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

Quince Therapeutics, Inc. (NASDAQ:QNCX) saw a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 1,690,000 shares, a decline of 33.5% from the February 28th total of 2,540,000 shares. Approximately 5.2% of the shares of the company are sold short. Based on an average trading volume of 128,100 shares, the days-to-cover ratio is presently 13.2 days.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on QNCX. Brookline Capital Management initiated coverage on Quince Therapeutics in a report on Wednesday, December 18th. They set a “buy” rating and a $9.00 price target for the company. D. Boral Capital cut their target price on shares of Quince Therapeutics from $12.00 to $4.00 and set a “buy” rating for the company in a research note on Tuesday, March 25th. Finally, Oppenheimer assumed coverage on shares of Quince Therapeutics in a research note on Monday, March 24th. They issued an “outperform” rating and a $10.00 price target on the stock. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $8.00.

Quince Therapeutics Stock Performance

QNCX stock traded down $0.02 during trading hours on Monday, hitting $1.33. 133,951 shares of the stock were exchanged, compared to its average volume of 244,347. Quince Therapeutics has a 12 month low of $0.51 and a 12 month high of $2.45. The company has a current ratio of 9.53, a quick ratio of 9.53 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $58.52 million, a P/E ratio of -1.07 and a beta of 0.71. The company has a 50-day simple moving average of $1.47 and a two-hundred day simple moving average of $1.46.

Quince Therapeutics (NASDAQ:QNCX) last released its quarterly earnings results on Monday, March 24th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.09). The company had revenue of $0.17 million for the quarter. On average, analysts forecast that Quince Therapeutics will post -1.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Quince Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in QNCX. Geode Capital Management LLC grew its position in Quince Therapeutics by 10.9% during the fourth quarter. Geode Capital Management LLC now owns 375,932 shares of the company’s stock worth $703,000 after buying an additional 36,807 shares in the last quarter. Shay Capital LLC grew its holdings in shares of Quince Therapeutics by 60.8% during the 4th quarter. Shay Capital LLC now owns 276,799 shares of the company’s stock worth $518,000 after purchasing an additional 104,616 shares in the last quarter. Scharf Investments LLC bought a new position in shares of Quince Therapeutics in the fourth quarter worth $170,000. Northern Trust Corp raised its stake in Quince Therapeutics by 48.5% in the fourth quarter. Northern Trust Corp now owns 50,524 shares of the company’s stock valued at $94,000 after purchasing an additional 16,501 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new position in Quince Therapeutics in the fourth quarter valued at about $57,000. 30.75% of the stock is currently owned by institutional investors and hedge funds.

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.