Sumita Ray Sells 8,829 Shares of Cue Biopharma (NASDAQ:CUE) Stock

Cue Biopharma, Inc. (NASDAQ:CUE) insider Sumita Ray sold 8,829 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $30.09, for a total transaction of $265,664.61. Following the transaction, the insider directly owned 118,545 shares of the company’s stock, valued at $3,567,019.05. The trade was a 6.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Cue Biopharma Trading Down 7.0%

Shares of CUE stock opened at $25.70 on Wednesday. Cue Biopharma, Inc. has a 12-month low of $4.97 and a 12-month high of $45.50. The firm’s 50 day moving average is $29.37 and its 200 day moving average is $141.55. The stock has a market capitalization of $107.94 million, a P/E ratio of -0.95 and a beta of 2.47.

Cue Biopharma (NASDAQ:CUE) last posted its 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 the consensus estimate of $3.00 million. Cue Biopharma had a negative return on equity of 482.58% and a negative net margin of 435.83%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Cue Biopharma in a report on Thursday, August 13th. Wall Street Zen lowered shares of Cue Biopharma from a “buy” rating to a “hold” rating in a research report on Saturday. One analyst has rated the stock with a Sell rating, According to MarketBeat, Cue Biopharma has an average rating of “Sell”.

Institutional Investors Weigh In On Cue Biopharma

A number of hedge funds have recently modified their holdings of CUE. Texas Capital Bank Wealth Management Services Inc bought a new position in Cue Biopharma in the 2nd quarter worth $722,000. Persistent Asset Partners Ltd purchased a new position in Cue Biopharma during the second quarter valued at $389,000. GC Wealth Management RIA LLC grew its holdings in Cue Biopharma by 35.0% during the fourth quarter. GC Wealth Management RIA LLC now owns 4,631,644 shares of the company’s stock valued at $1,415,000 after purchasing an additional 1,200,000 shares during the period. Northwestern Mutual Wealth Management Co. bought a new stake in Cue Biopharma during the second quarter valued at about $83,000. Finally, BlackRock Inc. purchased a new stake in Cue Biopharma in the second quarter worth about $1,824,000. Institutional investors own 35.04% of the company’s stock.

About Cue Biopharma

Cue Biopharma is a clinical‐stage biotechnology company focused on the development of next‐generation immunotherapies for cancer and infectious diseases. The company’s proprietary platform, known as Cytokine Release & Targeting (CRT), is designed to deliver cytokine payloads directly to antigen‐specific T cells in order to enhance immune responses within targeted tissues. This approach aims to improve the therapeutic index of cytokine treatments by limiting systemic exposure and potentiating localized immune activation.

Founded in 2015 and headquartered in Cambridge, Massachusetts, Cue Biopharma has advanced multiple lead programs into early‐stage clinical studies.