Cue Biopharma (NASDAQ:CUE) Downgraded by Wall Street Zen to “Strong Sell”

Wall Street Zen lowered shares of Cue Biopharma (NASDAQ:CUE) from a sell rating to a strong sell rating in a research report released on Saturday morning,Wall Street Zen reports.

Several other brokerages have also recently weighed in on CUE. Zacks Research upgraded shares of Cue Biopharma to a “hold” rating in a research note on Monday, September 21st. Weiss Ratings lowered shares of Cue Biopharma from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, August 27th. Finally, B. Riley Financial started coverage on shares of Cue Biopharma in a research report on Friday, September 18th. They set a “buy” rating and a $83.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Cue Biopharma has an average rating of “Hold” and an average target price of $83.00.

Cue Biopharma Price Performance

CUE stock opened at $31.41 on Friday. Cue Biopharma has a fifty-two week low of $4.97 and a fifty-two week high of $45.50. The stock has a market capitalization of $228.16 million, a price-to-earnings ratio of -1.16 and a beta of 2.45. The business’s fifty day moving average price is $29.33 and its two-hundred day moving average price is $94.34.

Cue Biopharma (NASDAQ:CUE) last announced its earnings results 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). Cue Biopharma had a negative net margin of 435.83% and a negative return on equity of 620.06%. The business had revenue of $7.88 million during the quarter, compared to the consensus estimate of $3.00 million. Research analysts expect that Cue Biopharma will post -32.12 EPS for the current year.

Insider Activity

In other news, CEO Shao-Lee Lin sold 18,258 shares of the stock in a transaction on 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 directly owned 705,995 shares of the company’s stock, valued at approximately $20,205,576.90. This represents a 2.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 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 in the company, valued at approximately $3,567,019.05. This trade represents a 6.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 72,715 shares of company stock worth $2,041,555. 14.56% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cue Biopharma

Hedge funds and other institutional investors have recently made changes to their positions in the company. Texas Capital Bank Wealth Management Services Inc lifted its holdings in shares of Cue Biopharma by 1,231.2% during the 4th 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 period. BlackRock Inc. bought a new position in Cue Biopharma in the second quarter valued at approximately $1,824,000. ADAR1 Capital Management LLC acquired a new position in Cue Biopharma during the second quarter valued at approximately $1,742,000. Citadel Advisors LLC raised its position in Cue Biopharma by 301.8% during the second quarter. Citadel Advisors LLC now owns 25,633 shares of the company’s stock valued at $809,000 after purchasing an additional 38,333 shares in the last quarter. Finally, Persistent Asset Partners Ltd bought a new stake in Cue Biopharma during the second quarter worth $389,000. 35.04% of the stock is currently owned by institutional investors and hedge funds.

Cue Biopharma Company Profile

Cue Biopharma, Inc is a clinical-stage biotechnology company developing therapeutics that selectively activate and regulate antigen-specific T cells inside the body. Its approach is designed to direct the immune system toward cancer cells while potentially reducing the broad immune activation and toxicity associated with conventional immunotherapies.

The company’s proprietary Immuno-STAT (Selective Targeting of Antigens for Remodeling of T cells) platform uses biologic molecules that combine peptide-major histocompatibility complex components with immune-modulating signals.