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

Quince Therapeutics, Inc. (NASDAQ:QNCX) was the target of a significant 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. Approximately 4.5% of the company’s shares are sold short. Based on an average daily volume of 1,208,667 shares, the short-interest ratio is currently 1.7 days. Based on an average daily volume of 1,208,667 shares, the short-interest ratio is currently 1.7 days. Approximately 4.5% of the company’s shares are sold short.

Institutional Trading of Quince Therapeutics

A number of large investors have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. purchased a new position in Quince Therapeutics in the 2nd quarter worth approximately $280,000. Ieq Capital LLC purchased a new position in shares of Quince Therapeutics in the first quarter worth $1,073,000. Nantahala Capital Management LLC boosted its position in shares of Quince Therapeutics by 21.6% during the third quarter. Nantahala Capital Management LLC now owns 3,073,729 shares of the company’s stock worth $5,010,000 after acquiring an additional 545,427 shares during the last quarter. Vanguard Group Inc. boosted 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. Finally, Millennium Management LLC grew its stake 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 valued at $2,260,000 after acquiring an additional 1,276,094 shares in the last quarter. 30.75% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Quince Therapeutics Price Performance

QNCX stock traded down $0.14 during midday trading on Tuesday, hitting $3.26. The stock had a trading volume of 506,952 shares, compared to its average volume of 341,346. The business has a 50-day moving average of $2.71 and a two-hundred day moving average of $2.03. The firm has a market cap of $181.52 million, a price-to-earnings ratio of -2.69 and a beta of 1.02. Quince Therapeutics has a 52-week low of $0.72 and a 52-week high of $4.55.

Quince Therapeutics (NASDAQ:QNCX) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.05). Research analysts predict 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.