Quince Therapeutics, Inc. (NASDAQ:QNCX) Short Interest Down 33.5% in March

Quince Therapeutics, Inc. (NASDAQ:QNCX) saw a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 1,690,000 shares, a drop of 33.5% from the February 28th total of 2,540,000 shares. Approximately 5.2% of the shares of the company are sold short. Based on an average daily volume of 128,100 shares, the days-to-cover ratio is presently 13.2 days.

Quince Therapeutics Price Performance

NASDAQ QNCX traded down $0.05 during trading on Friday, reaching $1.35. 47,716 shares of the company traded hands, compared to its average volume of 244,789. Quince Therapeutics has a 1-year low of $0.51 and a 1-year high of $2.45. The company has a market cap of $59.40 million, a price-to-earnings ratio of -1.09 and a beta of 0.71. The stock’s 50 day moving average price is $1.47 and its two-hundred day moving average price is $1.45. The company has a debt-to-equity ratio of 0.33, a quick ratio of 9.53 and a current ratio of 9.53.

Quince Therapeutics (NASDAQ:QNCX) last posted its quarterly earnings data on Monday, March 24th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.09). The firm had revenue of $0.17 million for the quarter. As a group, analysts anticipate that Quince Therapeutics will post -1.21 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on QNCX. Brookline Capital Management initiated coverage on shares of Quince Therapeutics in a report on Wednesday, December 18th. They set a “buy” rating and a $9.00 price target for the company. Oppenheimer started coverage on Quince Therapeutics in a report on Monday, March 24th. They issued an “outperform” rating and a $10.00 target price on the stock. Finally, D. Boral Capital cut their price target on Quince Therapeutics from $12.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday. Five analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $8.00.

Hedge Funds Weigh In On Quince Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Anfield Capital Management LLC bought a new position in shares of Quince Therapeutics in the fourth quarter valued at about $50,000. Virtu Financial LLC acquired a new position in Quince Therapeutics during the fourth quarter valued at approximately $55,000. Two Sigma Investments LP bought a new stake in Quince Therapeutics in the fourth quarter valued at approximately $57,000. Northern Trust Corp boosted its position in shares of Quince Therapeutics by 48.5% during the fourth quarter. Northern Trust Corp now owns 50,524 shares of the company’s stock worth $94,000 after purchasing an additional 16,501 shares in the last quarter. Finally, Scharf Investments LLC acquired a new position in shares of Quince Therapeutics in the 4th quarter valued at $170,000. Institutional investors and hedge funds own 30.75% of the company’s stock.

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.