NextCure, Inc. (NASDAQ:NXTC) Short Interest Update

NextCure, Inc. (NASDAQ:NXTC) saw a significant drop in short interest in July. As of July 31st, there was short interest totaling 141,248 shares, a drop of 89.3% from the July 15th total of 1,323,834 shares. Based on an average daily volume of 862,182 shares, the days-to-cover ratio is presently 0.2 days. Currently, 4.4% of the company’s stock are sold short.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of NextCure from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. HC Wainwright reiterated a “buy” rating on shares of NextCure in a research note on Thursday. Wall Street Zen cut shares of NextCure from a “hold” rating to a “sell” rating in a research report on Saturday, July 18th. Finally, Zacks Research raised shares of NextCure from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 11th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, NextCure currently has a consensus rating of “Hold” and a consensus price target of $19.00.

NextCure Price Performance

Shares of NXTC stock opened at $8.28 on Friday. NextCure has a 1-year low of $1.55 and a 1-year high of $15.74. The stock’s fifty day moving average price is $3.69 and its 200 day moving average price is $8.24. The company has a market cap of $29.89 million, a price-to-earnings ratio of -0.95 and a beta of 1.27.

NextCure (NASDAQ:NXTC) last announced its earnings results on Thursday, August 6th. The company reported ($2.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.95) by ($0.85). As a group, equities research analysts anticipate that NextCure will post -7.99 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Adar1 Capital Management, Llc bought 36,303 shares of the business’s stock in a transaction on Friday, July 31st. The shares were bought at an average price of $4.94 per share, for a total transaction of $179,336.82. Following the completion of the purchase, the insider directly owned 722,419 shares of the company’s stock, valued at approximately $3,568,749.86. This trade represents a 5.29% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought a total of 346,761 shares of company stock worth $1,710,807 over the last 90 days. 11.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On NextCure

Several hedge funds have recently modified their holdings of the stock. Marshall Wace LLP acquired a new stake in NextCure in the 4th quarter worth approximately $160,000. Millennium Management LLC acquired a new position in NextCure during the 4th quarter valued at approximately $185,000. Geode Capital Management LLC increased its stake in NextCure by 18.6% during the 4th quarter. Geode Capital Management LLC now owns 23,157 shares of the company’s stock valued at $329,000 after purchasing an additional 3,636 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of NextCure by 18.7% in the fourth quarter. Renaissance Technologies LLC now owns 33,634 shares of the company’s stock worth $477,000 after buying an additional 5,300 shares during the last quarter. Finally, Boothbay Fund Management LLC purchased a new position in shares of NextCure in the fourth quarter worth $988,000. Institutional investors and hedge funds own 42.65% of the company’s stock.

About NextCure

NextCure, Inc is a clinical?stage biopharmaceutical company focused on the discovery and development of novel immune modulators for the treatment of cancer and inflammatory diseases. Leveraging its proprietary Therapeutic Discovery Engine (TDE™), the company aims to identify, validate and optimize new targets in the immune response pathway. NextCure’s research platform integrates large?scale proteomics and functional genomics to accelerate the progression of promising therapeutic candidates from early discovery through clinical development.

The company’s pipeline includes multiple product candidates in various stages of preclinical and clinical evaluation.