Cue Biopharma reports quarterly earnings miss and CEO stock sales

Cue Biopharma, Inc. (NASDAQ:CUE) reported quarterly earnings that significantly missed analyst expectations. The company reported an earnings per share (EPS) of -$24.14, missing the consensus estimate of -$1.69 by $22.45. Despite the earnings miss, the company reported revenue of $7.88 million for the quarter, exceeding the consensus estimate of $3.00 million.

In related filings, CEO Shao-Lee Lin engaged in insider selling. On August 13th, Lin sold 18,258 shares at an average price of $28.62 to cover tax withholding obligations related to the vesting of equity awards. This followed a separate sale of 40,000 shares on August 12th at an average price of $27.10. Following these transactions, the CEO retains 705,995 shares.

Following the earnings release, Cue Biopharma shares saw an increase of $3.12 during midday trading, reaching $34.20.