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

Quince Therapeutics, Inc. (NASDAQ:QNCX) was the target of some unusual options trading on Wednesday. Investors purchased 7,939 call options on the stock. This is an increase of approximately 83% compared to the typical volume of 4,327 call options.

Quince Therapeutics Stock Performance

QNCX opened at $0.18 on Thursday. Quince Therapeutics has a fifty-two week low of $0.08 and a fifty-two week high of $4.55. The company has a market capitalization of $10.20 million, a P/E ratio of -0.15 and a beta of 1.33. The stock has a fifty day moving average of $0.15 and a 200-day moving average of $1.74.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on QNCX. D. Boral Capital downgraded Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Quince Therapeutics in a report on Monday, December 29th. Maxim Group downgraded Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Citigroup downgraded Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a report on Friday, January 30th. Finally, Citizens Jmp downgraded Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a report on Friday, January 30th. Five equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $6.50.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. OMERS ADMINISTRATION Corp bought a new position in shares of Quince Therapeutics in the fourth quarter worth $308,000. Marshall Wace LLP increased its position in shares of Quince Therapeutics by 143.7% in the fourth quarter. Marshall Wace LLP now owns 511,858 shares of the company’s stock worth $1,715,000 after purchasing an additional 301,813 shares during the period. Hudson Bay Capital Management LP bought a new position in shares of Quince Therapeutics in the fourth quarter worth $213,000. Cerity Partners LLC bought a new position in shares of Quince Therapeutics in the fourth quarter worth $636,000. Finally, Goldman Sachs Group Inc. bought a new position in shares of Quince Therapeutics in the fourth quarter worth $769,000. Institutional investors own 30.75% of the company’s stock.

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.