Quince Therapeutics, Inc. (NASDAQ:QNCX) Sees Significant Decrease in Short Interest

Quince Therapeutics, Inc. (NASDAQ:QNCX) saw a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 1,790,000 shares, a drop of 23.8% from the October 31st total of 2,350,000 shares. Based on an average daily trading volume, of 527,400 shares, the days-to-cover ratio is presently 3.4 days. Approximately 5.5% of the company’s stock are short sold.

Quince Therapeutics Stock Performance

Shares of NASDAQ:QNCX traded up $0.01 during trading on Friday, hitting $2.05. The stock had a trading volume of 58,641 shares, compared to its average volume of 368,453. The company has a quick ratio of 9.53, a current ratio of 9.53 and a debt-to-equity ratio of 0.33. 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 $90.20 million, a price-to-earnings ratio of -1.65 and a beta of 0.71. The stock has a 50-day simple moving average of $1.25 and a two-hundred day simple moving average of $0.92.

Analyst Upgrades and Downgrades

QNCX has been the topic of a number of research analyst reports. Maxim Group assumed coverage on Quince Therapeutics in a research note on Thursday, November 7th. They set a “buy” rating and a $6.00 price target on the stock. Rodman & Renshaw assumed coverage on shares of Quince Therapeutics in a research report on Tuesday, October 29th. They set a “buy” rating and a $11.00 target price on the stock. EF Hutton Acquisition Co. I upgraded shares of Quince Therapeutics to a “strong-buy” rating in a research note on Tuesday, October 22nd. Finally, RODMAN&RENSHAW upgraded shares of Quince Therapeutics to a “strong-buy” rating in a research note on Tuesday, October 29th.

Hedge Funds Weigh In On Quince Therapeutics

An institutional investor recently raised its position in Quince Therapeutics stock. Geode Capital Management LLC lifted its holdings in Quince Therapeutics, Inc. (NASDAQ:QNCX) by 24.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 339,125 shares of the company’s stock after acquiring an additional 66,170 shares during the quarter. Geode Capital Management LLC owned 0.78% of Quince Therapeutics worth $263,000 as of its most recent SEC filing. 30.75% of the stock is owned by hedge funds and other institutional investors.

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.