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

Quince Therapeutics, Inc. (NASDAQ:QNCX) was the target of a significant decline in short interest during the month of April. As of April 15th, there was short interest totaling 1,951,816 shares, a decline of 85.9% from the March 31st total of 13,826,556 shares. Approximately 15.0% of the company’s stock are sold short. Based on an average daily trading volume, of 21,241,546 shares, the short-interest ratio is presently 0.1 days.

Hedge Funds Weigh In On Quince Therapeutics

A number of hedge funds have recently modified their holdings of QNCX. XTX Topco Ltd bought a new position in shares of Quince Therapeutics in the second quarter worth approximately $37,000. Nantahala Capital Management LLC bought a new position in shares of Quince Therapeutics in the second quarter worth approximately $4,172,000. Bridgeway Capital Management LLC boosted its position in shares of 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 purchasing an additional 22,200 shares during the period. Vanguard Group Inc. boosted its position in shares of Quince Therapeutics by 21.3% in the third quarter. Vanguard Group Inc. now owns 1,763,387 shares of the company’s stock worth $2,874,000 after purchasing an additional 309,349 shares during the period. Finally, GSA Capital Partners LLP boosted its position in shares of Quince Therapeutics by 158.0% in the third quarter. GSA Capital Partners LLP now owns 87,235 shares of the company’s stock worth $142,000 after purchasing an additional 53,417 shares during the period. 30.75% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Wall Street Zen cut shares of Quince Therapeutics to a “strong sell” rating in a report on Saturday, April 18th. Lucid Cap Mkts cut shares of Quince Therapeutics from a “strong-buy” rating to a “strong sell” rating in a report on Friday, January 30th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Quince Therapeutics in a report on Monday, December 29th. Citigroup cut shares of Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a report on Friday, January 30th. Finally, cut shares of Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 29th. Five research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Quince Therapeutics has an average rating of “Reduce” and an average target price of $65.00.

Quince Therapeutics Stock Performance

Shares of QNCX remained flat at $1.36 during mid-day trading on Friday. 1,141,094 shares of the company’s stock were exchanged, compared to its average volume of 6,738,929. The firm has a market capitalization of $22.17 million, a price-to-earnings ratio of -0.08 and a beta of 1.33. Quince Therapeutics has a fifty-two week low of $0.80 and a fifty-two week high of $45.50. The business’s 50 day moving average price is $1.21 and its two-hundred day moving average price is $16.11.

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.