Cue Biopharma (NASDAQ:CUE) Earns Buy Rating from Analysts at B. Riley Financial

B. Riley Financial assumed coverage on shares of Cue Biopharma (NASDAQ:CUE) in a report issued on Friday, Marketbeat Ratings reports. The firm issued a buy rating and a $83.00 target price on the stock.

Several other analysts have also recently issued reports on the stock. Wall Street Zen cut shares of Cue Biopharma from a “hold” rating to a “sell” rating in a research note on Sunday, August 23rd. B Riley assumed coverage on shares of Cue Biopharma in a research note on Friday. They issued a “buy” rating on the stock. Finally, Weiss Ratings cut Cue Biopharma from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, August 27th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $83.00.

Cue Biopharma Stock Performance

NASDAQ CUE opened at $37.05 on Friday. The business has a fifty day moving average price of $29.22 and a 200 day moving average price of $101.43. The company has a market cap of $269.13 million, a P/E ratio of -1.37 and a beta of 2.45. Cue Biopharma has a one year low of $4.97 and a one year high of $45.50.

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 the consensus estimate of ($1.69) by ($22.45). The business had revenue of $7.88 million for the quarter, compared to analyst estimates of $3.00 million. Cue Biopharma had a negative return on equity of 620.06% and a negative net margin of 435.83%.

Insider Activity

In related news, insider Sumita Ray sold 8,829 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $30.09, for a total transaction of $265,664.61. Following the completion of 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Michael Vincent Meluzio sold 5,628 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $30.09, for a total transaction of $169,346.52. Following the sale, the vice president owned 48,961 shares of the company’s stock, valued at approximately $1,473,236.49. The trade was a 10.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 72,715 shares of company stock valued at $2,041,555. 14.56% of the stock is currently owned by insiders.

Institutional Trading of Cue Biopharma

Several hedge funds have recently made changes to their positions in CUE. Northwestern Mutual Wealth Management Co. purchased a new position in Cue Biopharma in the second quarter worth approximately $83,000. Bank of America Corp DE acquired a new stake in Cue Biopharma during the second quarter worth $219,000. Seven Fleet Capital Management LP acquired a new stake in Cue Biopharma during the second quarter worth $338,000. Persistent Asset Partners Ltd purchased a new stake in Cue Biopharma in the second quarter valued at $389,000. Finally, Texas Capital Bank Wealth Management Services Inc purchased a new stake in Cue Biopharma in the second quarter valued at $722,000. Hedge funds and other institutional investors own 35.04% of the company’s stock.

About Cue Biopharma

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.