Quince Therapeutics, Inc. (NASDAQ:QNCX) Sees Large Growth in Short Interest

Quince Therapeutics, Inc. (NASDAQ:QNCX) was the recipient of a large increase in short interest in 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 company are short sold. Based on an average daily trading volume, of 554,300 shares, the days-to-cover ratio is presently 4.2 days.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, CEO Dirk Thye purchased 77,500 shares of the stock in a transaction dated Thursday, August 29th. The shares were purchased at an average cost of $0.69 per share, with a total value of $53,475.00. Following the completion of the acquisition, the chief executive officer now owns 766,941 shares in the company, valued at $529,189.29. This represents a 11.24 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Charles S. Ryan acquired 48,387 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were acquired at an average cost of $0.65 per share, with a total value of $31,451.55. Following 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 position. The disclosure for this purchase can be found here. Insiders have bought a total of 158,887 shares of company stock valued at $105,609 in the last 90 days. 16.80% of the stock is currently owned by corporate insiders.

Quince Therapeutics Trading Down 2.1 %

NASDAQ:QNCX traded down $0.04 during trading hours on Friday, hitting $1.86. 864,070 shares of the stock traded hands, compared to its average volume of 228,697. The stock has a 50 day moving average price of $0.99 and a 200 day moving average price of $0.84. Quince Therapeutics has a 1 year low of $0.51 and a 1 year high of $2.14. The company has a debt-to-equity ratio of 0.29, a current ratio of 6.15 and a quick ratio of 6.15.

Quince Therapeutics (NASDAQ:QNCX) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.18) EPS for the quarter.

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.