Quince Therapeutics, Inc. (NASDAQ:QNCX) Short Interest Update

Quince Therapeutics, Inc. (NASDAQ:QNCX) saw a significant increase in short interest during 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 daily volume of 554,300 shares, the days-to-cover ratio is currently 4.2 days. Approximately 7.3% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on QNCX. RODMAN&RENSHAW raised Quince Therapeutics to a “strong-buy” rating in a research report on Tuesday, October 29th. Maxim Group initiated coverage on shares of Quince Therapeutics in a research report on Thursday, November 7th. They issued a “buy” rating and a $6.00 target price for the company. Rodman & Renshaw started coverage on Quince Therapeutics in a research report on Tuesday, October 29th. They issued a “buy” rating and a $11.00 target price on the stock. Finally, EF Hutton Acquisition Co. I raised shares of Quince Therapeutics to a “strong-buy” rating in a report on Tuesday, October 22nd.

Insider Buying and Selling

In related news, CEO Dirk Thye bought 77,500 shares of the stock in a transaction dated 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 purchase, the chief executive officer now owns 766,941 shares in the company, valued at approximately $529,189.29. The trade was a 11.24 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, President Charles S. Ryan bought 48,387 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were bought at an average cost of $0.65 per share, for a total transaction of $31,451.55. Following the purchase, the president now directly owns 122,461 shares in the company, valued at approximately $79,599.65. This represents a 65.32 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 158,887 shares of company stock valued at $105,609 over the last 90 days. 16.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

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

Quince Therapeutics Trading Down 6.3 %

NASDAQ:QNCX traded down $0.12 during trading hours on Friday, reaching $1.78. The stock had a trading volume of 1,006,417 shares, compared to its average volume of 1,393,507. Quince Therapeutics has a 52 week low of $0.51 and a 52 week high of $2.14. The company has a 50 day moving average price of $1.01 and a two-hundred day moving average price of $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.

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.