Quince Therapeutics, Inc. (NASDAQ:QNCX) Short Interest Up 451.1% in February

Quince Therapeutics, Inc. (NASDAQ:QNCX) was the recipient of a significant increase in short interest during the month of February. As of February 13th, there was short interest totaling 10,338,418 shares, an increase of 451.1% from the January 29th total of 1,875,868 shares. Based on an average daily volume of 284,154,407 shares, the short-interest ratio is currently 0.0 days. Currently, 22.3% of the shares of the company are short sold. Currently, 22.3% of the shares of the company are short sold. Based on an average daily volume of 284,154,407 shares, the short-interest ratio is currently 0.0 days.

Quince Therapeutics Price Performance

Quince Therapeutics stock traded down $0.01 during mid-day trading on Wednesday, reaching $0.13. 143,831,130 shares of the company were exchanged, compared to its average volume of 80,220,056. The company has a fifty day simple moving average of $2.02 and a 200-day simple moving average of $2.06. Quince Therapeutics has a 12 month low of $0.13 and a 12 month high of $4.55. The firm has a market cap of $7.35 million, a PE ratio of -0.11 and a beta of 1.22.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Rockefeller Capital Management L.P. bought a new stake in Quince Therapeutics during the second quarter worth about $280,000. XTX Topco Ltd bought a new position in Quince Therapeutics in the 2nd quarter valued at about $37,000. Nantahala Capital Management LLC acquired a new position in shares of Quince Therapeutics in the 2nd quarter valued at approximately $4,172,000. Bridgeway Capital Management LLC raised its position 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 in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of 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 acquiring an additional 309,349 shares during the period. Institutional investors own 30.75% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on QNCX. Lucid Cap Mkts cut shares of Quince Therapeutics from a “strong-buy” rating to a “strong sell” rating in a research note on Friday, January 30th. Citigroup downgraded Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a research report on Friday, January 30th. Citizens Jmp cut Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a report on Friday, January 30th. D. Boral Capital downgraded Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Finally, Brookline Capital Acquisition cut Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 29th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $7.67.

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.