Short Interest in NextCure, Inc. (NASDAQ:NXTC) Declines By 19.4%

NextCure, Inc. (NASDAQ:NXTC) was the target of a large decline in short interest during the month of June. As of June 15th, there was short interest totalling 70,100 shares, a decline of 19.4% from the May 31st total of 87,000 shares. Based on an average daily trading volume, of 144,800 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.3% of the company’s stock are sold short.

Hedge Funds Weigh In On NextCure

Institutional investors have recently bought and sold shares of the company. Marquette Asset Management LLC acquired a new position in NextCure in the 4th quarter valued at $66,000. Acuitas Investments LLC boosted its position in shares of NextCure by 30.0% during the 4th quarter. Acuitas Investments LLC now owns 372,799 shares of the company’s stock worth $425,000 after purchasing an additional 85,982 shares in the last quarter. Cable Car Capital LLC purchased a new stake in shares of NextCure during the 4th quarter worth $702,000. Assenagon Asset Management S.A. purchased a new stake in shares of NextCure during the 1st quarter worth $952,000. Finally, Vanguard Group Inc. boosted its position in shares of 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 purchasing an additional 83,700 shares in the last quarter. 42.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

NextCure Price Performance

Shares of NXTC opened at $1.59 on Friday. The company’s fifty day moving average is $1.52 and its two-hundred day moving average is $1.49. NextCure has a 1 year low of $0.98 and a 1 year high of $2.57.

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

NextCure Company Profile

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.