NextCure, Inc. (NASDAQ:NXTC) Sees Significant Decline in Short Interest

NextCure, Inc. (NASDAQ:NXTC) was the recipient of a large drop in short interest in November. As of November 15th, there was short interest totalling 44,900 shares, a drop of 32.1% from the October 31st total of 66,100 shares. Based on an average daily trading volume, of 43,000 shares, the days-to-cover ratio is presently 1.0 days. Currently, 0.2% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Needham & Company LLC reissued a “buy” rating and set a $4.00 target price on shares of NextCure in a research report on Friday, August 2nd. HC Wainwright dropped their target price on shares of NextCure from $8.00 to $4.00 and set a “buy” rating on the stock in a research report on Monday, November 11th.

NextCure Stock Up 1.6 %

NextCure stock traded up $0.02 during mid-day trading on Friday, reaching $1.19. The company’s stock had a trading volume of 1,837 shares, compared to its average volume of 120,405. NextCure has a 12-month low of $1.03 and a 12-month high of $2.57. The firm’s fifty day moving average price is $1.34 and its two-hundred day moving average price is $1.47.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Logos Global Management LP grew its position in NextCure by 29.9% in the second quarter. Logos Global Management LP now owns 2,500,000 shares of the company’s stock worth $3,975,000 after acquiring an additional 575,000 shares in the last quarter. Affinity Asset Advisors LLC lifted its stake in NextCure by 24.2% in the second quarter. Affinity Asset Advisors LLC now owns 1,687,955 shares of the company’s stock worth $2,684,000 after purchasing an additional 328,918 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of NextCure by 9.3% during the first quarter. Vanguard Group Inc. now owns 987,324 shares of the company’s stock valued at $2,202,000 after acquiring an additional 83,700 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of NextCure by 15.4% during the second quarter. Renaissance Technologies LLC now owns 462,144 shares of the company’s stock valued at $735,000 after buying an additional 61,744 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of NextCure by 14.2% during the third quarter. Geode Capital Management LLC now owns 223,741 shares of the company’s stock valued at $307,000 after buying an additional 27,812 shares during the period. 42.65% of the stock is currently owned by hedge funds and other institutional investors.

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.