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

Quince Therapeutics, Inc. (NASDAQ:QNCX) was the recipient of a significant decline in short interest during the month of June. As of June 30th, there was short interest totaling 112,788 shares, a decline of 94.4% from the June 15th total of 2,012,417 shares. Currently, 12.4% of the shares of the stock are short sold. Based on an average daily volume of 23,583 shares, the days-to-cover ratio is currently 4.8 days.

Quince Therapeutics Stock Performance

QNCX stock traded up $0.05 on Friday, reaching $17.54. The company had a trading volume of 23,629 shares, compared to its average volume of 24,822. The company’s fifty day moving average is $20.66 and its 200 day moving average is $146.06. The company has a market cap of $17.19 million, a P/E ratio of -0.08 and a beta of 1.40. Quince Therapeutics has a 1 year low of $15.10 and a 1 year high of $909.98.

Quince Therapeutics (NASDAQ:QNCX) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.59) earnings per share for the quarter, topping the consensus estimate of ($26.00) by $25.41. On average, sell-side analysts predict that Quince Therapeutics will post -0.96 earnings per share for the current year.

Institutional Investors Weigh In On Quince Therapeutics

Several hedge funds have recently modified their holdings of QNCX. Nantahala Capital Management LLC grew its holdings 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 buying an additional 545,427 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in Quince Therapeutics during the fourth quarter worth approximately $7,538,000. Vanguard Group Inc. grew its stake in Quince Therapeutics by 21.3% in the 3rd 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 period. Millennium Management LLC grew its stake in Quince Therapeutics by 1,152.9% in the 3rd quarter. Millennium Management LLC now owns 1,386,776 shares of the company’s stock worth $2,260,000 after acquiring an additional 1,276,094 shares during the period. Finally, Almitas Capital LLC raised its holdings in Quince Therapeutics by 88.0% in the 4th quarter. Almitas Capital LLC now owns 930,134 shares of the company’s stock valued at $3,116,000 after acquiring an additional 435,356 shares during the last quarter. 30.75% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

QNCX has been the topic of several research reports. Lifesci Capital raised Quince Therapeutics to a “strong-buy” rating in a report on Monday, June 29th. Weiss Ratings lowered shares of Quince Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, May 1st. Wall Street Zen raised shares of Quince Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Zacks Research upgraded shares of Quince Therapeutics to a “hold” rating in a report on Wednesday, June 24th. Finally, Leerink Partners started coverage on shares of Quince Therapeutics in a research report on Wednesday, June 24th. They set an “outperform” rating and a $80.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Quince Therapeutics currently has an average rating of “Hold” and a consensus target price of $690.00.

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.