Wall Street Zen downgraded Cue Biopharma (NASDAQ:CUE) from sell to strong sell in a research note issued Saturday.
The downgrade followed a volatile week for the stock. Shares had surged after the company announced positive topline results from a Phase 2 clinical trial of drug candidate CUE-221 on September 21st.
Other brokerages have also commented on the stock. Zacks Research upgraded Cue Biopharma to hold on September 21st, while B. Riley Financial initiated coverage with a buy rating on September 18th.
Institutional investors and hedge funds own approximately 35% of the company’s stock.