Short Interest in NextCure Inc (NASDAQ:NXTC) Declines By 19.0%

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NextCure Inc (NASDAQ:NXTC) was the recipient of a large drop in short interest during the month of November. As of November 29th, there was short interest totalling 506,800 shares, a drop of 19.0% from the November 14th total of 625,500 shares. Approximately 4.1% of the shares of the company are short sold. Based on an average daily volume of 477,000 shares, the days-to-cover ratio is presently 1.1 days.

Shares of NXTC stock traded up $0.68 on Friday, hitting $51.92. 244,214 shares of the stock were exchanged, compared to its average volume of 554,998. The company has a quick ratio of 15.00, a current ratio of 15.00 and a debt-to-equity ratio of 0.02. NextCure has a one year low of $13.86 and a one year high of $109.00. The firm’s 50 day moving average is $43.41 and its two-hundred day moving average is $29.30.

NextCure (NASDAQ:NXTC) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.02). The firm had revenue of $1.58 million during the quarter, compared to the consensus estimate of $1.50 million. As a group, equities research analysts predict that NextCure will post -2.19 earnings per share for the current year.

In other NextCure news, major shareholder Sofinnova Venture Partners Ix, bought 150,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was purchased at an average cost of $36.75 per share, with a total value of $5,512,500.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Several hedge funds have recently bought and sold shares of NXTC. Orbimed Advisors LLC bought a new position in shares of NextCure during the 2nd quarter worth $40,611,000. Sofinnova Investments Inc. bought a new position in shares of NextCure during the 2nd quarter worth $37,777,000. Citadel Advisors LLC bought a new position in shares of NextCure during the 2nd quarter worth $16,385,000. Cormorant Asset Management LP bought a new position in shares of NextCure during the 2nd quarter worth $14,980,000. Finally, Hillhouse Capital Management LTD. bought a new position in shares of NextCure during the 2nd quarter worth $14,659,000. Institutional investors own 49.62% of the company’s stock.

Several equities research analysts have recently issued reports on NXTC shares. Bank of America raised their target price on NextCure from $27.00 to $44.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $87.00 target price (down from $95.00) on shares of NextCure in a research report on Wednesday, November 20th. Morgan Stanley raised their target price on NextCure from $33.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. BTIG Research started coverage on NextCure in a research report on Tuesday, November 26th. They set a “buy” rating and a $61.00 target price for the company. Finally, Needham & Company LLC began coverage on NextCure in a research report on Thursday, December 5th. They set a “buy” rating and a $72.00 target price for the company. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. NextCure presently has an average rating of “Buy” and a consensus target price of $57.50.

NextCure Company Profile

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