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

Quince Therapeutics, Inc. (NASDAQ:QNCX) was the recipient of a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 1,790,000 shares, a drop of 23.8% from the October 31st total of 2,350,000 shares. Currently, 5.5% of the shares of the company are sold short. Based on an average trading volume of 527,400 shares, the short-interest ratio is presently 3.4 days.

Analysts Set New Price Targets

QNCX has been the subject of a number of analyst reports. RODMAN&RENSHAW raised Quince Therapeutics to a “strong-buy” rating in a report on Tuesday, October 29th. Maxim Group initiated coverage on shares of Quince Therapeutics in a report on Thursday, November 7th. They set a “buy” rating and a $6.00 target price for the company. Rodman & Renshaw initiated coverage on shares of Quince Therapeutics in a report on Tuesday, October 29th. They set a “buy” rating and a $11.00 price target on the stock. Finally, EF Hutton Acquisition Co. I raised shares of Quince Therapeutics to a “strong-buy” rating in a report on Tuesday, October 22nd.

Quince Therapeutics Price Performance

QNCX traded up $0.01 during trading on Friday, hitting $2.05. The company’s stock had a trading volume of 58,641 shares, compared to its average volume of 368,453. The firm has a market capitalization of $90.20 million, a price-to-earnings ratio of -1.65 and a beta of 0.71. Quince Therapeutics has a twelve month low of $0.51 and a twelve month high of $2.45. The business’s fifty day simple moving average is $1.25 and its 200 day simple moving average is $0.92. The company has a current ratio of 9.53, a quick ratio of 9.53 and a debt-to-equity ratio of 0.33.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Quince Therapeutics stock. Geode Capital Management LLC raised its position in Quince Therapeutics, Inc. (NASDAQ:QNCX) by 24.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 339,125 shares of the company’s stock after buying an additional 66,170 shares during the period. Geode Capital Management LLC owned about 0.78% of Quince Therapeutics worth $263,000 at the end of the most recent reporting period. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

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.