Quince Therapeutics, Inc. (NASDAQ:QNCX) Sees Significant Growth in Short Interest

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

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Citigroup reaffirmed a “market outperform” rating on shares of Quince Therapeutics in a research note on Tuesday, January 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Quince Therapeutics in a research report on Monday, December 29th. Finally, D. Boral Capital boosted their target price on Quince Therapeutics from $4.00 to $5.00 and gave the stock a “buy” rating in a research note on Monday, December 15th. One investment 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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.00.

Quince Therapeutics Stock Up 23.3%

Shares of QNCX stock traded up $0.67 during trading hours on Friday, 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 fifty-two week low of $0.72 and a fifty-two week high of $4.55. The firm has a 50 day moving average of $3.08 and a two-hundred day moving average of $2.19. The firm has a market cap of $197.66 million, a P/E ratio of -2.93 and a beta of 1.15.

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 analysts’ consensus estimates of ($0.20) by ($0.05). On average, equities analysts forecast that Quince Therapeutics will post -1.21 earnings per share for the current fiscal year.

Institutional Trading of Quince Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Nantahala Capital Management LLC purchased a new position in shares of Quince Therapeutics during the second quarter worth $4,172,000. Millennium Management LLC lifted its holdings in Quince Therapeutics by 1,152.9% during the 3rd quarter. Millennium Management LLC now owns 1,386,776 shares of the company’s stock worth $2,260,000 after buying an additional 1,276,094 shares in the last quarter. ADAR1 Capital Management LLC lifted its holdings in Quince Therapeutics by 442.1% during the 3rd quarter. ADAR1 Capital Management LLC now owns 775,034 shares of the company’s stock worth $1,263,000 after buying an additional 632,076 shares in the last quarter. Almitas Capital LLC purchased a new position in Quince Therapeutics in the 3rd quarter valued at approximately $806,000. Finally, Vanguard Group Inc. grew its stake in shares of Quince Therapeutics by 21.3% in the third quarter. Vanguard Group Inc. now owns 1,763,387 shares of the company’s stock worth $2,874,000 after acquiring an additional 309,349 shares in the last quarter. 30.75% of the stock is owned by institutional investors and hedge funds.

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.