Traders Purchase Large Volume of Quince Therapeutics Call Options (NASDAQ:QNCX)

Quince Therapeutics, Inc. (NASDAQ:QNCX) was the recipient of unusually large options trading on Wednesday. Stock investors acquired 28,800 call options on the company. This represents an increase of 1,366% compared to the typical daily volume of 1,964 call options.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Citigroup downgraded shares of Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a research report on Friday, January 30th. Citizens Jmp cut shares of Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a research report on Friday, January 30th. Brookline Capital Acquisition lowered shares of Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 29th. D. Boral Capital cut Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. Finally, Lucid Cap Mkts lowered Quince Therapeutics from a “strong-buy” rating to a “strong sell” rating in a research report on Friday, January 30th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $8.00.

Quince Therapeutics Stock Performance

Shares of NASDAQ QNCX traded up $0.24 during midday trading on Wednesday, reaching $0.77. The stock had a trading volume of 670,782,865 shares, compared to its average volume of 84,099,734. The company has a market capitalization of $42.71 million, a price-to-earnings ratio of -0.64 and a beta of 1.22. Quince Therapeutics has a 12-month low of $0.13 and a 12-month high of $4.55. The stock has a 50-day moving average of $2.83 and a 200-day moving average of $2.17.

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

Institutional Investors Weigh In On Quince Therapeutics

A number of hedge funds have recently made changes to their positions in QNCX. Rockefeller Capital Management L.P. purchased a new position in Quince Therapeutics during the 2nd quarter valued at approximately $280,000. Nantahala Capital Management LLC boosted its position in shares of Quince Therapeutics by 21.6% during the 3rd quarter. Nantahala Capital Management LLC now owns 3,073,729 shares of the company’s stock valued at $5,010,000 after acquiring an additional 545,427 shares during the last quarter. GSA Capital Partners LLP boosted its position in shares of Quince Therapeutics by 158.0% during the 3rd quarter. GSA Capital Partners LLP now owns 87,235 shares of the company’s stock valued at $142,000 after acquiring an additional 53,417 shares during the last quarter. Union Square Park Capital Management LLC increased its position in Quince Therapeutics by 86.0% in the third quarter. Union Square Park Capital Management LLC now owns 224,746 shares of the company’s stock worth $366,000 after purchasing an additional 103,889 shares during the last quarter. Finally, Intellectus Partners LLC purchased a new stake in Quince Therapeutics during the fourth quarter valued at $179,000. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

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.