Short Interest in Quince Therapeutics, Inc. (NASDAQ:QNCX) Declines By 19.7%

Quince Therapeutics, Inc. (NASDAQ:QNCX) was the recipient of a significant decrease in short interest during the month of February. As of February 27th, there was short interest totaling 8,298,192 shares, a decrease of 19.7% from the February 12th total of 10,338,418 shares. Currently, 17.9% of the shares of the company are sold short. Based on an average daily trading volume, of 41,372,336 shares, the short-interest ratio is currently 0.2 days. Based on an average daily trading volume, of 41,372,336 shares, the short-interest ratio is currently 0.2 days. Currently, 17.9% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Brookline Capital Acquisition lowered Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 29th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Quince Therapeutics in a research note on Monday, December 29th. Maxim Group lowered shares of Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Citigroup cut shares of Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a research note on Friday, January 30th. Finally, D. Boral Capital downgraded shares of Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $7.67.

Quince Therapeutics Stock Down 4.4%

Shares of Quince Therapeutics stock traded down $0.00 during mid-day trading on Tuesday, reaching $0.10. 4,874,457 shares of the stock traded hands, compared to its average volume of 76,761,719. The stock has a market capitalization of $5.53 million, a PE ratio of -0.08 and a beta of 1.28. The business has a 50-day moving average of $1.16 and a 200 day moving average of $1.92. Quince Therapeutics has a fifty-two week low of $0.09 and a fifty-two week high of $4.55.

Institutional Investors Weigh In On Quince Therapeutics

A number of large investors have recently modified their holdings of QNCX. Nantahala Capital Management LLC purchased a new position in Quince Therapeutics in the 2nd quarter worth approximately $4,172,000. Adage Capital Partners GP L.L.C. acquired a new position in shares of Quince Therapeutics during the 4th quarter worth approximately $7,538,000. Millennium Management LLC grew its position in shares of Quince Therapeutics by 1,152.9% in the third quarter. Millennium Management LLC now owns 1,386,776 shares of the company’s stock valued at $2,260,000 after purchasing an additional 1,276,094 shares in the last quarter. Superstring Capital Management LP purchased a new stake in shares of Quince Therapeutics in the fourth quarter valued at approximately $2,877,000. Finally, ADAR1 Capital Management LLC increased its holdings in shares of Quince Therapeutics by 442.1% in the third quarter. ADAR1 Capital Management LLC now owns 775,034 shares of the company’s stock valued at $1,263,000 after purchasing an additional 632,076 shares during the last quarter. Hedge funds and other institutional investors own 30.75% of the company’s stock.

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. 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.