Investors 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 volume of 1,964 call options.

Quince Therapeutics Stock Performance

Shares of NASDAQ:QNCX opened at $0.61 on Thursday. Quince Therapeutics has a 52-week low of $0.13 and a 52-week high of $4.55. The business has a 50-day moving average price of $2.77 and a 200-day moving average price of $2.16.

Quince Therapeutics (NASDAQ:QNCX) last issued its quarterly earnings results 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). Analysts forecast that Quince Therapeutics will post -1.21 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on QNCX shares. Citigroup downgraded shares of Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a report on Friday, January 30th. Maxim Group lowered shares of Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. D. Boral Capital downgraded shares of Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Lucid Cap Mkts lowered shares of Quince Therapeutics from a “strong-buy” rating to a “strong sell” rating in a report on Friday, January 30th. Finally, Citizens Jmp lowered Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a report on Friday, January 30th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $8.00.

Hedge Funds Weigh In On Quince Therapeutics

Institutional investors have recently modified their holdings of the stock. Rockefeller Capital Management L.P. purchased a new stake in shares of Quince Therapeutics in the second quarter worth about $280,000. XTX Topco Ltd acquired a new position in Quince Therapeutics in the second quarter valued at approximately $37,000. Nantahala Capital Management LLC purchased a new stake in Quince Therapeutics in the 2nd quarter worth approximately $4,172,000. Bridgeway Capital Management LLC grew its stake in shares of Quince Therapeutics by 20.9% during the 2nd quarter. Bridgeway Capital Management LLC now owns 128,617 shares of the company’s stock worth $212,000 after purchasing an additional 22,200 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Quince Therapeutics by 21.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,763,387 shares of the company’s stock valued at $2,874,000 after purchasing an additional 309,349 shares in the last quarter. Hedge funds and other 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.