Quince Therapeutics, Inc. (NASDAQ:QNCX) Short Interest Up 64.5% in July

Key Points

• Quince Therapeutics, Inc. (NASDAQ:QNCX) saw a 64.5% increase in short interest for July, totaling 740,900 shares as of July 15th.
• Wall Street analysts have mixed sentiments about Quince Therapeutics, with one downgrade to "sell" and multiple "buy" ratings, leading to a consensus rating of "Buy" and an average price target of $8.29.
• The company's recent performance indicates a debt-to-equity ratio of 0.82 and a current stock price of $1.69, with earnings per share reported at ($0.34).

Quince Therapeutics, Inc. (NASDAQ:QNCX - Get Free Report) was the recipient of a significant growth in short interest in July. As of July 15th, there was short interest totaling 740,900 shares, agrowthof64.5% from the June 30th total of 450,400 shares. Approximately2.1% of the company's stock are sold short. Based on an average daily volume of 370,400 shares, the days-to-cover ratio is presently 2.0 days. Based on an average daily volume of 370,400 shares, the days-to-cover ratio is presently 2.0 days. Approximately2.1% of the company's stock are sold short.

Wall Street Analyst Weigh In

QNCX has been the subject of several research analyst reports. Wall Street Zen downgraded Quince Therapeutics from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. JMP Securities initiated coverage on Quince Therapeutics in a report on Tuesday. They issued a "market outperform" rating and a $9.00 price objective for the company. Citizens Jmp initiated coverage on Quince Therapeutics in a report on Tuesday. They issued a "mkt outperform" rating and a $9.00 price objective for the company. Finally, D. Boral Capital reissued a "buy" rating and issued a $4.00 price objective on shares of Quince Therapeutics in a report on Thursday, July 17th. One research analyst has rated the stock with a sell rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $8.29.

Quince Therapeutics Price Performance

Shares of NASDAQ QNCX opened at $1.69 on Wednesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 4.05 and a quick ratio of 4.05. The stock has a fifty day moving average price of $1.51 and a 200 day moving average price of $1.36. Quince Therapeutics has a 1-year low of $0.51 and a 1-year high of $2.45. The company has a market cap of $90.62 million, a PE ratio of -1.22 and a beta of 1.02.

Quince Therapeutics (NASDAQ:QNCX - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.10). Sell-side analysts forecast that Quince Therapeutics will post -1.21 EPS for the current year.

Institutional Investors Weigh In On Quince Therapeutics

Hedge funds have recently modified their holdings of the stock. Two Sigma Investments LP acquired a new stake in shares of Quince Therapeutics during the fourth quarter worth $57,000. Northern Trust Corp lifted its holdings in shares of Quince Therapeutics by 48.5% during the fourth 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 period. Geode Capital Management LLC lifted its holdings in shares of Quince Therapeutics by 10.9% during the fourth 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 period. Shay Capital LLC raised its position in Quince Therapeutics by 60.8% in the fourth quarter. Shay Capital LLC now owns 276,799 shares of the company's stock worth $518,000 after acquiring an additional 104,616 shares in the last quarter. Finally, Intellectus Partners LLC acquired a new stake in Quince Therapeutics in the first quarter valued at $71,000. 30.75% of the stock is owned by institutional investors and hedge funds.

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.

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