Quince Therapeutics, Inc. (NASDAQ:QNCX) Sees Large Increase in Short Interest

Quince Therapeutics, Inc. (NASDAQ:QNCX) saw a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 2,170,000 shares, a growth of 21.2% from the November 15th total of 1,790,000 shares. Currently, 6.7% of the company’s shares are short sold. Based on an average daily trading volume, of 548,900 shares, the days-to-cover ratio is currently 4.0 days.

Quince Therapeutics Stock Down 5.9 %

Shares of QNCX stock traded down $0.12 during trading hours on Monday, hitting $1.91. 375,569 shares of the company’s stock traded hands, compared to its average volume of 234,073. The company has a quick ratio of 9.53, a current ratio of 9.53 and a debt-to-equity ratio of 0.33. The stock has a market cap of $84.04 million, a price-to-earnings ratio of -1.54 and a beta of 0.74. The stock’s fifty day simple moving average is $1.52 and its two-hundred day simple moving average is $1.01. Quince Therapeutics has a 12-month low of $0.51 and a 12-month high of $2.45.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Quince Therapeutics stock. Geode Capital Management LLC grew its stake in shares of Quince Therapeutics, Inc. (NASDAQ:QNCX) by 24.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 339,125 shares of the company’s stock after acquiring an additional 66,170 shares during the quarter. Geode Capital Management LLC owned about 0.78% of Quince Therapeutics worth $263,000 as of its most recent SEC filing. 30.75% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on QNCX shares. Maxim Group began coverage on Quince Therapeutics in a research report on Thursday, November 7th. They set a “buy” rating and a $6.00 price objective on the stock. EF Hutton Acquisition Co. I upgraded Quince Therapeutics to a “strong-buy” rating in a research report on Tuesday, October 22nd. Rodman & Renshaw started coverage on Quince Therapeutics in a report on Tuesday, October 29th. They issued a “buy” rating and a $11.00 price objective for the company. Finally, RODMAN&RENSHAW upgraded shares of Quince Therapeutics to a “strong-buy” rating in a report on Tuesday, October 29th.

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.