NextCure, Inc. (NASDAQ:NXTC) Short Interest Down 68.9% in August

NextCure, Inc. (NASDAQ:NXTC) was the recipient of a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 46,066 shares, a decline of 68.9% from the August 15th total of 148,136 shares. Based on an average trading volume of 115,778 shares, the days-to-cover ratio is currently 0.4 days. Currently, 1.4% of the shares of the company are short sold.

Insider Buying and Selling at NextCure

In related news, major shareholder Adar1 Capital Management, Llc bought 292,850 shares of the firm’s stock in a transaction on Thursday, July 30th. The stock was acquired at an average cost of $4.93 per share, for a total transaction of $1,443,750.50. Following the purchase, the insider owned 686,116 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. Insiders have purchased 346,761 shares of company stock worth $1,710,807 over the last three months. 11.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Ikarian Capital LLC acquired a new stake in NextCure during the 4th quarter valued at approximately $3,382,000. Squadron Capital Management LLC acquired a new stake in shares of NextCure in the fourth quarter worth $3,363,000. Exome Asset Management LLC purchased a new position in shares of NextCure during the fourth quarter worth $2,341,000. AWM Investment Company Inc. purchased a new position in shares of NextCure during the fourth quarter worth $1,665,000. Finally, Cable Car Capital LP lifted its position in NextCure by 13.1% during the second quarter. Cable Car Capital LP now owns 758,141 shares of the company’s stock valued at $349,000 after purchasing an additional 88,040 shares during the period. 42.65% of the stock is owned by institutional investors and hedge funds.

NextCure Stock Down 4.2%

NXTC stock traded down $0.31 during trading on Friday, hitting $7.00. The company had a trading volume of 115,256 shares, compared to its average volume of 109,457. NextCure has a 52-week low of $1.55 and a 52-week high of $15.74. The company has a 50 day simple moving average of $5.77 and a 200-day simple moving average of $7.51. The firm has a market capitalization of $25.27 million, a P/E ratio of -0.80 and a beta of 1.33.

NextCure (NASDAQ:NXTC) last issued its earnings results on Thursday, August 6th. The company reported ($2.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.95) by ($0.85).

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on NXTC shares. HC Wainwright reaffirmed a “buy” rating on shares of NextCure in a report on Thursday, August 13th. Zacks Research raised shares of NextCure from a “strong sell” rating to a “hold” rating in a report on Thursday, June 11th. Wall Street Zen upgraded shares of NextCure from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, Weiss Ratings downgraded shares of NextCure from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, August 26th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus 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.