Quince Therapeutics, Inc. (NASDAQ:QNCX) Short Interest Up 23.0% in October

Quince Therapeutics, Inc. (NASDAQ:QNCX) was the target of 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. Currently, 7.3% of the shares of the stock are sold short. Based on an average daily volume of 554,300 shares, the days-to-cover ratio is currently 4.2 days.

Quince Therapeutics Trading Down 6.3 %

Shares of NASDAQ QNCX traded down $0.12 during trading on Friday, hitting $1.78. 1,006,417 shares of the company traded hands, compared to its average volume of 1,393,507. The firm has a market capitalization of $78.32 million, a P/E ratio of -1.44 and a beta of 0.71. The company has a quick ratio of 6.15, a current ratio of 9.53 and a debt-to-equity ratio of 0.33. The company has a 50-day moving average price of $1.01 and a 200-day moving average price of $0.85. Quince Therapeutics has a 1 year low of $0.51 and a 1 year high of $2.14.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Quince Therapeutics

In other news, President Charles S. Ryan purchased 48,387 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was acquired at an average price of $0.65 per share, with a total value of $31,451.55. Following the purchase, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Dirk Thye acquired 77,500 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was acquired at an average cost of $0.69 per share, for a total transaction of $53,475.00. Following the completion of the purchase, the chief executive officer now owns 766,941 shares in the company, valued at $529,189.29. The trade was a 11.24 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 158,887 shares of company stock valued at $105,609 in the last ninety days. 16.80% of the stock is currently 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 raised its holdings in shares of Quince Therapeutics, Inc. (NASDAQ:QNCX) by 24.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 339,125 shares of the company’s stock after buying an additional 66,170 shares during the period. Geode Capital Management LLC owned about 0.78% of Quince Therapeutics worth $263,000 at the end of the most recent reporting period. 30.75% of the stock is owned by hedge funds and other institutional investors.

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.