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Cue Biopharma, Inc. (CUE) Stock Jumps 6.5%: Will It Continue to Soar?
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Cue Biopharma, Inc. (CUE - Free Report) shares soared 6.5% in the last trading session to close at $6.70. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 36.8% loss over the past four weeks.
Last month, the company announced an interim update regarding the dose escalation portion of an ongoing phase I study evaluating its lead pipeline candidate, CUE-101, in combination with Keytruda for first-line treatment of patients with HPV+ recurrent/metastatic head and neck cancer. Early data from the same showed that treatment with the combo of CUE-101 plus Keytruda supports synergistic activity. This might have been driving the share price rally.
This company is expected to post quarterly loss of $0.34 per share in its upcoming report, which represents a year-over-year change of +8.1%. Revenues are expected to be $6.5 million, up 1254.8% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Cue Biopharma, Inc., the consensus EPS estimate for the quarter has been revised 1.2% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on CUE going forward to see if this recent jump can turn into more strength down the road.
Cue Biopharma, Inc. is part of the Zacks Medical - Biomedical and Genetics industry. IDEAYA Biosciences, Inc. (IDYA - Free Report) , another stock in the same industry, closed the last trading session 3.2% lower at $14.72. IDYA has returned -14.7% in the past month.
For IDEAYA Biosciences, Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.31. This represents a change of -72.2% from what the company reported a year ago. IDEAYA Biosciences, Inc. currently has a Zacks Rank of #3 (Hold).
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Cue Biopharma, Inc. (CUE) Stock Jumps 6.5%: Will It Continue to Soar?
Cue Biopharma, Inc. (CUE - Free Report) shares soared 6.5% in the last trading session to close at $6.70. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 36.8% loss over the past four weeks.
Last month, the company announced an interim update regarding the dose escalation portion of an ongoing phase I study evaluating its lead pipeline candidate, CUE-101, in combination with Keytruda for first-line treatment of patients with HPV+ recurrent/metastatic head and neck cancer. Early data from the same showed that treatment with the combo of CUE-101 plus Keytruda supports synergistic activity. This might have been driving the share price rally.
This company is expected to post quarterly loss of $0.34 per share in its upcoming report, which represents a year-over-year change of +8.1%. Revenues are expected to be $6.5 million, up 1254.8% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Cue Biopharma, Inc., the consensus EPS estimate for the quarter has been revised 1.2% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on CUE going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Cue Biopharma, Inc. is part of the Zacks Medical - Biomedical and Genetics industry. IDEAYA Biosciences, Inc. (IDYA - Free Report) , another stock in the same industry, closed the last trading session 3.2% lower at $14.72. IDYA has returned -14.7% in the past month.
For IDEAYA Biosciences, Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.31. This represents a change of -72.2% from what the company reported a year ago. IDEAYA Biosciences, Inc. currently has a Zacks Rank of #3 (Hold).