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

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

NextCure Stock Up 1.6 %

NextCure stock traded up $0.02 during midday trading on Friday, reaching $1.19. 1,837 shares of the company traded hands, compared to its average volume of 120,405. The business has a 50 day moving average of $1.34 and a two-hundred day moving average of $1.47. NextCure has a 12 month low of $1.03 and a 12 month high of $2.57.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NXTC. Needham & Company LLC restated a “buy” rating and issued a $4.00 price objective on shares of NextCure in a report on Friday, August 2nd. HC Wainwright cut their price target on shares of NextCure from $8.00 to $4.00 and set a “buy” rating on the stock in a report on Monday, November 11th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NXTC. Logos Global Management LP lifted its position in NextCure by 29.9% during the second quarter. Logos Global Management LP now owns 2,500,000 shares of the company’s stock valued at $3,975,000 after purchasing an additional 575,000 shares during the period. Affinity Asset Advisors LLC lifted its position in NextCure by 24.2% during the second quarter. Affinity Asset Advisors LLC now owns 1,687,955 shares of the company’s stock valued at $2,684,000 after purchasing an additional 328,918 shares during the period. Vanguard Group Inc. lifted its position in 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 purchasing an additional 83,700 shares during the period. Renaissance Technologies LLC lifted its position in 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 purchasing an additional 61,744 shares during the period. Finally, Armistice Capital LLC bought a new position in NextCure during the second quarter valued at approximately $57,000. Institutional investors own 42.65% of the company’s stock.

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.