NextCure (NASDAQ:NXTC) Stock Price Down 7.1% – Here’s What Happened

NextCure, Inc. (NASDAQ:NXTC) shares were down 7.1% during mid-day trading on Tuesday . The company traded as low as $0.76 and last traded at $0.77. Approximately 1,091,424 shares changed hands during trading, an increase of 714% from the average daily volume of 134,012 shares. The stock had previously closed at $0.83.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright lowered their target price on shares of NextCure from $8.00 to $4.00 and set a “buy” rating on the stock in a research note on Monday, November 11th.

NextCure Price Performance

The stock has a market cap of $22.32 million, a PE ratio of -0.38 and a beta of 0.63. The business has a 50 day moving average price of $1.16 and a two-hundred day moving average price of $1.38.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC raised its position in NextCure by 14.2% in the 3rd quarter. Geode Capital Management LLC now owns 223,741 shares of the company’s stock worth $307,000 after buying an additional 27,812 shares during the last quarter. Armistice Capital LLC bought a new position in shares of NextCure during the 2nd quarter valued at approximately $57,000. Renaissance Technologies LLC lifted its holdings 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 in the last quarter. Affinity Asset Advisors LLC lifted its stake in shares of NextCure by 24.2% during the 2nd 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 in the last quarter. Finally, Logos Global Management LP lifted its position in shares of NextCure by 29.9% in the second quarter. Logos Global Management LP now owns 2,500,000 shares of the company’s stock valued at $3,975,000 after acquiring an additional 575,000 shares in the last quarter. Institutional investors own 42.65% of the company’s stock.

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.