Short Interest in Cue Biopharma, Inc. (NASDAQ:CUE) Drops By 96.2%

Cue Biopharma, Inc. (NASDAQ:CUE) was the recipient of a significant drop in short interest in April. As of April 30th, there was short interest totaling 288,887 shares, a drop of 96.2% from the April 15th total of 7,541,901 shares. Based on an average trading volume of 533,660 shares, the days-to-cover ratio is currently 0.5 days. Approximately 9.1% of the company’s stock are short sold.

Institutional Investors Weigh In On Cue Biopharma

Several institutional investors have recently modified their holdings of CUE. GC Wealth Management RIA LLC boosted its position in shares of Cue Biopharma by 35.0% during the fourth quarter. GC Wealth Management RIA LLC now owns 4,631,644 shares of the company’s stock valued at $1,415,000 after buying an additional 1,200,000 shares during the last quarter. Boothbay Fund Management LLC purchased a new position in Cue Biopharma in the third quarter worth about $439,000. Texas Capital Bank Wealth Management Services Inc boosted its position in 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 purchasing an additional 407,568 shares during the last quarter. Squarepoint Ops LLC purchased a new position in Cue Biopharma in the third quarter worth about $62,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position 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 worth $57,000 after purchasing an additional 73,000 shares during the last quarter. 35.04% of the stock is owned by hedge funds and other institutional investors.

Cue Biopharma Price Performance

Shares of Cue Biopharma stock traded down $3.68 during trading on Monday, hitting $31.32. 224,741 shares of the company’s stock traded hands, compared to its average volume of 1,573,810. Cue Biopharma has a 1 year low of $4.97 and a 1 year high of $41.42. The stock has a market capitalization of $101.48 million, a P/E ratio of -3.26 and a beta of 2.37. The business has a 50-day simple moving average of $245.26 and a 200-day simple moving average of $350.73.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CUE. Wall Street Zen upgraded Cue Biopharma from a “buy” rating to a “strong-buy” rating in a report on Monday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cue Biopharma in a research report on Friday, March 27th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Cue Biopharma Company 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.