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

Quince Therapeutics, Inc. (NASDAQ:QNCX) was the target of a large growth in short interest during the month of December. As of December 15th, there was short interest totaling 2,064,545 shares, a growth of 33.0% from the November 30th total of 1,551,992 shares. Based on an average daily volume of 1,208,667 shares, the short-interest ratio is currently 1.7 days. Currently, 4.5% of the shares of the stock are short sold. Currently, 4.5% of the shares of the stock are short sold. Based on an average daily volume of 1,208,667 shares, the short-interest ratio is currently 1.7 days.

Institutional Trading of Quince Therapeutics

Several large investors have recently added to or reduced their stakes in the company. Nantahala Capital Management LLC acquired a new stake in Quince Therapeutics in the 2nd quarter valued at $4,172,000. Millennium Management LLC increased its position in Quince Therapeutics by 1,152.9% during the third quarter. Millennium Management LLC now owns 1,386,776 shares of the company’s stock worth $2,260,000 after purchasing an additional 1,276,094 shares during the last quarter. Ieq Capital LLC purchased a new stake in shares of Quince Therapeutics during the 1st quarter valued at approximately $1,073,000. ADAR1 Capital Management LLC grew its holdings in shares of 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 purchasing an additional 632,076 shares during the period. Finally, Almitas Capital LLC purchased a new position in Quince Therapeutics during the third quarter worth about $806,000. Hedge funds and other institutional investors own 30.75% of the company’s stock.

Quince Therapeutics Price Performance

Shares of QNCX traded down $0.14 during mid-day trading on Tuesday, reaching $3.26. 506,952 shares of the company’s stock traded hands, compared to its average volume of 341,346. The stock’s 50-day moving average is $2.71 and its two-hundred day moving average is $2.03. The stock has a market cap of $181.52 million, a P/E ratio of -2.69 and a beta of 1.02. Quince Therapeutics has a 12 month low of $0.72 and a 12 month high of $4.55.

Quince Therapeutics (NASDAQ:QNCX) last posted its quarterly 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). Research analysts predict that Quince Therapeutics will post -1.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on QNCX shares. Weiss Ratings restated a “sell (e+)” rating on shares of Quince Therapeutics in a report on Monday. D. Boral Capital raised their target price on shares of Quince Therapeutics from $4.00 to $5.00 and gave the company a “buy” rating in a report on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Quince Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $8.00.

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.