Quince Therapeutics, Inc. (NASDAQ:IRLA) Sees Large Growth in Short Interest

Quince Therapeutics, Inc. (NASDAQ:IRLA) was the recipient of a large increase in short interest in the month of October. As of October 15th, there was short interest totaling 154,736 shares, an increase of 158.1% from the September 30th total of 59,944 shares. Based on an average daily trading volume, of 46,846 shares, the short-interest ratio is currently 3.3 days. Currently, 16.1% of the company’s stock are short sold.

Quince Therapeutics Trading Up 4.2%

IRLA traded up $1.33 during trading on Friday, reaching $32.95. The company’s stock had a trading volume of 97,999 shares, compared to its average volume of 82,475. Quince Therapeutics has a 52-week low of $15.10 and a 52-week high of $909.98. The firm has a market capitalization of $33.61 million, a PE ratio of -0.21 and a beta of 1.33.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Weiss Ratings initiated coverage on Quince Therapeutics in a research note on Tuesday, October 13th. They issued a “sell (d-)” rating on the stock. Raymond James Financial raised Quince Therapeutics to a “moderate buy” rating in a research report on Friday, October 9th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold”.

Quince Therapeutics Company Profile

Quince Therapeutics is a clinical-stage biotechnology company focused on developing treatments for rare diseases with significant unmet medical needs. The company’s primary program is EryDex, an investigational therapy designed to deliver dexamethasone through a patient’s own red blood cells.

EryDex is being evaluated for the treatment of ataxia-telangiectasia, a rare inherited disorder that can cause progressive neurological impairment, immune-system problems and other serious complications.