NextCure (NASDAQ:NXTC) Stock Breaks Below 50 Day Moving Average on Disappointing Earnings

NextCure, Inc. (NASDAQ:NXTC) passed below its fifty day moving average during trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock has a fifty day moving average of $6.05 and traded as low as $5.60. NextCure shares last traded at $5.98, with a volume of 81,525 shares.

The company reported ($1.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.39).

Wall Street Analyst Weigh In

NXTC has been the subject of several research analyst reports. HC Wainwright reiterated a “buy” rating on shares of NextCure in a research report on Thursday, August 13th. Wall Street Zen upgraded shares of NextCure from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Finally, Weiss Ratings cut shares of NextCure from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, October 26th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, NextCure currently has a consensus rating of “Hold” and an average price target of $20.00.

Insider Activity at NextCure

In related news, major shareholder Adar1 Capital Management, Llc purchased 5,626 shares of the firm’s stock in a transaction dated Friday, October 23rd. The stock was purchased at an average price of $4.83 per share, with a total value of $27,173.58. Following the completion of the purchase, the insider owned 728,045 shares of the company’s stock, valued at approximately $3,516,457.35. The trade was a 0.78% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have purchased 15,537 shares of company stock worth $77,603 over the last 90 days. Company insiders own 11.90% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in NextCure stock. Renaissance Technologies LLC increased its holdings in NextCure, Inc. (NASDAQ:NXTC) by 80.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 60,534 shares of the company’s stock after acquiring an additional 26,900 shares during the quarter. Renaissance Technologies LLC owned approximately 1.68% of NextCure worth $647,000 as of its most recent SEC filing. Institutional investors own 42.65% of the company’s stock.

NextCure Stock Performance

The company’s fifty day simple moving average is $6.05 and its 200-day simple moving average is $7.63. The company has a market capitalization of $27.39 million, a P/E ratio of -0.69 and a beta of 1.22.

About NextCure

NextCure, Inc. (NASDAQ: NXTC) is a clinical-stage biotechnology company focused on developing immunomedicines for the treatment of cancer. The company’s research is aimed at identifying and targeting biological mechanisms that suppress the immune system’s ability to recognize and attack tumor cells. NextCure’s product candidates have included NC318, an antibody designed to target Siglec-6, and NC410, a fusion protein intended to block the LAIR-1 immune-suppressive pathway. These programs have been evaluated in early-stage clinical studies involving patients with advanced solid tumors, with the goal of developing treatments that may restore or enhance anti-tumor immune responses.