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

Quince Therapeutics, Inc. (NASDAQ:QNCX) was the target of unusually large options trading activity on Wednesday. Traders acquired 28,800 call options on the stock. This is an increase of approximately 1,366% compared to the typical daily volume of 1,964 call options.

Institutional Investors Weigh In On Quince Therapeutics

Several institutional investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. bought a new position in Quince Therapeutics in the second quarter valued at approximately $280,000. Intellectus Partners LLC acquired a new position in shares of Quince Therapeutics in the 4th quarter valued at $179,000. Jane Street Group LLC boosted its position in shares of Quince Therapeutics by 1,382.0% in the 4th quarter. Jane Street Group LLC now owns 521,072 shares of the company’s stock worth $1,746,000 after purchasing an additional 485,912 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Quince Therapeutics by 14.8% in the 4th quarter. Renaissance Technologies LLC now owns 538,100 shares of the company’s stock worth $1,803,000 after purchasing an additional 69,502 shares during the last quarter. Finally, Cerity Partners LLC acquired a new stake in shares of Quince Therapeutics during the fourth quarter worth $636,000. Institutional investors and hedge funds own 30.75% of the company’s stock.

Quince Therapeutics Stock Performance

NASDAQ:QNCX opened at $0.23 on Friday. The company has a market cap of $12.56 million, a price-to-earnings ratio of -0.19 and a beta of 1.22. The stock’s fifty day moving average price is $2.70 and its two-hundred day moving average price is $2.15. Quince Therapeutics has a 52-week low of $0.13 and a 52-week high of $4.55.

Quince Therapeutics (NASDAQ:QNCX) last released 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). On average, equities analysts predict that Quince Therapeutics will post -1.21 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on the stock. D. Boral Capital cut shares of Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Weiss Ratings reissued a “sell (e+)” rating on shares of Quince Therapeutics in a report on Monday, December 29th. Maxim Group lowered Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. Citizens Jmp downgraded Quince Therapeutics from a “market outperform” rating to a “market perform” 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 note on Friday, January 30th. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.00.

Quince Therapeutics Company Profile

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.