Short Interest in Quince Therapeutics, Inc. (NASDAQ:QNCX) Rises By 23.0%

Quince Therapeutics, Inc. (NASDAQ:QNCX - Get Free Report) was the recipient of a significant growth in short interest in October. As of October 31st, there was short interest totalling 2,350,000 shares, a growth of 23.0% from the October 15th total of 1,910,000 shares. Currently, 7.3% of the shares of the company are sold short. Based on an average daily trading volume, of 554,300 shares, the short-interest ratio is presently 4.2 days.

Quince Therapeutics Price Performance

NASDAQ QNCX traded down $0.12 during trading hours on Friday, hitting $1.78. 1,006,417 shares of the company's stock traded hands, compared to its average volume of 229,391. The company has a market capitalization of $77.03 million, a PE ratio of -1.44 and a beta of 0.71. The company has a debt-to-equity ratio of 0.29, a current ratio of 6.15 and a quick ratio of 6.15. Quince Therapeutics has a 52-week low of $0.51 and a 52-week high of $2.14. The firm's 50-day moving average is $1.01 and its 200-day moving average is $0.85.

Quince Therapeutics (NASDAQ:QNCX - Get Free Report) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.18) earnings per share (EPS) for the quarter.

Insider Activity at Quince Therapeutics

In other Quince Therapeutics news, CEO Dirk Thye purchased 77,500 shares of Quince Therapeutics stock in a transaction that occurred on Thursday, August 29th. The stock was bought at an average price of $0.69 per share, with a total value of $53,475.00. Following the acquisition, the chief executive officer now owns 766,941 shares of the company's stock, valued at $529,189.29. This trade represents a 11.24 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President Charles S. Ryan acquired 48,387 shares of the company's stock in a transaction on Tuesday, August 20th. The stock was acquired at an average cost of $0.65 per share, for a total transaction of $31,451.55. Following the completion of the acquisition, the president now owns 122,461 shares of the company's stock, valued at $79,599.65. This trade represents a 65.32 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 158,887 shares of company stock worth $105,609. 16.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Quince Therapeutics

A hedge fund recently raised its stake in Quince Therapeutics stock. Geode Capital Management LLC lifted its stake in shares of Quince Therapeutics, Inc. (NASDAQ:QNCX - Free Report) by 24.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 339,125 shares of the company's stock after acquiring an additional 66,170 shares during the period. Geode Capital Management LLC owned 0.78% of Quince Therapeutics worth $263,000 as of its most recent filing with the Securities & Exchange Commission. 30.75% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

QNCX has been the subject of a number of research reports. EF Hutton Acquisition Co. I raised shares of Quince Therapeutics to a "strong-buy" rating in a research note on Tuesday, October 22nd. Maxim Group started coverage on Quince Therapeutics in a report on Thursday, November 7th. They set a "buy" rating and a $6.00 target price for the company. Rodman & Renshaw began coverage on Quince Therapeutics in a research note on Tuesday, October 29th. They issued a "buy" rating and a $11.00 price target on the stock. Finally, RODMAN&RENSHAW raised Quince Therapeutics to a "strong-buy" rating in a research note on Tuesday, October 29th.

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.