NextCure, Inc. (NASDAQ:NXTC) Stock Short Interest Climbs 128.5%

NextCure, Inc. (NASDAQ:NXTC) was the recipient of a significant increase in short interest in September. As of September 15th, there was short interest totaling 105,240 shares, an increase of 128.5% from the August 31st total of 46,066 shares. Based on an average daily trading volume, of 99,535 shares, the days-to-cover ratio is currently 1.1 days. Approximately 3.3% of the company’s stock are sold short.

Insider Buying and Selling at NextCure

In related news, major shareholder Adar1 Capital Management, Llc acquired 292,850 shares of the stock in a transaction dated Thursday, July 30th. The stock was bought at an average price of $4.93 per share, with a total value of $1,443,750.50. Following the completion of the transaction, the insider directly owned 686,116 shares of the company’s stock, valued at approximately $3,382,551.88. The trade was a 74.47% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased a total of 346,761 shares of company stock valued at $1,710,807 in the last ninety days. 11.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NextCure

An institutional investor recently raised its stake in NextCure stock. Renaissance Technologies LLC lifted its position in shares of NextCure, Inc. (NASDAQ:NXTC) by 80.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,534 shares of the company’s stock after purchasing an additional 26,900 shares during the period. Renaissance Technologies LLC owned 1.68% of NextCure worth $647,000 as of its most recent filing with the Securities and Exchange Commission. 42.65% of the stock is currently owned by institutional investors and hedge funds.

NextCure Price Performance

NXTC stock traded down $0.16 during midday trading on Tuesday, reaching $4.92. 35,058 shares of the company were exchanged, compared to its average volume of 771,501. The business has a 50-day moving average price of $6.15 and a two-hundred day moving average price of $6.93. NextCure has a one year low of $1.55 and a one year high of $15.74. The firm has a market capitalization of $17.76 million, a price-to-earnings ratio of -0.57 and a beta of 1.33.

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

Wall Street Analysts Forecast Growth

NXTC has been the subject of a number of research reports. Zacks Research upgraded NextCure from a “strong sell” rating to a “hold” rating in a report on Thursday, June 11th. Weiss Ratings downgraded NextCure from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, August 26th. HC Wainwright restated a “buy” rating on shares of NextCure in a report on Thursday, August 13th. Finally, Wall Street Zen raised shares of NextCure from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, NextCure has an average rating of “Hold” and an average target price of $19.00.

About NextCure

NextCure, Inc is a clinical-stage biotechnology company focused on developing immunomedicines for the treatment of cancer. The company’s research is centered on restoring or strengthening the immune system’s ability to recognize and attack tumor cells, with an emphasis on immune-suppressive mechanisms within the tumor microenvironment.

NextCure’s pipeline has included NC318, an investigational antibody designed to target Siglec-6, and NC410, an investigational fusion protein intended to interfere with the LAIR-2 immune-regulatory pathway.