Quince Therapeutics, Inc. (NASDAQ:QNCX) Short Interest Up 33.0% in December

Quince Therapeutics, Inc. (NASDAQ:QNCX) was the recipient of a large growth in short interest in December. As of December 15th, there was short interest totaling 2,064,545 shares, a growth of 33.0% from the November 30th total of 1,551,992 shares. Based on an average daily trading volume, of 1,208,667 shares, the short-interest ratio is currently 1.7 days. Currently, 4.5% of the shares of the stock are sold short. Currently, 4.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,208,667 shares, the short-interest ratio is currently 1.7 days.

Quince Therapeutics Trading Up 2.8%

QNCX stock traded up $0.09 during midday trading on Wednesday, reaching $3.35. The stock had a trading volume of 468,543 shares, compared to its average volume of 341,857. The company’s fifty day simple moving average is $2.74 and its 200 day simple moving average is $2.05. The company has a market cap of $186.53 million, a price-to-earnings ratio of -2.77 and a beta of 1.03. Quince Therapeutics has a 52-week low of $0.72 and a 52-week high of $4.55.

Quince Therapeutics (NASDAQ:QNCX) last released its earnings results on Wednesday, November 12th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.05). Sell-side analysts predict that Quince Therapeutics will post -1.21 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on QNCX. Weiss Ratings reissued a “sell (e+)” rating on shares of Quince Therapeutics in a report on Monday. D. Boral Capital lifted their target price on shares of Quince Therapeutics from $4.00 to $5.00 and gave the company a “buy” rating in a research report on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Quince Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.00.

Hedge Funds Weigh In On Quince Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of QNCX. Ieq Capital LLC purchased a new stake in shares of Quince Therapeutics in the 1st quarter valued at approximately $1,073,000. Rockefeller Capital Management L.P. purchased a new position in shares of Quince Therapeutics during the 2nd quarter worth approximately $280,000. XTX Topco Ltd acquired a new stake in Quince Therapeutics in the 2nd quarter valued at approximately $37,000. Nantahala Capital Management LLC purchased a new stake in Quince Therapeutics in the second quarter valued at approximately $4,172,000. Finally, Bridgeway Capital Management LLC lifted its stake in Quince Therapeutics by 20.9% during the second quarter. Bridgeway Capital Management LLC now owns 128,617 shares of the company’s stock worth $212,000 after purchasing an additional 22,200 shares in the last quarter. 30.75% of the stock is currently owned by institutional investors and hedge funds.

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.