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

Quince Therapeutics, Inc. (NASDAQ:QNCX) saw a significant growth in short interest in March. As of March 13th, there was short interest totaling 11,153,033 shares, a growth of 34.4% from the February 26th total of 8,298,192 shares. Based on an average trading volume of 47,078,857 shares, the short-interest ratio is presently 0.2 days. Currently, 24.1% of the company’s stock are sold short.

Institutional Investors Weigh In On Quince Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Rockefeller Capital Management L.P. acquired a new stake in Quince Therapeutics in the 2nd quarter valued at $280,000. Almitas Capital LLC raised its holdings in Quince Therapeutics by 88.0% during the fourth quarter. Almitas Capital LLC now owns 930,134 shares of the company’s stock worth $3,116,000 after buying an additional 435,356 shares during the last quarter. Marshall Wace LLP raised its holdings in Quince Therapeutics by 143.7% during the fourth quarter. Marshall Wace LLP now owns 511,858 shares of the company’s stock worth $1,715,000 after buying an additional 301,813 shares during the last quarter. ADAR1 Capital Management LLC lifted its stake in shares of Quince Therapeutics by 442.1% in the third quarter. ADAR1 Capital Management LLC now owns 775,034 shares of the company’s stock valued at $1,263,000 after buying an additional 632,076 shares in the last quarter. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Quince Therapeutics during the fourth quarter valued at about $769,000. Institutional investors own 30.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Lucid Cap Mkts cut shares of Quince Therapeutics from a “strong-buy” rating to a “strong sell” rating in a report on Friday, January 30th. Citizens Jmp lowered shares of Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a research note on Friday, January 30th. Citigroup 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 research report on Thursday, January 29th. Finally, D. Boral Capital lowered shares of Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. Five equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Quince Therapeutics currently has an average rating of “Reduce” and a consensus target price of $6.50.

Quince Therapeutics Trading Up 15.6%

NASDAQ QNCX opened at $0.10 on Tuesday. Quince Therapeutics has a 12 month low of $0.08 and a 12 month high of $4.55. The firm has a market capitalization of $5.64 million, a PE ratio of -0.08 and a beta of 1.28. The business’s 50-day moving average price is $0.58 and its two-hundred day moving average price is $1.81.

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.