Quince Therapeutics, Inc. (NASDAQ:QNCX) Sees Significant Decline in Short Interest

Quince Therapeutics, Inc. (NASDAQ:QNCX) was the recipient of a large 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. Currently, 17.9% of the shares of the stock are sold short. Currently, 17.9% of the shares of the stock are sold short. Based on an average daily volume of 41,372,336 shares, the short-interest ratio is presently 0.2 days.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on QNCX shares. Brookline Capital Acquisition cut shares of Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 29th. Maxim Group cut shares of Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. D. Boral Capital downgraded Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. Citigroup cut shares of Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a research report on Friday, January 30th. Finally, Citizens Jmp lowered Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a research report on Friday, January 30th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $7.67.

Institutional Investors Weigh In On Quince Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. purchased a new stake in shares of Quince Therapeutics during the 2nd quarter worth approximately $280,000. XTX Topco Ltd purchased a new position in shares of Quince Therapeutics in the 2nd quarter valued at $37,000. Nantahala Capital Management LLC purchased a new position in shares of Quince Therapeutics in the 2nd quarter valued at $4,172,000. Bridgeway Capital Management LLC raised its stake in Quince Therapeutics by 20.9% during the 2nd quarter. Bridgeway Capital Management LLC now owns 128,617 shares of the company’s stock worth $212,000 after acquiring an additional 22,200 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Quince Therapeutics by 21.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,763,387 shares of the company’s stock worth $2,874,000 after acquiring an additional 309,349 shares in the last quarter. Hedge funds and other institutional investors own 30.75% of the company’s stock.

Quince Therapeutics Price Performance

QNCX stock remained flat at $0.11 during midday trading on Friday. 15,694,900 shares of the company’s stock traded hands, compared to its average volume of 55,896,864. Quince Therapeutics has a 52 week low of $0.09 and a 52 week high of $4.55. The company has a market cap of $5.93 million, a price-to-earnings ratio of -0.09 and a beta of 1.28. The firm has a 50-day moving average of $1.22 and a 200-day moving average of $1.93.

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.