NextCure, Inc. (NASDAQ:NXTC) Stock Short Interest Rises 128.5%

NextCure, Inc. (NASDAQ:NXTC) was the target of a large growth in short interest in September. As of September 15th, there was short interest totaling 105,240 shares, a growth of 128.5% from the August 31st total of 46,066 shares. Based on an average daily volume of 99,535 shares, the days-to-cover ratio is currently 1.1 days. Currently, 3.3% of the company’s shares are sold short.

Insider Activity at NextCure

In related news, major shareholder Adar1 Capital Management, Llc bought 36,303 shares of the company’s stock in a transaction dated Friday, July 31st. The stock was purchased at an average cost of $4.94 per share, with a total value of $179,336.82. Following the transaction, the insider owned 722,419 shares in the company, valued at approximately $3,568,749.86. This trade represents a 5.29% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have bought 346,761 shares of company stock valued at $1,710,807. Company insiders own 11.90% of the company’s stock.

Hedge Funds Weigh In On NextCure

A hedge fund recently raised its position in NextCure stock. Renaissance Technologies LLC increased its position in NextCure, Inc. (NASDAQ:NXTC) by 80.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,534 shares of the company’s stock after purchasing an additional 26,900 shares during the period. Renaissance Technologies LLC owned approximately 1.68% of NextCure worth $647,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 42.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NXTC. Weiss Ratings cut NextCure from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, August 26th. Zacks Research upgraded NextCure from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 11th. Wall Street Zen raised NextCure from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, HC Wainwright reissued a “buy” rating on shares of NextCure in a research report on Thursday, August 13th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, NextCure has a consensus rating of “Hold” and an average price target of $19.00.

NextCure Stock Down 3.8%

Shares of NXTC stock traded down $0.20 during trading hours on Friday, hitting $5.08. 71,789 shares of the company’s stock traded hands, compared to its average volume of 108,736. The stock’s fifty day simple moving average is $6.16 and its two-hundred day simple moving average is $7.02. NextCure has a 12-month low of $1.55 and a 12-month high of $15.74. The stock has a market cap of $18.35 million, a price-to-earnings ratio of -0.58 and a beta of 1.33.

NextCure (NASDAQ:NXTC) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($2.80) earnings per share for the quarter, missing the consensus estimate of ($1.95) by ($0.85).

About NextCure

NextCure, Inc is a clinical-stage biotechnology company focused on developing immunomedicines for the treatment of cancer. The company’s research is centered on restoring or strengthening the immune system’s ability to recognize and attack tumor cells, with an emphasis on immune-suppressive mechanisms within the tumor microenvironment.

NextCure’s pipeline has included NC318, an investigational antibody designed to target Siglec-6, and NC410, an investigational fusion protein intended to interfere with the LAIR-2 immune-regulatory pathway.