Quince Therapeutics, Inc. (NASDAQ:QNCX) Short Interest Down 42.9% in May

Quince Therapeutics, Inc. (NASDAQ:QNCX) was the recipient of a significant drop in short interest during the month of May. As of May 15th, there was short interest totalling 605,000 shares, a drop of 42.9% from the April 30th total of 1,060,000 shares. Based on an average daily trading volume, of 278,700 shares, the short-interest ratio is presently 2.2 days. Currently, 1.7% of the company’s shares are sold short.

Institutional Investors Weigh In On Quince Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Virtu Financial LLC raised its position in Quince Therapeutics by 48.4% in the 1st quarter. Virtu Financial LLC now owns 43,332 shares of the company’s stock valued at $58,000 after buying an additional 14,128 shares during the last quarter. Northern Trust Corp increased its position in shares of Quince Therapeutics by 48.5% during the 4th quarter. Northern Trust Corp now owns 50,524 shares of the company’s stock worth $94,000 after purchasing an additional 16,501 shares during the last quarter. Anfield Capital Management LLC acquired a new position in shares of Quince Therapeutics during the 4th quarter worth approximately $50,000. Two Sigma Investments LP acquired a new position in shares of Quince Therapeutics during the 4th quarter worth approximately $57,000. Finally, Geode Capital Management LLC increased its position in shares of Quince Therapeutics by 10.9% during the 4th quarter. Geode Capital Management LLC now owns 375,932 shares of the company’s stock worth $703,000 after purchasing an additional 36,807 shares during the last quarter. Institutional investors and hedge funds own 30.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on QNCX shares. D. Boral Capital cut their price objective on Quince Therapeutics from $12.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, March 25th. Wall Street Zen cut Quince Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Finally, Oppenheimer started coverage on Quince Therapeutics in a report on Monday, March 24th. They set an “outperform” rating and a $10.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Quince Therapeutics presently has an average rating of “Buy” and a consensus target price of $8.00.

Quince Therapeutics Stock Down 1.0%

Shares of Quince Therapeutics stock opened at $1.03 on Monday. The business’s 50 day simple moving average is $1.08 and its 200 day simple moving average is $1.47. Quince Therapeutics has a 52-week low of $0.51 and a 52-week high of $2.45. The firm has a market cap of $46.83 million, a PE ratio of -0.83 and a beta of 0.83. 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 announced its earnings results on Tuesday, May 13th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.10). On average, analysts predict that Quince Therapeutics will post -1.21 earnings per share for the current fiscal year.

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.