Short Interest in Quince Therapeutics, Inc. (NASDAQ:QNCX) Increases By 23.0%

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

Wall Street Analyst Weigh In

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

Quince Therapeutics Price Performance

NASDAQ:QNCX traded down $0.04 during mid-day trading on Friday, hitting $1.86. The stock had a trading volume of 864,070 shares, compared to its average volume of 228,697. Quince Therapeutics has a twelve month low of $0.51 and a twelve month high of $2.14. The company has a current ratio of 6.15, a quick ratio of 6.15 and a debt-to-equity ratio of 0.29. The company’s 50 day simple moving average is $0.99 and its 200 day simple moving average is $0.84.

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

Insider Buying and Selling

In other Quince Therapeutics news, President Charles S. Ryan bought 48,387 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was bought at an average cost of $0.65 per share, with a total value of $31,451.55. Following the completion of the transaction, the president now directly owns 122,461 shares of the company’s stock, valued at approximately $79,599.65. The trade was a 65.32 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dirk Thye bought 77,500 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were bought at an average cost of $0.69 per share, with a total value of $53,475.00. Following the transaction, the chief executive officer now directly owns 766,941 shares of the company’s stock, valued at approximately $529,189.29. This trade represents a 11.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 158,887 shares of company stock worth $105,609 over the last quarter. 16.80% of the stock is owned by company insiders.

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.