Quince Therapeutics, Inc. (NASDAQ:QNCX) Sees Significant Decrease in Short Interest
by Mitch Edgeman · The Markets DailyQuince Therapeutics, Inc. (NASDAQ:QNCX – Get Free Report) was the recipient of a large drop in short interest in the month of January. As of January 30th, there was short interest totaling 1,875,868 shares, a drop of 45.7% from the January 15th total of 3,454,280 shares. Based on an average daily volume of 6,834,214 shares, the short-interest ratio is presently 0.3 days. Approximately 4.0% of the shares of the stock are short sold. Approximately 4.0% of the shares of the stock are short sold. Based on an average daily volume of 6,834,214 shares, the short-interest ratio is presently 0.3 days.
Institutional Investors Weigh In On Quince Therapeutics
A number of hedge funds and other institutional investors have recently modified their holdings of QNCX. Marshall Wace LLP grew its position in Quince Therapeutics by 143.7% during the 4th quarter. Marshall Wace LLP now owns 511,858 shares of the company’s stock worth $1,715,000 after acquiring an additional 301,813 shares during the last quarter. Hudson Bay Capital Management LP purchased a new stake in shares of Quince Therapeutics during the fourth quarter valued at approximately $213,000. Jane Street Group LLC boosted its stake in shares of Quince Therapeutics by 1,382.0% during the fourth quarter. Jane Street Group LLC now owns 521,072 shares of the company’s stock valued at $1,746,000 after purchasing an additional 485,912 shares during the period. Renaissance Technologies LLC increased its stake in shares of Quince Therapeutics by 14.8% in the fourth quarter. Renaissance Technologies LLC now owns 538,100 shares of the company’s stock worth $1,803,000 after buying an additional 69,502 shares during the period. Finally, Cerity Partners LLC bought a new stake in Quince Therapeutics during the 4th quarter valued at $636,000. Institutional investors own 30.75% of the company’s stock.
Quince Therapeutics Stock Performance
QNCX traded down $0.03 during midday trading on Friday, hitting $0.20. The stock had a trading volume of 176,838,778 shares, compared to its average volume of 58,133,132. Quince Therapeutics has a 1 year low of $0.13 and a 1 year high of $4.55. The business has a fifty day moving average of $2.63 and a 200 day moving average of $2.14. The company has a market cap of $11.14 million, a P/E ratio of -0.17 and a beta of 1.22.
Quince Therapeutics (NASDAQ:QNCX – Get Free Report) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.05). On average, equities research analysts anticipate that Quince Therapeutics will post -1.21 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on QNCX shares. Lucid Cap Mkts downgraded Quince Therapeutics from a “strong-buy” rating to a “strong sell” rating in a research report on Friday, January 30th. Maxim Group lowered Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Citizens Jmp downgraded Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a research report on Friday, January 30th. D. Boral Capital lowered Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Finally, Brookline Capital Acquisition lowered shares of Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 29th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Quince Therapeutics currently has a consensus rating of “Hold” and an average target price of $8.00.
Read Our Latest Research Report on Quince Therapeutics
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. 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.