Quince Therapeutics, Inc. (NASDAQ:QNCX) Short Interest Update
by Danessa Lincoln · The Markets DailyQuince Therapeutics, Inc. (NASDAQ:QNCX – Get Free Report) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totaling 2,617,907 shares, an increase of 26.8% from the December 15th total of 2,064,545 shares. Based on an average daily volume of 500,623 shares, the days-to-cover ratio is currently 5.2 days. Approximately 5.7% of the company’s stock are sold short. Approximately 5.7% of the company’s stock are sold short. Based on an average daily volume of 500,623 shares, the days-to-cover ratio is currently 5.2 days.
Analysts Set New Price Targets
A number of equities research analysts have commented on the stock. D. Boral Capital increased their price objective 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. Weiss Ratings reissued a “sell (e+)” rating on shares of Quince Therapeutics in a report on Monday, December 29th. Finally, Citigroup restated a “market outperform” rating on shares of Quince Therapeutics in a research note on Tuesday, January 6th. One 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. Based on data from MarketBeat.com, Quince Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $8.00.
View Our Latest Report on Quince Therapeutics
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the business. Nantahala Capital Management LLC boosted its position in shares of Quince Therapeutics by 21.6% during the 3rd quarter. Nantahala Capital Management LLC now owns 3,073,729 shares of the company’s stock worth $5,010,000 after purchasing an additional 545,427 shares in the last quarter. Millennium Management LLC raised its position in shares of Quince Therapeutics by 1,152.9% during the 3rd quarter. Millennium Management LLC now owns 1,386,776 shares of the company’s stock worth $2,260,000 after purchasing an additional 1,276,094 shares during the last quarter. Almitas Capital LLC acquired a new stake in Quince Therapeutics during the 3rd quarter valued at $806,000. ADAR1 Capital Management LLC raised its holdings in shares of Quince Therapeutics by 442.1% in the third quarter. ADAR1 Capital Management LLC now owns 775,034 shares of the company’s stock worth $1,263,000 after acquiring an additional 632,076 shares during the last quarter. Finally, Union Square Park Capital Management LLC boosted its stake in shares of Quince Therapeutics by 86.0% during the third quarter. Union Square Park Capital Management LLC now owns 224,746 shares of the company’s stock valued at $366,000 after acquiring an additional 103,889 shares during the last quarter. Institutional investors and hedge funds own 30.75% of the company’s stock.
Quince Therapeutics Stock Performance
NASDAQ QNCX traded up $0.67 on Friday, reaching $3.55. The stock had a trading volume of 2,853,641 shares, compared to its average volume of 681,337. The stock has a market cap of $197.66 million, a P/E ratio of -2.93 and a beta of 1.15. The business’s 50-day moving average price is $3.08 and its 200 day moving average price is $2.19. Quince Therapeutics has a 12-month low of $0.72 and a 12-month high of $4.55.
Quince Therapeutics (NASDAQ:QNCX – Get Free Report) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.05). On average, sell-side analysts predict that Quince Therapeutics will post -1.21 earnings per share for the current year.
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.