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

Quince Therapeutics, Inc. (NASDAQ:QNCX) was the recipient of a significant decline in short interest in November. As of November 15th, there was short interest totalling 1,790,000 shares, a decline of 23.8% from the October 31st total of 2,350,000 shares. Currently, 5.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 527,400 shares, the short-interest ratio is currently 3.4 days.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on QNCX. RODMAN&RENSHAW raised shares of Quince Therapeutics to a “strong-buy” rating in a report on Tuesday, October 29th. Rodman & Renshaw initiated coverage on Quince Therapeutics in a research note on Tuesday, October 29th. They issued a “buy” rating and a $11.00 price objective for the company. Maxim Group assumed coverage on Quince Therapeutics in a report on Thursday, November 7th. They set a “buy” rating and a $6.00 price objective for the company. Finally, EF Hutton Acquisition Co. I raised Quince Therapeutics to a “strong-buy” rating in a report on Tuesday, October 22nd.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Quince Therapeutics stock. Geode Capital Management LLC raised its position in Quince Therapeutics, Inc. (NASDAQ:QNCX) by 24.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 339,125 shares of the company’s stock after purchasing an additional 66,170 shares during the period. Geode Capital Management LLC owned about 0.78% of Quince Therapeutics worth $263,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 30.75% of the company’s stock.

Quince Therapeutics Price Performance

QNCX traded up $0.01 during midday trading on Friday, reaching $2.05. 58,641 shares of the company’s stock were exchanged, compared to its average volume of 368,453. The business’s 50-day moving average price is $1.25 and its 200 day moving average price is $0.92. The stock has a market capitalization of $90.20 million, a PE ratio of -1.65 and a beta of 0.71. Quince Therapeutics has a 1-year low of $0.51 and a 1-year high of $2.45. The company has a debt-to-equity ratio of 0.33, a current ratio of 9.53 and a quick ratio of 9.53.

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.