Cue Biopharma (NASDAQ:CUE) Insider Sumita Ray Sells 1,844 Shares of Company Stock

Cue Biopharma, Inc. (NASDAQ:CUE) insider Sumita Ray sold 1,844 shares of the firm’s stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $28.05, for a total value of $51,724.20. Following the completion of the transaction, the insider owned 116,701 shares in the company, valued at $3,273,463.05. This represents a 1.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 value of $265,664.61.

Cue Biopharma Stock Down 5.0%

Shares of NASDAQ:CUE opened at $18.60 on Thursday. The business’s 50 day moving average is $27.73 and its 200 day moving average is $72.25. Cue Biopharma, Inc. has a 12-month low of $4.97 and a 12-month high of $45.50. The stock has a market cap of $135.11 million, a price-to-earnings ratio of -0.69 and a beta of 2.62.

Cue Biopharma (NASDAQ:CUE) last released its quarterly 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 company had revenue of $7.88 million during the quarter, compared to analysts’ expectations of $3.00 million. Cue Biopharma had a negative net margin of 435.83% and a negative return on equity of 620.06%. As a group, equities research analysts expect that Cue Biopharma, Inc. will post -21.79 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on CUE. Wall Street Zen lowered shares of Cue Biopharma from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 26th. B. Riley Financial assumed coverage on shares of Cue Biopharma in a report on Friday, September 18th. They issued a “buy” rating and a $83.00 target price for the company. Weiss Ratings lowered shares of Cue Biopharma from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, August 27th. Finally, Zacks Research raised shares of Cue Biopharma to a “hold” rating in a research report on Monday, September 21st. One 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $83.00.

Hedge Funds Weigh In On Cue Biopharma

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Cue Biopharma in the 2nd quarter worth approximately $83,000. Bank of America Corp DE bought a new position in shares of Cue Biopharma in the second quarter valued at approximately $219,000. Seven Fleet Capital Management LP purchased a new stake in shares of Cue Biopharma during the second quarter valued at approximately $338,000. Persistent Asset Partners Ltd purchased a new stake in shares of Cue Biopharma during the second quarter valued at approximately $389,000. Finally, Texas Capital Bank Wealth Management Services Inc purchased a new stake in shares of Cue Biopharma during the second quarter valued at approximately $722,000. Hedge funds and other institutional investors own 35.04% of the company’s stock.

About Cue Biopharma

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.