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

Quince Therapeutics, Inc. (NASDAQ:QNCX) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totaling 13,826,556 shares, an increase of 24.0% from the March 15th total of 11,153,033 shares. Currently, 31.2% of the company’s shares are short sold. Based on an average daily volume of 27,231,626 shares, the short-interest ratio is presently 0.5 days.

Institutional Trading of Quince Therapeutics

A number of large investors have recently bought and sold shares of the company. Bridgeway Capital Management LLC increased its position in Quince Therapeutics by 20.9% in the second quarter. Bridgeway Capital Management LLC now owns 128,617 shares of the company’s stock worth $212,000 after buying an additional 22,200 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Quince Therapeutics during the 2nd quarter valued at approximately $37,000. Intellectus Partners LLC bought a new position in Quince Therapeutics in the 4th quarter worth approximately $179,000. GSA Capital Partners LLP boosted its holdings in Quince Therapeutics by 158.0% in the 3rd quarter. GSA Capital Partners LLP now owns 87,235 shares of the company’s stock worth $142,000 after buying an additional 53,417 shares during the period. Finally, Hudson Bay Capital Management LP bought a new position in Quince Therapeutics in the 4th quarter worth approximately $213,000. 30.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Citigroup downgraded shares of Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a research note on Friday, January 30th. downgraded shares of Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 29th. 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. Weiss Ratings reissued a “sell (e+)” rating on shares of Quince Therapeutics in a research report on Monday, December 29th. Finally, Citizens Jmp downgraded shares of Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a research report on Friday, January 30th. Five research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $65.00.

Quince Therapeutics Stock Up 10.2%

QNCX stock traded up $0.13 during trading on Thursday, reaching $1.36. The stock had a trading volume of 2,767,965 shares, compared to its average volume of 8,906,854. Quince Therapeutics has a one year low of $0.80 and a one year high of $45.50. The company’s 50 day moving average is $1.42 and its two-hundred day moving average is $16.86. The company has a market capitalization of $7.54 million, a price-to-earnings ratio of -0.08 and a beta of 1.33.

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.