Key Points
- Cue Biopharma VP Michael Vincent Meluzio sold 1,144 shares at an average price of $28.05, totaling $32,089.20. The sale covered tax-withholding obligations tied to vested equity awards and reduced his holdings by 2.34%.
- Cue Biopharma shares opened at $18.60, with the stock down 5.0%; the company reported a quarterly loss of $24.14 per share, substantially worse than analysts’ $1.69 loss estimate, despite revenue exceeding expectations.
- Institutional investors own 35.04% of the company, while analyst sentiment is mixed, resulting in a consensus “Hold” rating and an average price target of $83.00.
Cue Biopharma, Inc. (NASDAQ:CUE - Get Free Report) VP Michael Vincent Meluzio sold 1,144 shares of the firm's stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $28.05, for a total value of $32,089.20. Following the completion of the sale, the vice president owned 47,817 shares of the company's stock, valued at $1,341,266.85. This represents a 2.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Michael Vincent Meluzio also recently made the following trade(s):
- On Thursday, August 13th, Michael Vincent Meluzio sold 5,628 shares of Cue Biopharma stock. The stock was sold at an average price of $30.09, for a total value of $169,346.52.
Cue Biopharma Trading Down 5.0%
Shares of NASDAQ:CUE opened at $18.60 on Thursday. The firm has a market capitalization of $135.11 million, a PE ratio of -0.69 and a beta of 2.62. Cue Biopharma, Inc. has a 1-year low of $4.97 and a 1-year high of $45.50. The business's 50 day moving average is $27.73 and its 200-day moving average is $72.25.
Cue Biopharma (NASDAQ:CUE - Get Free Report) last issued its earnings results on Friday, August 14th. The company reported ($24.14) EPS for the quarter, missing analysts' consensus estimates of ($1.69) by ($22.45). The firm had revenue of $7.88 million during the quarter, compared to analyst estimates of $3.00 million. Cue Biopharma had a negative net margin of 435.83% and a negative return on equity of 620.06%. On average, sell-side analysts predict that Cue Biopharma, Inc. will post -21.79 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CUE. Northwestern Mutual Wealth Management Co. acquired a new stake in Cue Biopharma during the second quarter valued at approximately $83,000. Bank of America Corp DE acquired a new stake in Cue Biopharma during the second quarter valued at approximately $219,000. Seven Fleet Capital Management LP bought a new stake in shares of Cue Biopharma in the 2nd quarter valued at approximately $338,000. Persistent Asset Partners Ltd bought a new stake in shares of Cue Biopharma in the 2nd quarter valued at approximately $389,000. Finally, Texas Capital Bank Wealth Management Services Inc bought a new stake in shares of Cue Biopharma in the 2nd quarter valued at approximately $722,000. Institutional investors own 35.04% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have weighed in on CUE. Wall Street Zen downgraded shares of Cue Biopharma from a "sell" rating to a "strong sell" rating in a research note on Saturday, September 26th. Zacks Research raised shares of Cue Biopharma to a "hold" rating in a report on Monday, September 21st. Weiss Ratings cut shares of Cue Biopharma from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday, August 27th. Finally, B. Riley Financial began coverage on shares of Cue Biopharma in a research note on Friday, September 18th. They issued a "buy" rating and a $83.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $83.00.
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About Cue Biopharma
(
Get Free Report)
Cue Biopharma, Inc is a clinical-stage biotechnology company focused on developing targeted immunotherapies for cancer and other serious diseases. The company's approach is based on its proprietary Immuno-STAT (Selective Targeting of Antigenic T cells) platform, which is designed to selectively activate and expand disease-specific T cells in the body while potentially reducing the broad immune activation associated with some conventional immunotherapies.
Cue Biopharma's pipeline includes biologic product candidates intended to target cancer-associated antigens.
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