NextCure (NASDAQ:NXTC) Shares Up 7.7% – Here’s What Happened

NextCure, Inc. (NASDAQ:NXTC)’s stock price was up 7.7% during trading on Tuesday . The stock traded as high as $8.64 and last traded at $8.42. Approximately 95,035 shares changed hands during mid-day trading, a decline of 36% from the average daily volume of 147,812 shares. The stock had previously closed at $7.82.

Analysts Set New Price Targets

Several equities analysts have weighed in on NXTC shares. HC Wainwright reiterated a “buy” rating on shares of NextCure in a research report on Thursday, August 13th. Weiss Ratings lowered NextCure from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, August 26th. Wall Street Zen raised NextCure from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, Zacks Research upgraded NextCure from a “strong sell” rating to a “hold” rating in a report on Thursday, June 11th. 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 company’s stock. According to data from MarketBeat, NextCure presently has an average rating of “Hold” and a consensus target price of $19.00.

NextCure Stock Down 9.4%

The business’s 50-day moving average price is $5.56 and its 200-day moving average price is $7.56. The firm has a market capitalization of $26.39 million, a PE ratio of -0.84 and a beta of 1.33.

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

Insider Activity

In related news, major shareholder Adar1 Capital Management, Llc purchased 36,303 shares of the stock in a transaction dated Friday, July 31st. The shares were acquired at an average cost of $4.94 per share, for a total transaction of $179,336.82. Following the acquisition, the insider directly owned 722,419 shares in the company, valued at approximately $3,568,749.86. The trade was a 5.29% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have acquired 346,761 shares of company stock worth $1,710,807. Company insiders own 11.90% of the company’s stock.

Institutional Trading of NextCure

Hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its position in NextCure by 18.6% during the fourth quarter. Geode Capital Management LLC now owns 23,157 shares of the company’s stock valued at $329,000 after purchasing an additional 3,636 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of NextCure by 18.7% during the 4th quarter. Renaissance Technologies LLC now owns 33,634 shares of the company’s stock worth $477,000 after purchasing an additional 5,300 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of NextCure during the 4th quarter worth about $160,000. Millennium Management LLC acquired a new stake in shares of NextCure during the 4th quarter valued at about $185,000. Finally, Affinity Asset Advisors LLC lifted its holdings in shares of NextCure by 28.9% during the 4th quarter. Affinity Asset Advisors LLC now owns 247,294 shares of the company’s stock valued at $3,509,000 after buying an additional 55,412 shares during the last quarter. 42.65% of the stock is currently owned by hedge funds and other institutional investors.

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.