Quince Therapeutics, Inc. (NASDAQ:QNCX) Short Interest Update

Quince Therapeutics, Inc. (NASDAQ:QNCX) was the target of a large increase in short interest in December. As of December 31st, there was short interest totaling 2,617,907 shares, an increase of 26.8% from the December 15th total of 2,064,545 shares. Based on an average daily trading volume, of 500,623 shares, the short-interest ratio is presently 5.2 days. Approximately 5.7% of the shares of the stock are short sold. Approximately 5.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 500,623 shares, the short-interest ratio is presently 5.2 days.

Wall Street Analysts Forecast Growth

QNCX has been the topic of several recent analyst reports. Citigroup reaffirmed a “market outperform” rating on shares of Quince Therapeutics in a research note on Tuesday, January 6th. Weiss Ratings restated a “sell (e+)” rating on shares of Quince Therapeutics in a research note on Monday, December 29th. Finally, D. Boral Capital upped their target price on shares of Quince Therapeutics from $4.00 to $5.00 and gave the stock a “buy” rating in a report on Monday, December 15th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $8.00.

Quince Therapeutics Price Performance

Shares of QNCX stock traded up $0.67 during trading hours on Monday, hitting $3.55. 2,853,641 shares of the company’s stock were exchanged, compared to its average volume of 681,337. Quince Therapeutics has a 52 week low of $0.72 and a 52 week high of $4.55. The stock has a market cap of $197.66 million, a price-to-earnings ratio of -2.93 and a beta of 1.15. The stock’s 50-day moving average is $3.08 and its 200-day moving average is $2.19.

Quince Therapeutics (NASDAQ:QNCX) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.05). Equities research analysts forecast that Quince Therapeutics will post -1.21 earnings per share for the current fiscal year.

Institutional Trading of Quince Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Nantahala Capital Management LLC grew its stake in shares of Quince Therapeutics by 21.6% during the third quarter. Nantahala Capital Management LLC now owns 3,073,729 shares of the company’s stock worth $5,010,000 after purchasing an additional 545,427 shares during the period. Vanguard Group Inc. increased its holdings in Quince Therapeutics by 21.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,763,387 shares of the company’s stock worth $2,874,000 after purchasing an additional 309,349 shares in the last quarter. Millennium Management LLC raised its position in Quince Therapeutics by 1,152.9% in the 3rd quarter. Millennium Management LLC now owns 1,386,776 shares of the company’s stock valued at $2,260,000 after buying an additional 1,276,094 shares during the last quarter. ADAR1 Capital Management LLC raised its holdings in shares of Quince Therapeutics by 442.1% in the third quarter. ADAR1 Capital Management LLC now owns 775,034 shares of the company’s stock valued at $1,263,000 after purchasing an additional 632,076 shares during the last quarter. Finally, Almitas Capital LLC bought a new stake in Quince Therapeutics during the 3rd quarter worth about $806,000. Institutional investors and hedge funds 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.