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

Quince Therapeutics, Inc. (NASDAQ:QNCX) was the target of a large decline in short interest in July. As of July 15th, there was short interest totaling 50,574 shares, a decline of 55.2% from the June 30th total of 112,788 shares. Based on an average trading volume of 42,759 shares, the short-interest ratio is currently 1.2 days. Approximately 5.6% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on QNCX. Cantor Fitzgerald assumed coverage on Quince Therapeutics in a research report on Tuesday, June 23rd. They set an “overweight” rating and a $80.00 price objective for the company. Wall Street Zen raised Quince Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Lifesci Capital raised Quince Therapeutics to a “strong-buy” rating in a research note on Monday, June 29th. Leerink Partners began coverage on Quince Therapeutics in a research note on Wednesday, June 24th. They issued an “outperform” rating and a $80.00 price target for the company. Finally, Zacks Research upgraded Quince Therapeutics to a “hold” rating in a report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $690.00.

Quince Therapeutics Stock Performance

Shares of Quince Therapeutics stock traded up $0.58 on Tuesday, reaching $18.43. The stock had a trading volume of 15,672 shares, compared to its average volume of 254,855. The business’s 50-day moving average price is $19.36 and its two-hundred day moving average price is $91.81. The stock has a market cap of $18.07 million, a P/E ratio of -0.09 and a beta of 1.40. Quince Therapeutics has a fifty-two week low of $15.10 and a fifty-two week high of $909.98.

Quince Therapeutics (NASDAQ:QNCX) last announced its earnings results on Monday, May 11th. The company reported ($0.59) EPS for the quarter, topping the consensus estimate of ($26.00) by $25.41. As a group, equities analysts forecast that Quince Therapeutics will post -0.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Millennium Management LLC grew its stake 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 worth $2,260,000 after acquiring an additional 1,276,094 shares during the last quarter. Vanguard Group Inc. grew its position in Quince Therapeutics by 21.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,763,387 shares of the company’s stock worth $2,874,000 after purchasing an additional 309,349 shares during the last quarter. Intellectus Partners LLC bought a new position in shares of Quince Therapeutics during the 4th quarter worth about $179,000. 683 Capital Management LLC bought a new stake in shares of Quince Therapeutics in the fourth quarter valued at about $798,000. Finally, XTX Topco Ltd acquired a new stake in Quince Therapeutics during the second quarter worth about $37,000. 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. 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.