Cue Biopharma (NASDAQ:CUE) Trading 34.8% Higher – Here’s What Happened

Cue Biopharma, Inc. (NASDAQ:CUE)’s share price shot up 34.8% during trading on Friday . The stock traded as high as $0.3324 and last traded at $0.3248. 7,086,842 shares changed hands during trading, an increase of 888% from the average session volume of 716,938 shares. The stock had previously closed at $0.2410.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cue Biopharma in a research report on Monday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Cue Biopharma Price Performance

The stock has a market cap of $25.57 million, a price-to-earnings ratio of -0.71 and a beta of 1.39. The company has a 50 day simple moving average of $0.58 and a 200-day simple moving average of $0.70. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.01.

Cue Biopharma (NASDAQ:CUE) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.03. The business had revenue of $2.15 million during the quarter, compared to the consensus estimate of $2.29 million. Cue Biopharma had a negative return on equity of 271.67% and a negative net margin of 530.75%. Research analysts expect that Cue Biopharma, Inc. will post -0.76 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. increased its stake in Cue Biopharma by 730.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 83,000 shares of the company’s stock valued at $57,000 after buying an additional 73,000 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of Cue Biopharma in the 3rd quarter valued at about $62,000. Angeles Wealth Management LLC acquired a new stake in shares of Cue Biopharma in the second quarter valued at about $82,000. Boothbay Fund Management LLC bought a new stake in Cue Biopharma during the third quarter worth about $439,000. Finally, GC Wealth Management RIA LLC bought a new position in Cue Biopharma in the second quarter valued at approximately $2,273,000. Institutional investors own 35.04% of the company’s stock.

About Cue Biopharma

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.