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

Quince Therapeutics, Inc. (NASDAQ:QNCX) saw a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 11,153,033 shares, an increase of 34.4% from the February 26th total of 8,298,192 shares. Based on an average trading volume of 47,078,857 shares, the days-to-cover ratio is presently 0.2 days. Currently, 24.1% of the shares of the company are sold short.

Quince Therapeutics Stock Up 15.6%

QNCX stock traded up $0.01 on Monday, hitting $0.10. 165,468,358 shares of the company’s stock traded hands, compared to its average volume of 31,505,552. Quince Therapeutics has a 1-year low of $0.08 and a 1-year high of $4.55. The stock has a fifty day moving average of $0.65 and a 200-day moving average of $1.82.

Wall Street Analyst Weigh In

QNCX has been the topic of a number of analyst reports. D. Boral Capital cut shares of Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Maxim Group lowered shares of Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. cut shares of Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 29th. Weiss Ratings restated a “sell (e+)” rating on shares of Quince Therapeutics in a research note on Monday, December 29th. Finally, Citizens Jmp cut Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a report on Friday, January 30th. Five equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $6.50.

Institutional Investors Weigh In On Quince Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Rockefeller Capital Management L.P. bought a new stake in shares of Quince Therapeutics during the 2nd quarter worth $280,000. XTX Topco Ltd acquired a new stake in shares of Quince Therapeutics during the second quarter worth $37,000. Nantahala Capital Management LLC acquired a new stake in shares of Quince Therapeutics during the second quarter worth $4,172,000. Bridgeway Capital Management LLC lifted its holdings in shares of Quince Therapeutics by 20.9% during the second quarter. Bridgeway Capital Management LLC now owns 128,617 shares of the company’s stock valued at $212,000 after purchasing an additional 22,200 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Quince Therapeutics by 21.3% during the third quarter. Vanguard Group Inc. now owns 1,763,387 shares of the company’s stock valued at $2,874,000 after purchasing an additional 309,349 shares during the last quarter. Institutional investors and hedge funds own 30.75% of the company’s stock.

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.