Insider Selling: Cue Biopharma (NASDAQ:CUE) Insider Sells $51,724.20 in Stock

Cue Biopharma, Inc. (NASDAQ:CUE) insider Sumita Ray sold 1,844 shares of the stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $28.05, for a total transaction of $51,724.20. Following the completion of the sale, the insider directly owned 116,701 shares in the company, valued at approximately $3,273,463.05. The trade was a 1.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sumita Ray also recently made the following trade(s):

• On Thursday, August 13th, Sumita Ray sold 8,829 shares of Cue Biopharma stock. The shares were sold at an average price of $30.09, for a total transaction of $265,664.61.

Cue Biopharma Stock Down 10.5%

NASDAQ:CUE traded down $1.96 during mid-day trading on Friday, hitting $16.71. 106,462 shares of the stock traded hands, compared to its average volume of 475,957. The business’s 50-day moving average price is $27.36 and its 200 day moving average price is $70.48. The company has a market cap of $121.31 million, a PE ratio of -0.62 and a beta of 2.62. Cue Biopharma, Inc. has a 12-month low of $4.97 and a 12-month high of $45.50.

Cue Biopharma (NASDAQ:CUE) last posted 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). Cue Biopharma had a negative return on equity of 620.06% and a negative net margin of 435.83%. The firm had revenue of $7.88 million during the quarter, compared to analysts’ expectations of $3.00 million. Analysts anticipate that Cue Biopharma, Inc. will post -21.79 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CUE shares. Wall Street Zen cut shares of Cue Biopharma from a “sell” rating to a “strong sell” rating in a report on Saturday, September 26th. Zacks Research upgraded Cue Biopharma to a “hold” rating in a research report on Monday, September 21st. B. Riley Financial started coverage on Cue Biopharma in a research note on Friday, September 18th. They set a “buy” rating and a $83.00 price objective for the company. Finally, Weiss Ratings cut Cue Biopharma from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $83.00.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in Cue Biopharma during the second quarter valued at approximately $1,824,000. ADAR1 Capital Management LLC purchased a new position in Cue Biopharma in the 2nd quarter worth approximately $1,742,000. Texas Capital Bank Wealth Management Services Inc purchased a new position in Cue Biopharma in the 2nd quarter worth approximately $722,000. Bank of America Corp DE bought a new position in shares of Cue Biopharma in the 2nd quarter worth $219,000. Finally, Citadel Advisors LLC increased its holdings in shares of 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 during the last quarter. 35.04% of the stock is currently owned by institutional investors.

Cue Biopharma Company Profile

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.