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

Quince Therapeutics, Inc. (NASDAQ:QNCX) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 2,350,000 shares, an increase of 23.0% from the October 15th total of 1,910,000 shares. Based on an average trading volume of 554,300 shares, the days-to-cover ratio is presently 4.2 days. Approximately 7.3% of the company’s shares are sold short.

Quince Therapeutics Stock Performance

Shares of NASDAQ:QNCX traded down $0.12 on Friday, hitting $1.78. 1,006,417 shares of the company were exchanged, compared to its average volume of 1,393,507. Quince Therapeutics has a one year low of $0.51 and a one year high of $2.14. The company’s 50 day moving average price is $1.01 and its two-hundred day moving average price is $0.85. The company has a debt-to-equity ratio of 0.33, a quick ratio of 6.15 and a current ratio of 9.53.

Insider Activity at Quince Therapeutics

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

Institutional Investors Weigh In On Quince Therapeutics

An institutional investor recently raised its position in Quince Therapeutics stock. Geode Capital Management LLC grew its stake in Quince Therapeutics, Inc. (NASDAQ:QNCX) by 24.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 339,125 shares of the company’s stock after purchasing an additional 66,170 shares during the quarter. Geode Capital Management LLC owned approximately 0.78% of Quince Therapeutics worth $263,000 as of its most recent SEC filing. 30.75% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on QNCX shares. RODMAN&RENSHAW upgraded Quince Therapeutics to a “strong-buy” rating in a research report on Tuesday, October 29th. EF Hutton Acquisition Co. I upgraded shares of Quince Therapeutics to a “strong-buy” rating in a research note on Tuesday, October 22nd. Maxim Group assumed coverage on shares of Quince Therapeutics in a report on Thursday, November 7th. They issued a “buy” rating and a $6.00 target price on the stock. Finally, Rodman & Renshaw started coverage on shares of Quince Therapeutics in a research note on Tuesday, October 29th. They issued a “buy” rating and a $11.00 price objective on the 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.