Short Interest in NextCure, Inc. (NASDAQ:NXTC) Drops By 15.0%

NextCure, Inc. (NASDAQ:NXTC) saw a large drop in short interest in July. As of July 15th, there was short interest totalling 84,100 shares, a drop of 15.0% from the June 30th total of 98,900 shares. Currently, 0.4% of the company’s stock are short sold. Based on an average daily volume of 94,300 shares, the short-interest ratio is presently 0.9 days.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Affinity Asset Advisors LLC purchased a new position in NextCure during the 1st quarter worth approximately $3,031,000. Vanguard Group Inc. grew its stake in NextCure by 9.3% during the 1st quarter. Vanguard Group Inc. now owns 987,324 shares of the company’s stock worth $2,202,000 after buying an additional 83,700 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in NextCure during the 1st quarter worth approximately $952,000. Cable Car Capital LLC purchased a new position in NextCure during the 4th quarter worth approximately $702,000. Finally, Marquette Asset Management LLC purchased a new position in NextCure during the 4th quarter worth approximately $66,000. Hedge funds and other institutional investors own 42.65% of the company’s stock.

NextCure Stock Performance

Shares of NASDAQ NXTC opened at $1.57 on Tuesday. NextCure has a fifty-two week low of $0.98 and a fifty-two week high of $2.57. The firm has a market capitalization of $43.91 million, a PE ratio of -0.69 and a beta of 0.68. The stock’s 50-day simple moving average is $1.55 and its 200-day simple moving average is $1.56.

NextCure (NASDAQ:NXTC) last issued its earnings results on Thursday, May 2nd. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.16). On average, sell-side analysts forecast that NextCure will post -1.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NXTC. Needham & Company LLC reissued a “buy” rating and set a $4.00 target price on shares of NextCure in a research report on Friday, May 3rd. HC Wainwright reissued a “buy” rating and set a $8.00 target price on shares of NextCure in a research report on Friday, May 31st.

About NextCure

NextCure, Inc, a clinical-stage biopharmaceutical company, engages in discovering and developing novel immunomedicines to treat cancer and other immune-related diseases by restoring normal immune function. The company is developing NC410, an immunomedicine designed to block immune suppression mediated by LAIR-1; NC762, a monoclonal antibody that binds specifically to B7-H4, a protein expressed on multiple tumor types; and NC525, a monoclonal antibody that binds to LAIR-1 to functionally kill AML blast cells and leukemic stem cells while preserving normal blood cells, including hematopoietic stem cells.