Short Interest in Quince Therapeutics, Inc. (NASDAQ:QNCX) Decreases By 33.5%

Quince Therapeutics, Inc. (NASDAQ:QNCX) was the target of a significant decline in short interest in March. As of March 15th, there was short interest totalling 1,690,000 shares, a decline of 33.5% from the February 28th total of 2,540,000 shares. Based on an average daily volume of 128,100 shares, the short-interest ratio is currently 13.2 days. Approximately 5.2% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Two Sigma Investments LP acquired a new position in Quince Therapeutics in the 4th quarter valued at approximately $57,000. Shay Capital LLC grew its stake in shares of Quince Therapeutics by 60.8% in the fourth quarter. Shay Capital LLC now owns 276,799 shares of the company’s stock worth $518,000 after purchasing an additional 104,616 shares during the last quarter. Northern Trust Corp increased its holdings in Quince Therapeutics by 48.5% in the fourth quarter. Northern Trust Corp now owns 50,524 shares of the company’s stock valued at $94,000 after purchasing an additional 16,501 shares during the period. Geode Capital Management LLC raised its position in Quince Therapeutics by 10.9% during the 4th quarter. Geode Capital Management LLC now owns 375,932 shares of the company’s stock worth $703,000 after purchasing an additional 36,807 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in Quince Therapeutics during the 4th quarter worth about $55,000. Institutional investors own 30.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Oppenheimer started coverage on Quince Therapeutics in a report on Monday, March 24th. They issued an “outperform” rating and a $10.00 target price on the stock. Brookline Capital Management started coverage on Quince Therapeutics in a research note on Wednesday, December 18th. They issued a “buy” rating and a $9.00 price objective on the stock. Finally, D. Boral Capital decreased their target price on Quince Therapeutics from $12.00 to $4.00 and set a “buy” rating on the stock in a research report on Tuesday, March 25th. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Quince Therapeutics currently has an average rating of “Buy” and an average price target of $8.00.

Quince Therapeutics Price Performance

Shares of QNCX traded down $0.02 during trading hours on Monday, reaching $1.33. The stock had a trading volume of 133,951 shares, compared to its average volume of 244,347. The company has a debt-to-equity ratio of 0.33, a quick ratio of 9.53 and a current ratio of 9.53. Quince Therapeutics has a 12 month low of $0.51 and a 12 month high of $2.45. The stock has a market capitalization of $58.52 million, a PE ratio of -1.07 and a beta of 0.71. The company’s 50-day moving average is $1.47 and its two-hundred day moving average is $1.46.

Quince Therapeutics (NASDAQ:QNCX) last posted its earnings results on Monday, March 24th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.09). The business had revenue of $0.17 million during the quarter. Research analysts expect that Quince Therapeutics will post -1.21 EPS 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.