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

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

Quince Therapeutics Stock Down 3.6 %

QNCX stock traded down $0.05 during midday trading on Friday, hitting $1.35. The company’s stock had a trading volume of 47,716 shares, compared to its average volume of 244,789. The company’s fifty day moving average price is $1.47 and its 200 day moving average price is $1.45. Quince Therapeutics has a twelve month low of $0.51 and a twelve month 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. The stock has a market capitalization of $59.40 million, a P/E ratio of -1.09 and a beta of 0.71.

Quince Therapeutics (NASDAQ:QNCX) last announced its quarterly earnings data on Monday, March 24th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.09). The firm had revenue of $0.17 million for the quarter. As a group, equities research analysts predict that Quince Therapeutics will post -1.21 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC lifted its holdings in Quince Therapeutics by 24.2% during the 3rd quarter. Geode Capital Management LLC now owns 339,125 shares of the company’s stock valued at $263,000 after purchasing an additional 66,170 shares during the last quarter. Scharf Investments LLC acquired a new stake in shares of Quince Therapeutics during the 4th quarter worth about $170,000. Anfield Capital Management LLC bought a new stake in shares of Quince Therapeutics during the 4th quarter worth about $50,000. Virtu Financial LLC acquired a new position in Quince Therapeutics in the 4th quarter valued at about $55,000. Finally, Northern Trust Corp raised its holdings in Quince Therapeutics by 48.5% in the 4th quarter. Northern Trust Corp now owns 50,524 shares of the company’s stock valued at $94,000 after acquiring an additional 16,501 shares during the period. 30.75% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Brookline Capital Management initiated coverage on shares of Quince Therapeutics in a report on Wednesday, December 18th. They set a “buy” rating and a $9.00 price objective on the stock. Oppenheimer started coverage on Quince Therapeutics in a research note on Monday, March 24th. They issued an “outperform” rating and a $10.00 price target on the stock. Finally, D. Boral Capital reduced their price objective on Quince Therapeutics from $12.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $8.00.

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.