Quince Therapeutics, Inc. (NASDAQ:QNCX) stock is up during Tuesday’s premarket session as the company has engaged LifeSci Capital to serve as its exclusive financial advisor.
The penny stock is trading higher on a robust session volume of 29.84 million versus the average volume of 2.92 million, according to Benzinga Pro data.
QNCX Engages LifeSci for Strategic Alternatives
Quince Therapeutics announced that it has engaged LifeSci Capital to explore strategic alternatives aimed at maximizing shareholder value. This includes potential partnerships, joint ventures, and restructuring of the company’s liabilities, indicating a proactive approach to navigating its current challenges.
QNCX Faces Significant Trading Weakness
Currently, Quince Therapeutics is trading 89.6% below its 20-day simple moving average (SMA) and 91.2% below its 100-day SMA, indicating significant weakness in the short to medium term. Over the past 12 months, shares have decreased by 90.91%, and they are positioned closer to their 52-week lows than highs, reflecting ongoing challenges for the company.
The RSI is at 22.15, indicating that the stock is in oversold territory, which could suggest a potential for a rebound if buying interest increases. Meanwhile, the MACD is below its signal line, reinforcing the bearish pressure on the stock.
The combination of oversold RSI and bearish MACD suggests mixed momentum, indicating that while the stock may be undervalued, the overall trend remains negative.
Analyst Consensus & Recent Actions:
The stock carries a Buy Rating. Recent analyst moves include:
- Citizens: Downgraded to Market Perform (Jan. 30)
- D. Boral Capital: Downgraded to Hold (Jan. 30)
QNCX Surges 54.15% in Premarket Trading
QNCX Price Action: Quince Therapeutics shares were up 54.15% at $0.20 during premarket trading on Tuesday, according to Benzinga Pro data.
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