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

Quince Therapeutics, Inc. (NASDAQ:QNCX) saw a significant increase in short interest in December. As of December 31st, there was short interest totaling 2,617,907 shares, an increase of 26.8% from the December 15th total of 2,064,545 shares. Approximately 5.7% of the company’s shares are short sold. Based on an average trading volume of 500,623 shares, the short-interest ratio is currently 5.2 days. Based on an average trading volume of 500,623 shares, the short-interest ratio is currently 5.2 days. Approximately 5.7% of the company’s shares are short sold.

Institutional Investors Weigh In On Quince Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd purchased a new position in Quince Therapeutics in the second quarter valued at about $37,000. GSA Capital Partners LLP raised its stake in shares of Quince Therapeutics by 158.0% during the 3rd quarter. GSA Capital Partners LLP now owns 87,235 shares of the company’s stock worth $142,000 after acquiring an additional 53,417 shares in the last quarter. Bridgeway Capital Management LLC raised its stake in shares of Quince Therapeutics by 20.9% during the 2nd 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. Rockefeller Capital Management L.P. purchased a new stake in Quince Therapeutics during the second quarter valued at approximately $280,000. Finally, Union Square Park Capital Management LLC lifted its position 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 valued at $366,000 after acquiring an additional 103,889 shares during the last quarter. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Quince Therapeutics in a research report on Monday, December 29th. D. Boral Capital upped their price target 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. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Quince Therapeutics in a research note on Tuesday, January 6th. One equities research 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 assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $8.00.

Quince Therapeutics Stock Performance

NASDAQ QNCX opened at $3.47 on Tuesday. The company’s 50-day simple moving average is $3.12 and its two-hundred day simple moving average is $2.20. Quince Therapeutics has a one year low of $0.72 and a one year high of $4.55. The company has a market capitalization of $193.27 million, a price-to-earnings ratio of -2.78 and a beta of 1.15.

Quince Therapeutics (NASDAQ:QNCX) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.05). Equities analysts expect that Quince Therapeutics will post -1.21 earnings per share 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.