NextCure (NASDAQ:NXTC) Shares Down 3.6% – Here’s Why

NextCure, Inc. (NASDAQ:NXTC)’s stock price dropped 3.6% on Wednesday . The company traded as low as $1.34 and last traded at $1.35. Approximately 9,600 shares changed hands during trading, a decline of 92% from the average daily volume of 126,214 shares. The stock had previously closed at $1.40.

Analyst Ratings Changes

Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $4.00 target price on shares of NextCure in a research note on Friday, August 2nd.

NextCure Stock Performance

The company has a market cap of $37.77 million, a PE ratio of -0.62 and a beta of 0.79. The company has a fifty day moving average of $1.41 and a two-hundred day moving average of $1.50.

NextCure (NASDAQ:NXTC) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.19). On average, equities analysts forecast that NextCure, Inc. will post -1.79 EPS for the current year.

Institutional Trading of NextCure

Large investors have recently made changes to their positions in the stock. Armistice Capital LLC bought a new stake in shares of NextCure during the second quarter valued at approximately $57,000. Renaissance Technologies LLC increased its holdings in NextCure by 15.4% during the 2nd quarter. Renaissance Technologies LLC now owns 462,144 shares of the company’s stock worth $735,000 after purchasing an additional 61,744 shares during the period. Vanguard Group Inc. lifted its holdings in shares of NextCure by 9.3% in the 1st quarter. Vanguard Group Inc. now owns 987,324 shares of the company’s stock worth $2,202,000 after buying an additional 83,700 shares during the period. Affinity Asset Advisors LLC increased its stake in shares of 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 buying an additional 328,918 shares during the period. Finally, Logos Global Management LP lifted its stake 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 during the period. 42.65% of the stock is 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.