Quince Therapeutics (NASDAQ:QNCX) Lowered to “Hold” Rating by Brookline Capital Management

Brookline Capital Management downgraded shares of Quince Therapeutics (NASDAQ:QNCX) from a strong-buy rating to a hold rating in a research note published on Thursday,Zacks.com reports.

A number of other equities analysts also recently commented on QNCX. Citizens Jmp downgraded shares of Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a research report on Friday. Citigroup lowered shares of Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a research note on Friday. Weiss Ratings restated a “sell (e+)” rating on shares of Quince Therapeutics in a research report on Monday, December 29th. Finally, D. Boral Capital reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Quince Therapeutics in a report on Thursday. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $8.00.

Quince Therapeutics Trading Down 37.1%

Quince Therapeutics stock opened at $0.17 on Thursday. The stock has a 50 day moving average of $3.25 and a two-hundred day moving average of $2.25. Quince Therapeutics has a twelve month low of $0.16 and a twelve month high of $4.55. The stock has a market capitalization of $9.47 million, a price-to-earnings ratio of -0.14 and a beta of 1.15.

Quince Therapeutics (NASDAQ:QNCX) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.05). Equities analysts predict that Quince Therapeutics will post -1.21 earnings per share for the current year.

Institutional Trading of Quince Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. Nantahala Capital Management LLC acquired a new position in Quince Therapeutics during the second quarter worth about $4,172,000. Millennium Management LLC boosted its stake in shares of Quince Therapeutics by 1,152.9% during the 3rd quarter. Millennium Management LLC now owns 1,386,776 shares of the company’s stock worth $2,260,000 after acquiring an additional 1,276,094 shares in the last quarter. ADAR1 Capital Management LLC boosted its stake in shares of Quince Therapeutics by 442.1% during the 3rd quarter. ADAR1 Capital Management LLC now owns 775,034 shares of the company’s stock worth $1,263,000 after acquiring an additional 632,076 shares in the last quarter. Almitas Capital LLC acquired a new stake in shares of Quince Therapeutics in the 3rd quarter worth approximately $806,000. Finally, Vanguard Group Inc. increased its stake in Quince Therapeutics by 21.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,763,387 shares of the company’s stock valued at $2,874,000 after purchasing an additional 309,349 shares in the last quarter. Hedge funds and other institutional investors own 30.75% of the company’s stock.

Trending Headlines about Quince Therapeutics

Here are the key news stories impacting Quince Therapeutics this week:

• Positive Sentiment: D. Boral Capital reaffirmed a “buy” rating and set a $5.00 price target, which implies large upside from current levels, but the note is unlikely to counteract the impact of clinical failure. D. Boral Capital Buy Rating
• Neutral Sentiment: Analysts at Citizens Jmp reaffirmed a “market perform” rating; this is informational but not a strong catalyst in the current risk-off environment. Citizens Jmp Market Perform
• Neutral Sentiment: Several trading halts occurred late in the session (news pending / LULD pauses), indicating extreme intraday volatility and contributing to disorderly price moves. (Exchange notices)
• Negative Sentiment: Multiple news outlets report Quince’s Phase 3 NEAT trial failed and the company is ending development of its lead drug candidate—this is the primary driver of the stock collapse and long-term value impairment. Quince stock tumbles after failed Phase 3
• Negative Sentiment: Coverage from MarketWatch/MSN describes the company ending development of its lead candidate and the stock plunging more than 90%, reinforcing that the trial outcome triggered the sell-off. Quince Ends Development; Shares Slide
• Negative Sentiment: Unusual options activity: investors bought ~3,396 put contracts (a 107% increase over average), signaling aggressive downside bets and likely adding selling pressure.
• Negative Sentiment: The company issued a Business Wire release with topline Phase 3 results; market interpretation of those toplines as unsuccessful triggered the swift reassessment of future cash flows and clinical value. Business Wire Topline Results

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. Its AIDE technology platform, a drug/device combination platform that uses an automated process to encapsulate a drug into a patient's own red blood cells, as well as consists of an automated equipment the RCL, a sterile single-use consumable treatment kit comprising EryKit, Syringe Kit, drugs, and process solutions.