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

Quince Therapeutics, Inc. (NASDAQ:QNCX) saw a significant increase in short interest in the month of February. As of February 13th, there was short interest totaling 10,338,418 shares, an increase of 451.1% from the January 29th total of 1,875,868 shares. Currently, 22.3% of the company’s shares are sold short. Based on an average daily trading volume, of 284,154,407 shares, the short-interest ratio is currently 0.0 days. Based on an average daily trading volume, of 284,154,407 shares, the short-interest ratio is currently 0.0 days. Currently, 22.3% of the company’s shares are sold short.

Quince Therapeutics Stock Down 5.2%

Shares of NASDAQ QNCX opened at $0.13 on Thursday. The firm has a market cap of $7.35 million, a PE ratio of -0.11 and a beta of 1.22. The company’s fifty day simple moving average is $2.02 and its 200 day simple moving average is $2.06. Quince Therapeutics has a 12-month low of $0.13 and a 12-month high of $4.55.

Wall Street Analyst Weigh In

Several analysts recently commented on QNCX shares. Lucid Cap Mkts cut Quince Therapeutics from a “strong-buy” rating to a “strong sell” rating in a report on Friday, January 30th. D. Boral Capital downgraded shares of Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. Citigroup cut shares of Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a research report on Friday, January 30th. Brookline Capital Acquisition lowered shares of Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 29th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Quince Therapeutics in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Quince Therapeutics has an average rating of “Reduce” and a consensus target price of $7.67.

Institutional Trading of Quince Therapeutics

Several large investors have recently made changes to their positions in QNCX. Bridgeway Capital Management LLC increased its position in Quince Therapeutics by 20.9% in the 2nd quarter. Bridgeway Capital Management LLC now owns 128,617 shares of the company’s stock valued at $212,000 after buying an additional 22,200 shares in the last quarter. XTX Topco Ltd bought a new position in Quince Therapeutics in the second quarter worth approximately $37,000. Intellectus Partners LLC acquired a new stake in Quince Therapeutics in the fourth quarter valued at approximately $179,000. GSA Capital Partners LLP increased its holdings in shares of Quince Therapeutics by 158.0% during the third quarter. GSA Capital Partners LLP now owns 87,235 shares of the company’s stock valued at $142,000 after acquiring an additional 53,417 shares in the last quarter. Finally, Hudson Bay Capital Management LP bought a new stake in shares of Quince Therapeutics during the fourth quarter valued at approximately $213,000. 30.75% of the stock is currently owned by institutional investors and hedge funds.

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.