Wall Street Zen Downgrades Cue Biopharma (NASDAQ:CUE) to Strong Sell

Cue Biopharma (NASDAQ:CUE) was downgraded by analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Other equities research analysts have also issued reports about the stock. Weiss Ratings lowered shares of Cue Biopharma from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, August 27th. Zacks Research upgraded Cue Biopharma to a “hold” rating in a research note on Monday, September 21st. Finally, B. Riley Financial assumed coverage on Cue Biopharma in a report on Friday, September 18th. They issued a “buy” rating and a $83.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Cue Biopharma presently has an average rating of “Hold” and an average target price of $83.00.

Cue Biopharma Price Performance

Shares of CUE stock opened at $31.41 on Friday. The company has a 50 day moving average price of $29.33 and a 200-day moving average price of $93.09. Cue Biopharma has a 52 week low of $4.97 and a 52 week high of $45.50. The firm has a market capitalization of $228.04 million, a PE ratio of -1.16 and a beta of 2.45.

Cue Biopharma (NASDAQ:CUE) last issued its quarterly earnings data on Friday, August 14th. The company reported ($24.14) earnings per share 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 company had revenue of $7.88 million for the quarter, compared to the consensus estimate of $3.00 million. Analysts anticipate that Cue Biopharma will post -32.12 earnings per share for the current year.

Insider Transactions at Cue Biopharma

In other Cue Biopharma news, VP Michael Vincent Meluzio sold 5,628 shares of the business’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 completion of 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 business’s stock in a transaction dated Thursday, August 13th. The shares were 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 of the company’s stock, valued at $3,567,019.05. This represents a 6.93% decrease in their position. 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. Insiders sold 72,715 shares of company stock worth $2,041,555 in the last three months. Corporate insiders own 14.56% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Citadel Advisors LLC increased its stake in Cue Biopharma by 301.8% in the 2nd quarter. Citadel Advisors LLC now owns 25,633 shares of the company’s stock worth $809,000 after buying an additional 38,333 shares in the last quarter. Seven Fleet Capital Management LP purchased a new position in shares of Cue Biopharma in the second quarter valued at about $338,000. Bank of America Corp DE purchased a new position in shares of Cue Biopharma in the second quarter valued at about $219,000. ADAR1 Capital Management LLC bought a new position in shares of Cue Biopharma in the second quarter worth about $1,742,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in shares of Cue Biopharma in the second quarter worth about $83,000. Institutional investors own 35.04% of the company’s stock.

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.