Stock traders buy large volume of put options on DICE Therapeutics (NASDAQ:DICE)

DICE Therapeutics, Inc. (NASDAQ:DICE – Get Rating) was the target of unusual options trading activity on Tuesday. Investors bought 10,064 put options on the company. This is a 960% increase from the average daily volume of 949 put options.

Performance of DICE Therapeutics shares

DICE shares were down $0.75 during trading hours on Tuesday, hitting $19.33. 8,758 shares were traded, against an average volume of 594,920. DICE Therapeutics has a 12-month low of $12.64 and a 12-month high of $38.18. The company has a market cap of $738.60 million and a price-earnings ratio of -5.10. The stock’s 50-day moving average price is $18.68 and its two-hundred-day moving average price is $17.76.

Hedge funds weigh on DICE Therapeutics

Several large investors have recently changed their DICE holdings. Northpond Ventures LLC acquired a new stake in DICE Therapeutics in Q4, valued at approximately $83,343,000. Price T Rowe Associates Inc. MD increased its position in DICE Therapeutics by 12.6% in Q2. Price T Rowe Associates Inc. MD now owns 2,414,624 shares of the company valued at $37,475,000 after purchasing an additional 270,940 shares last quarter. Driehaus Capital Management LLC increased its position in DICE Therapeutics by 5.0% in Q2. Driehaus Capital Management LLC now owns 2,230,538 shares of the company valued at $34,618,000 after purchasing an additional 105,310 shares last quarter. FMR LLC increased its position in DICE Therapeutics by 460.0% in the 2nd quarter. FMR LLC now owns 1,910,328 shares of the company valued at $29,648,000 after purchasing an additional 1,569,206 shares in the last quarter. Finally, Citadel Advisors LLC increased its position in DICE Therapeutics by 710.5% in the 2nd quarter. Citadel Advisors LLC now owns 923,849 shares of the company valued at $14,338,000 after purchasing an additional 809,864 shares last quarter. Institutional investors and hedge funds own 95.42% of the company’s shares.

Analyst upgrades and downgrades

DICE has been the subject of several research reports. Stifel Nicolaus launched coverage on DICE Therapeutics in a research report on Tuesday, September 6. They set a “buy” rating and a target price of $37.00 for the company. HC Wainwright began coverage of DICE Therapeutics in a research report on Monday, July 18. They set a “buy” rating and a target price of $40.00 for the business. Finally, Cantor Fitzgerald threw coverage on DICE Therapeutics in a Wednesday, September 14 research note. They set an “overweight” rating and a price target of $36.00 on the stock. Six research analysts have rated the stock with a buy rating. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $43.33.

About DICE Therapeutics

(Get a rating)

DICE Therapeutics, Inc, a biopharmaceutical company, constructs various oral therapeutic candidates to treat chronic diseases in immunology and other therapeutic areas. Its DELSCAPE platform is designed to discover selective oral small molecules to modulate protein-protein interactions (PPIs) as effectively as systemic biologics.

Further reading

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