NextCure (NASDAQ:NXTC) Stock Price Down 3.1% – Should You Sell?

NextCure, Inc. (NASDAQ:NXTC) fell 3.1% during mid-day trading on Friday . The stock traded as low as $6.02 and last traded at $6.20. 11,495 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 40,293 shares. The stock had previously closed at $6.40.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NXTC. Zacks Research downgraded shares of NextCure from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. Weiss Ratings restated a “sell (d-)” rating on shares of NextCure in a research note on Monday, April 27th. Three analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $23.00.

NextCure Price Performance

The company has a market cap of $22.38 million, a price-to-earnings ratio of -0.36 and a beta of 1.43. The firm’s 50 day simple moving average is $10.04 and its 200-day simple moving average is $11.47.

NextCure (NASDAQ:NXTC) last released its quarterly earnings data on Thursday, May 7th. The company reported ($1.87) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.10) by $0.23. On average, analysts forecast that NextCure, Inc. will post -7.91 EPS for the current year.

Institutional Investors Weigh In On NextCure

A number of institutional investors and hedge funds have recently made changes to their positions in NXTC. Ikarian Capital LLC purchased a new stake in shares of NextCure in the fourth quarter valued at about $3,382,000. Squadron Capital Management LLC purchased a new stake in shares of NextCure in the fourth quarter valued at about $3,363,000. Exome Asset Management LLC purchased a new stake in shares of NextCure in the fourth quarter valued at about $2,341,000. AWM Investment Company Inc. purchased a new stake in shares of NextCure in the fourth quarter valued at about $1,665,000. Finally, Cable Car Capital LP raised its holdings in shares of NextCure by 13.1% in the second quarter. Cable Car Capital LP now owns 758,141 shares of the company’s stock valued at $349,000 after buying an additional 88,040 shares during the last quarter. 42.65% of the stock is owned by hedge funds and other institutional investors.

About NextCure

NextCure, Inc is a clinical‐stage biopharmaceutical company focused on the discovery and development of novel immune modulators for the treatment of cancer and inflammatory diseases. Leveraging its proprietary Therapeutic Discovery Engine (TDE™), the company aims to identify, validate and optimize new targets in the immune response pathway. NextCure’s research platform integrates large‐scale proteomics and functional genomics to accelerate the progression of promising therapeutic candidates from early discovery through clinical development.

The company’s pipeline includes multiple product candidates in various stages of preclinical and clinical evaluation.