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

Quince Therapeutics, Inc. (NASDAQ:QNCX) was the target of a large decline in short interest in July. As of July 15th, there was short interest totaling 50,574 shares, a decline of 55.2% from the June 30th total of 112,788 shares. Based on an average trading volume of 42,759 shares, the short-interest ratio is currently 1.2 days. Approximately 5.6% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Wall Street Zen raised shares of Quince Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Oppenheimer initiated coverage on Quince Therapeutics in a research note on Wednesday. They issued an “outperform” rating and a $82.00 price target on the stock. Cantor Fitzgerald began coverage on Quince Therapeutics in a research report on Tuesday, June 23rd. They issued an “overweight” rating and a $80.00 price target on the stock. Zacks Research upgraded Quince Therapeutics to a “hold” rating in a research note on Wednesday, June 24th. Finally, Lifesci Capital raised Quince Therapeutics to a “strong-buy” rating in a report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $568.40.

Quince Therapeutics Stock Performance

Quince Therapeutics stock traded up $2.63 during trading hours on Wednesday, reaching $22.00. 80,389 shares of the company’s stock traded hands, compared to its average volume of 253,803. Quince Therapeutics has a fifty-two week low of $15.10 and a fifty-two week high of $909.98. The firm has a market capitalization of $21.56 million, a price-to-earnings ratio of -0.10 and a beta of 1.40. The firm’s 50 day moving average is $19.32 and its 200-day moving average is $87.85.

Quince Therapeutics (NASDAQ:QNCX) last issued its earnings results on Monday, May 11th. The company reported ($0.59) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($26.00) by $25.41. Analysts predict that Quince Therapeutics will post -0.96 EPS for the current year.

Hedge Funds Weigh In On Quince Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bridgeway Capital Management LLC grew its holdings in shares of Quince Therapeutics by 20.9% in the 2nd quarter. Bridgeway Capital Management LLC now owns 128,617 shares of the company’s stock valued at $212,000 after buying an additional 22,200 shares during the period. XTX Topco Ltd acquired a new stake in Quince Therapeutics during the 2nd quarter worth $37,000. Intellectus Partners LLC acquired a new stake in Quince Therapeutics during the 4th quarter worth $179,000. Hudson Bay Capital Management LP bought a new position in Quince Therapeutics during the fourth quarter worth about $213,000. Finally, Renaissance Technologies LLC lifted its holdings in Quince Therapeutics by 14.8% during the fourth quarter. Renaissance Technologies LLC now owns 538,100 shares of the company’s stock worth $1,803,000 after acquiring an additional 69,502 shares in the last quarter. 30.75% of the stock is owned by institutional investors.

Quince Therapeutics Company Profile

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.