NextCure, Inc. (NASDAQ:NXTC) Short Interest Update

NextCure, Inc. (NASDAQ:NXTC) saw a significant drop in short interest in July. As of July 31st, there was short interest totaling 141,248 shares, a drop of 89.3% from the July 15th total of 1,323,834 shares. Based on an average daily volume of 862,182 shares, the short-interest ratio is currently 0.2 days. Currently, 4.4% of the company’s stock are sold short.

Insiders Place Their Bets

In related news, major shareholder Adar1 Capital Management, Llc purchased 292,850 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The shares were bought at an average cost of $4.93 per share, with a total value of $1,443,750.50. Following the acquisition, the insider owned 686,116 shares of the company’s stock, valued at $3,382,551.88. This represents a 74.47% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have bought 346,761 shares of company stock worth $1,710,807 in the last 90 days. 11.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NextCure

Several institutional investors and hedge funds have recently modified their holdings of NXTC. Marshall Wace LLP purchased a new position in NextCure in the fourth quarter worth about $160,000. Millennium Management LLC bought a new stake in shares of NextCure in the 4th quarter valued at approximately $185,000. Geode Capital Management LLC boosted its holdings in shares of NextCure by 18.6% in the 4th quarter. Geode Capital Management LLC now owns 23,157 shares of the company’s stock worth $329,000 after purchasing an additional 3,636 shares during the period. Cable Car Capital LP boosted its holdings in shares of NextCure by 13.1% in the 2nd quarter. Cable Car Capital LP now owns 758,141 shares of the company’s stock worth $349,000 after purchasing an additional 88,040 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of NextCure by 18.7% during the 4th quarter. Renaissance Technologies LLC now owns 33,634 shares of the company’s stock valued at $477,000 after purchasing an additional 5,300 shares during the last quarter. Institutional investors own 42.65% of the company’s stock.

NextCure Trading Up 17.5%

Shares of NXTC stock traded up $1.18 during midday trading on Wednesday, reaching $7.91. 328,448 shares of the stock were exchanged, compared to its average volume of 910,181. NextCure has a 1 year low of $1.55 and a 1 year high of $15.74. The company’s 50 day moving average is $3.49 and its two-hundred day moving average is $8.29. The firm has a market cap of $28.57 million, a PE ratio of -0.91 and a beta of 1.27.

NextCure (NASDAQ:NXTC) last issued 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). As a group, equities analysts expect that NextCure will post -7.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Zacks Research raised NextCure from a “strong sell” rating to a “hold” rating in a report on Thursday, June 11th. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 target price on shares of NextCure in a research note on Wednesday, July 15th. Weiss Ratings lowered shares of NextCure from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, July 7th. Finally, Wall Street Zen cut shares of NextCure from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $19.00.

NextCure Company Profile

NextCure, Inc is a clinical‐stage biopharmaceutical company focused on the discovery and development of novel immune modulators for the treatment of cancer and inflammatory diseases. Leveraging its proprietary Therapeutic Discovery Engine (TDE™), the company aims to identify, validate and optimize new targets in the immune response pathway. NextCure’s research platform integrates large‐scale proteomics and functional genomics to accelerate the progression of promising therapeutic candidates from early discovery through clinical development.

The company’s pipeline includes multiple product candidates in various stages of preclinical and clinical evaluation.