NextCure Inc (NASDAQ:NXTC) Sees Large Decline in Short Interest

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NextCure Inc (NASDAQ:NXTC) was the target of a large drop in short interest during the month of November. As of November 29th, there was short interest totalling 506,800 shares, a drop of 19.0% from the November 14th total of 625,500 shares. Currently, 4.1% of the shares of the company are short sold. Based on an average trading volume of 477,000 shares, the days-to-cover ratio is presently 1.1 days.

In other NextCure news, major shareholder Sofinnova Venture Partners Ix, purchased 150,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were acquired at an average price of $36.75 per share, for a total transaction of $5,512,500.00. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

A number of hedge funds have recently made changes to their positions in NXTC. Victory Capital Management Inc. purchased a new stake in NextCure in the 2nd quarter worth $48,000. Tower Research Capital LLC TRC purchased a new stake in NextCure in the 2nd quarter worth $96,000. Morgan Stanley purchased a new stake in NextCure in the 2nd quarter worth $101,000. Strs Ohio lifted its stake in NextCure by 625.0% in the 3rd quarter. Strs Ohio now owns 5,800 shares of the company’s stock worth $178,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Northern Trust Corp purchased a new stake in NextCure in the 2nd quarter worth $337,000. Institutional investors and hedge funds own 49.62% of the company’s stock.

A number of research analysts recently weighed in on the stock. Piper Jaffray Companies restated a “buy” rating and set a $87.00 target price (down previously from $95.00) on shares of NextCure in a research note on Wednesday, November 20th. Morgan Stanley lifted their target price on shares of NextCure from $33.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. BTIG Research assumed coverage on shares of NextCure in a research note on Tuesday, November 26th. They set a “buy” rating and a $61.00 target price on the stock. Zacks Investment Research cut shares of NextCure from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Bank of America lifted their target price on shares of NextCure from $27.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, September 9th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $57.50.

NXTC stock traded down $0.31 during mid-day trading on Thursday, hitting $51.24. The company had a trading volume of 191,205 shares, compared to its average volume of 252,126. NextCure has a 12-month low of $13.86 and a 12-month high of $109.00. The company has a quick ratio of 15.00, a current ratio of 15.00 and a debt-to-equity ratio of 0.02. The company has a 50-day moving average price of $42.43 and a 200 day moving average price of $28.99.

NextCure (NASDAQ:NXTC) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.02). The business had revenue of $1.58 million for the quarter, compared to analyst estimates of $1.50 million. Analysts predict that NextCure will post -2.19 EPS for the current fiscal year.

NextCure Company Profile

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