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

Quince Therapeutics, Inc. (NASDAQ:QNCX) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totaling 13,826,556 shares, an increase of 24.0% from the March 15th total of 11,153,033 shares. Approximately 31.2% of the shares of the company are short sold. Based on an average daily trading volume, of 27,231,626 shares, the short-interest ratio is currently 0.5 days.

Institutional Trading of Quince Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. XTX Topco Ltd purchased a new position in Quince Therapeutics in the 2nd quarter worth $37,000. Intellectus Partners LLC purchased a new position in Quince Therapeutics in the 4th quarter worth $179,000. Hudson Bay Capital Management LP purchased a new position in Quince Therapeutics in the 4th quarter worth $213,000. Quadrature Capital Ltd purchased a new position in Quince Therapeutics in the 4th quarter worth $268,000. Finally, GSA Capital Partners LLP raised its position in Quince Therapeutics by 158.0% in the 3rd quarter. GSA Capital Partners LLP now owns 87,235 shares of the company’s stock worth $142,000 after purchasing an additional 53,417 shares during the period. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on QNCX. Citizens Jmp downgraded shares of Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a report on Friday, January 30th. downgraded shares of Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 29th. Maxim Group downgraded shares of Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Quince Therapeutics in a report on Monday, December 29th. Finally, D. Boral Capital downgraded shares of Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Five analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Quince Therapeutics currently has an average rating of “Reduce” and an average price target of $65.00.

Quince Therapeutics Stock Performance

NASDAQ QNCX traded up $0.13 on Thursday, hitting $1.36. The stock had a trading volume of 2,767,965 shares, compared to its average volume of 8,906,854. Quince Therapeutics has a 52-week low of $0.80 and a 52-week high of $45.50. The company has a market capitalization of $7.54 million, a price-to-earnings ratio of -0.08 and a beta of 1.33. The firm has a 50-day moving average of $1.42 and a 200-day moving average of $16.86.

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.