Quince Therapeutics Target of Unusually High Options Trading (NASDAQ:QNCX)

Quince Therapeutics, Inc. (NASDAQ:QNCX) saw unusually large options trading activity on Friday. Stock traders acquired 3,663 call options on the company. This is an increase of approximately 273% compared to the typical daily volume of 983 call options.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on QNCX shares. Weiss Ratings restated a “sell (e+)” rating on shares of Quince Therapeutics in a report on Monday, December 29th. D. Boral Capital raised their price objective on Quince Therapeutics from $4.00 to $5.00 and gave the stock a “buy” rating in a report on Monday, December 15th. Finally, Citigroup reissued a “market outperform” rating on shares of Quince Therapeutics in a report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $8.00.

Institutional Investors Weigh In On Quince Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Bridgeway Capital Management LLC boosted its stake in Quince Therapeutics by 20.9% during the 2nd quarter. Bridgeway Capital Management LLC now owns 128,617 shares of the company’s stock valued at $212,000 after purchasing an additional 22,200 shares during the period. XTX Topco Ltd bought a new position in Quince Therapeutics in the 2nd quarter worth approximately $37,000. GSA Capital Partners LLP grew its holdings in Quince Therapeutics by 158.0% in the 3rd quarter. GSA Capital Partners LLP now owns 87,235 shares of the company’s stock worth $142,000 after buying an additional 53,417 shares in the last quarter. Union Square Park Capital Management LLC increased its position in Quince Therapeutics by 86.0% in the 3rd quarter. Union Square Park Capital Management LLC now owns 224,746 shares of the company’s stock valued at $366,000 after acquiring an additional 103,889 shares during the period. Finally, Rockefeller Capital Management L.P. bought a new stake in Quince Therapeutics during the 2nd quarter valued at $280,000. 30.75% of the stock is currently owned by institutional investors.

Quince Therapeutics Stock Performance

QNCX traded up $0.63 on Friday, hitting $3.51. 743,656 shares of the company were exchanged, compared to its average volume of 992,725. The business’s fifty day moving average is $3.04 and its 200 day moving average is $2.16. Quince Therapeutics has a fifty-two week low of $0.72 and a fifty-two week high of $4.55. The firm has a market capitalization of $195.44 million, a P/E ratio of -2.90 and a beta of 1.15.

Quince Therapeutics (NASDAQ:QNCX) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.05). Analysts forecast that Quince Therapeutics will post -1.21 EPS for the current fiscal year.

About Quince Therapeutics

Quince Therapeutics, Inc, a biopharmaceutical company, focuses on acquiring, developing, and commercializing therapeutics for patients with debilitating and rare diseases. The company's lead asset candidature comprises EryDex for the treatment of rare pediatric neurodegenerative disease, including A-T, an inherited autosomal recessive neurodegenerative and immunodeficiency disorder caused by mutations in ATM gene. Its AIDE technology platform, a drug/device combination platform that uses an automated process to encapsulate a drug into a patient's own red blood cells, as well as consists of an automated equipment the RCL, a sterile single-use consumable treatment kit comprising EryKit, Syringe Kit, drugs, and process solutions.