Shay Capital LLC Boosts Stake in Quince Therapeutics, Inc. (NASDAQ:QNCX)

Shay Capital LLC raised its position in Quince Therapeutics, Inc. (NASDAQ:QNCX) by 60.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 276,799 shares of the company’s stock after buying an additional 104,616 shares during the period. Shay Capital LLC owned approximately 0.63% of Quince Therapeutics worth $518,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in shares of Quince Therapeutics by 10.9% in the 4th quarter. Geode Capital Management LLC now owns 375,932 shares of the company’s stock valued at $703,000 after purchasing an additional 36,807 shares in the last quarter. Anfield Capital Management LLC acquired a new stake in shares of Quince Therapeutics in the 4th quarter valued at about $50,000. Virtu Financial LLC acquired a new stake in shares of Quince Therapeutics in the 4th quarter valued at about $55,000. Scharf Investments LLC acquired a new stake in shares of Quince Therapeutics in the 4th quarter valued at about $170,000. Finally, Northern Trust Corp raised its stake in shares of Quince Therapeutics by 48.5% in the 4th 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 in the last quarter. 30.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on QNCX. D. Boral Capital cut their target price on shares of Quince Therapeutics from $12.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, March 25th. Oppenheimer initiated coverage on shares of Quince Therapeutics in a research note on Monday, March 24th. They set an “outperform” rating and a $10.00 price objective on the stock. Five investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $8.00.

Quince Therapeutics Price Performance

QNCX opened at $0.85 on Friday. The company’s 50-day moving average price is $1.15 and its 200 day moving average price is $1.51. Quince Therapeutics, Inc. has a fifty-two week low of $0.51 and a fifty-two week high of $2.45. The firm has a market cap of $37.50 million, a price-to-earnings ratio of -0.69 and a beta of 0.83. 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 (NASDAQ:QNCX) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.10). As a group, sell-side analysts expect that Quince Therapeutics, Inc. will post -1.21 earnings per share for the current year.

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.