2.45. Cue Biopharma, Inc. has a twelve month low of $4.97 and a twelve month high of $45.50. The firm has a fifty day simple moving average of $29.23 and a two-hundred day simple moving average of $114.02.

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 firm had revenue of $7.88 million during the quarter, compared to analysts' expectations of $3.00 million. Cue Biopharma had a negative net margin of 435.83% and a negative return on equity of 620.06%.

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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