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

Quince Therapeutics, Inc. (NASDAQ:QNCX) was the recipient of a significant 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. Currently, 7.5% of the shares of the company are sold short. Based on an average daily trading volume, of 1,046,808 shares, the short-interest ratio is currently 3.3 days. Based on an average daily trading volume, of 1,046,808 shares, the short-interest ratio is currently 3.3 days. Currently, 7.5% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

QNCX has been the subject of several recent research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Quince Therapeutics in a research report on Monday, December 29th. Maxim Group cut Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. D Boral Capital lowered Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. 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. Finally, D. Boral Capital reissued a “buy” rating and set a $5.00 target price on shares of Quince Therapeutics in a research note on Thursday, January 29th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $8.00.

Institutional Investors Weigh In On Quince Therapeutics

Hedge funds have recently modified their holdings of the stock. Nantahala Capital Management LLC grew its stake in Quince Therapeutics by 21.6% in the third quarter. Nantahala Capital Management LLC now owns 3,073,729 shares of the company’s stock worth $5,010,000 after purchasing an additional 545,427 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Quince Therapeutics by 21.3% during the third quarter. Vanguard Group Inc. now owns 1,763,387 shares of the company’s stock worth $2,874,000 after acquiring an additional 309,349 shares during the last quarter. Millennium Management LLC increased its stake in shares of Quince Therapeutics by 1,152.9% in the third quarter. Millennium Management LLC now owns 1,386,776 shares of the company’s stock valued at $2,260,000 after purchasing an additional 1,276,094 shares during the period. ADAR1 Capital Management LLC raised its stake in Quince Therapeutics by 442.1% during the 3rd quarter. ADAR1 Capital Management LLC now owns 775,034 shares of the company’s stock valued at $1,263,000 after acquiring an additional 632,076 shares in the last quarter. Finally, Almitas Capital LLC acquired a new stake in shares of Quince Therapeutics in the 3rd quarter worth approximately $806,000. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

Quince Therapeutics Trading Down 19.2%

QNCX stock opened at $0.15 on Wednesday. The company’s 50-day moving average price is $3.15 and its 200 day moving average price is $2.23. The company has a market cap of $8.10 million, a P/E ratio of -0.12 and a beta of 1.22. Quince Therapeutics has a 52 week low of $0.14 and a 52 week high of $4.55.

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). On average, equities research analysts expect that Quince Therapeutics will post -1.21 earnings per share for the current year.

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.