Quince Therapeutics, Inc. (NASDAQ:IRLA) Sees Significant Growth in Short Interest

Quince Therapeutics, Inc. (NASDAQ:IRLA) was the recipient of a large increase in short interest in the month of October. As of October 15th, there was short interest totaling 154,736 shares, an increase of 158.1% from the September 30th total of 59,944 shares. Based on an average trading volume of 46,846 shares, the short-interest ratio is presently 3.3 days. Approximately 16.1% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Several research firms have commented on IRLA. Raymond James Financial raised shares of Quince Therapeutics to a “moderate buy” rating in a research report on Friday, October 9th. Weiss Ratings started coverage on shares of Quince Therapeutics in a report on Tuesday, October 13th. They set a “sell (d-)” rating on the stock. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

Quince Therapeutics Stock Performance

Shares of NASDAQ IRLA traded up $1.33 during midday trading on Friday, reaching $32.95. 97,998 shares of the stock traded hands, compared to its average volume of 187,385. The company has a market capitalization of $33.61 million, a P/E ratio of -0.21 and a beta of 1.33. Quince Therapeutics has a one year low of $15.10 and a one year high of $909.98.

Quince Therapeutics Company Profile

Quince Therapeutics is a clinical-stage biotechnology company focused on developing treatments for rare diseases with significant unmet medical needs. The company’s primary program is EryDex, an investigational therapy designed to deliver dexamethasone through a patient’s own red blood cells.

EryDex is being evaluated for the treatment of ataxia-telangiectasia, a rare inherited disorder that can cause progressive neurological impairment, immune-system problems and other serious complications.