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

Quince Therapeutics, Inc. (NASDAQ:QNCX) saw a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 3,454,280 shares, an increase of 31.9% from the December 31st total of 2,617,907 shares. Based on an average daily volume of 1,046,808 shares, the days-to-cover ratio is currently 3.3 days. Currently, 7.5% of the shares of the stock are sold short. Currently, 7.5% of the shares of the stock are sold short. Based on an average daily volume of 1,046,808 shares, the days-to-cover ratio is currently 3.3 days.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on QNCX. Brookline Capital Management downgraded shares of Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 29th. Weiss Ratings restated a “sell (e+)” rating on shares of Quince Therapeutics in a report on Monday, December 29th. Citigroup lowered Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a research report on Friday. D. Boral Capital reiterated a “buy” rating and set a $5.00 price objective on shares of Quince Therapeutics in a research report on Thursday, January 29th. Finally, D Boral Capital cut Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $8.00.

Institutional Investors Weigh In On Quince Therapeutics

A number of institutional investors have recently made changes to their positions in QNCX. XTX Topco Ltd acquired a new position in shares of Quince Therapeutics in the 2nd quarter worth approximately $37,000. GSA Capital Partners LLP raised its position in Quince Therapeutics by 158.0% in the third quarter. GSA Capital Partners LLP now owns 87,235 shares of the company’s stock valued at $142,000 after purchasing an additional 53,417 shares during the period. Bridgeway Capital Management LLC lifted its stake in Quince Therapeutics by 20.9% during the second quarter. Bridgeway Capital Management LLC now owns 128,617 shares of the company’s stock worth $212,000 after purchasing an additional 22,200 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new position in Quince Therapeutics during the 2nd quarter worth about $280,000. Finally, Union Square Park Capital Management LLC increased its stake in Quince Therapeutics by 86.0% during the third quarter. Union Square Park Capital Management LLC now owns 224,746 shares of the company’s stock worth $366,000 after purchasing an additional 103,889 shares during the period. 30.75% of the stock is currently owned by institutional investors and hedge funds.

Quince Therapeutics Trading Down 19.2%

Quince Therapeutics stock traded down $0.03 during mid-day trading on Tuesday, hitting $0.15. The company’s stock had a trading volume of 8,395,782 shares, compared to its average volume of 4,473,011. The stock’s fifty day moving average is $3.20 and its two-hundred day moving average is $2.24. The firm has a market capitalization of $8.10 million, a PE ratio of -0.12 and a beta of 1.23. Quince Therapeutics has a 1 year low of $0.14 and a 1 year high of $4.55.

Quince Therapeutics (NASDAQ:QNCX) last posted its earnings results on Wednesday, November 12th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.05). On average, equities analysts expect that Quince Therapeutics will post -1.21 EPS for the current fiscal year.

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.