Quince Therapeutics Sees Unusually High Options Volume (NASDAQ:QNCX)

Quince Therapeutics, Inc. (NASDAQ:QNCX) was the recipient of some unusual options trading on Friday. Investors bought 3,663 call options on the company. This represents an increase of approximately 273% compared to the typical daily volume of 983 call options.

Hedge Funds Weigh In On Quince Therapeutics

A number of hedge funds have recently made changes to their positions in the business. XTX Topco Ltd bought a new position in Quince Therapeutics during the 2nd quarter valued at $37,000. GSA Capital Partners LLP grew its stake in Quince Therapeutics by 158.0% in the third quarter. GSA Capital Partners LLP now owns 87,235 shares of the company’s stock worth $142,000 after purchasing an additional 53,417 shares in the last quarter. Bridgeway Capital Management LLC raised its stake in Quince Therapeutics by 20.9% during the second quarter. Bridgeway Capital Management LLC now owns 128,617 shares of the company’s stock valued at $212,000 after buying an additional 22,200 shares in the last quarter. Rockefeller Capital Management L.P. bought a new position in Quince Therapeutics during the 2nd quarter worth approximately $280,000. Finally, Union Square Park Capital Management LLC lifted its stake in Quince Therapeutics by 86.0% during 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. Hedge funds and other institutional investors own 30.75% of the company’s stock.

Quince Therapeutics Price Performance

Shares of NASDAQ:QNCX opened at $3.55 on Friday. The firm has a market capitalization of $197.66 million, a PE ratio of -2.93 and a beta of 1.15. The business has a 50-day moving average of $3.08 and a two-hundred day moving average of $2.18. Quince Therapeutics has a 12 month low of $0.72 and a 12 month high of $4.55.

Quince Therapeutics (NASDAQ:QNCX) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.05). As a group, research analysts anticipate that Quince Therapeutics will post -1.21 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Citigroup reissued a “market outperform” rating on shares of Quince Therapeutics in a research note on Tuesday, January 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Quince Therapeutics in a report on Monday, December 29th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Quince Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $8.00.

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.