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

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

Hedge Funds Weigh In On Quince Therapeutics

A number of large investors have recently modified their holdings of the business. Bridgeway Capital Management LLC raised its holdings 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 acquiring an additional 22,200 shares in the last quarter. XTX Topco Ltd bought a new position in Quince Therapeutics in the second quarter valued at approximately $37,000. Intellectus Partners LLC acquired a new position in shares of Quince Therapeutics during the 4th quarter worth approximately $179,000. Hudson Bay Capital Management LP bought a new stake in shares of Quince Therapeutics during the 4th quarter worth approximately $213,000. Finally, Renaissance Technologies LLC raised its stake in shares of Quince Therapeutics by 14.8% during the 4th quarter. Renaissance Technologies LLC now owns 538,100 shares of the company’s stock worth $1,803,000 after purchasing an additional 69,502 shares in the last quarter. 30.75% of the stock is currently owned by institutional investors and hedge funds.

Quince Therapeutics Stock Performance

NASDAQ:QNCX traded up $0.58 during trading hours on Tuesday, hitting $18.43. The stock had a trading volume of 15,672 shares, compared to its average volume of 254,855. The business’s 50 day moving average is $19.36 and its 200-day moving average is $91.81. The company has a market cap of $18.07 million, a price-to-earnings ratio of -0.09 and a beta of 1.40. Quince Therapeutics has a one year low of $15.10 and a one year high of $909.98.

Quince Therapeutics (NASDAQ:QNCX) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.59) earnings per share for the quarter, beating the consensus estimate of ($26.00) by $25.41. On average, sell-side analysts anticipate that Quince Therapeutics will post -0.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on QNCX shares. Lifesci Capital raised shares of Quince Therapeutics to a “strong-buy” rating in a research note on Monday, June 29th. Weiss Ratings cut shares of Quince Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, May 1st. Zacks Research upgraded Quince Therapeutics to a “hold” rating in a research report on Wednesday, June 24th. Leerink Partners assumed coverage on Quince Therapeutics in a research report on Wednesday, June 24th. They issued an “outperform” rating and a $80.00 price objective for the company. Finally, Cantor Fitzgerald started coverage on Quince Therapeutics in a research note on Tuesday, June 23rd. They issued an “overweight” rating and a $80.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Quince Therapeutics has a consensus rating of “Hold” and an average price target of $690.00.

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.