Qualigen Therapeutics Target of Unusually Large Options Trading (NASDAQ:QLGN)

Qualigen Therapeutics, Inc. (NASDAQ:QLGN) was the target of unusually large options trading activity on Monday. Stock traders purchased 2,355 call options on the stock. This is an increase of 1,083% compared to the typical daily volume of 199 call options.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Qualigen Therapeutics by 239.9% during the second quarter. Vanguard Group Inc. now owns 1,023,911 shares of the company’s stock valued at $2,037,000 after buying an additional 722,716 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Qualigen Therapeutics during the second quarter valued at approximately $227,000. Price T Rowe Associates Inc. MD acquired a new position in Qualigen Therapeutics during the first quarter valued at approximately $290,000. State Street Corp acquired a new position in Qualigen Therapeutics during the second quarter valued at approximately $208,000. Finally, Franklin Resources Inc. purchased a new stake in shares of Qualigen Therapeutics during the third quarter valued at approximately $107,000. 8.66% of the stock is currently owned by institutional investors and hedge funds.

Separately, Alliance Global Partners decreased their target price on shares of Qualigen Therapeutics from $9.50 to $6.50 and set a “buy” rating on the stock in a research report on Friday, September 3rd.

Shares of QLGN traded up $0.25 during mid-day trading on Monday, hitting $1.25. The company had a trading volume of 41,136,929 shares, compared to its average volume of 946,999. The business has a 50-day moving average of $1.28. Qualigen Therapeutics has a 1-year low of $0.93 and a 1-year high of $4.66.

Qualigen Therapeutics (NASDAQ:QLGN) last released its earnings results on Monday, November 15th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.10. The company had revenue of $1.16 million during the quarter, compared to analyst estimates of $1.50 million.

Qualigen Therapeutics Company Profile

Qualigen Therapeutics, Inc is a biotechnology company focused on developing therapeutics for the treatment of cancer and infectious diseases. The company’s cancer therapeutics pipeline includes ALAN (AS1411-GNP), RAS-F3 and STARS™. ALAN (AS1411-GNP) is a DNA coated gold nanoparticle cancer drug candidate that has the potential to target various types of cancer with minimal side effects.

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