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

Quince Therapeutics, Inc. (NASDAQ:QNCX) was the target of a significant decline in short interest in February. As of February 27th, there was short interest totaling 8,298,192 shares, a decline of 19.7% from the February 12th total of 10,338,418 shares. Based on an average daily volume of 41,372,336 shares, the short-interest ratio is presently 0.2 days. Approximately 17.9% of the shares of the company are sold short. Approximately 17.9% of the shares of the company are sold short. Based on an average daily volume of 41,372,336 shares, the short-interest ratio is presently 0.2 days.

Quince Therapeutics Price Performance

Shares of Quince Therapeutics stock remained flat at $0.11 during trading hours on Friday. The stock had a trading volume of 15,694,900 shares, compared to its average volume of 55,896,864. The firm has a 50-day simple moving average of $1.22 and a 200-day simple moving average of $1.93. Quince Therapeutics has a twelve month low of $0.09 and a twelve month high of $4.55. The firm has a market capitalization of $5.93 million, a PE ratio of -0.09 and a beta of 1.28.

Wall Street Analysts Forecast Growth

QNCX has been the subject of a number of research analyst reports. Lucid Cap Mkts downgraded Quince Therapeutics from a “strong-buy” rating to a “strong sell” rating in a research note on Friday, January 30th. Citigroup downgraded Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a report on Friday, January 30th. Brookline Capital Acquisition lowered shares of Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 29th. Maxim Group cut shares of Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Finally, 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. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Quince Therapeutics has a consensus rating of “Reduce” and an average target price of $7.67.

Institutional Trading of Quince Therapeutics

Several hedge funds have recently made changes to their positions in QNCX. Nantahala Capital Management LLC increased its stake 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 period. Adage Capital Partners GP L.L.C. purchased a new position in Quince Therapeutics during the fourth quarter worth about $7,538,000. Vanguard Group Inc. lifted its position in Quince Therapeutics by 21.3% in the third quarter. Vanguard Group Inc. now owns 1,763,387 shares of the company’s stock valued at $2,874,000 after purchasing an additional 309,349 shares during the period. Millennium Management LLC boosted its holdings 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 valued at $2,260,000 after purchasing an additional 1,276,094 shares in the last quarter. Finally, Almitas Capital LLC boosted 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 purchasing an additional 435,356 shares in the last quarter. Institutional investors and hedge funds own 30.75% of the company’s stock.

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. 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.