Quince Therapeutics, Inc. (NASDAQ:QNCX) Given Consensus Rating of “Hold” by Brokerages

Shares of Quince Therapeutics, Inc. (NASDAQ:QNCX) have been given a consensus rating of “Hold” by the eleven ratings firms that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $568.40.

QNCX has been the subject of several research analyst reports. Leerink Partners started coverage on shares of Quince Therapeutics in a report on Wednesday, June 24th. They issued an “outperform” rating and a $80.00 price target for the company. Zacks Research upgraded shares of Quince Therapeutics to a “hold” rating in a report on Wednesday, June 24th. Weiss Ratings lowered shares of Quince Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, May 1st. Wall Street Zen raised shares of Quince Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Finally, Cantor Fitzgerald started coverage on Quince Therapeutics in a report on Tuesday, June 23rd. They set an “overweight” rating and a $80.00 target price for the company.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. XTX Topco Ltd acquired a new stake in Quince Therapeutics in the 2nd quarter valued at approximately $37,000. Intellectus Partners LLC bought a new stake in Quince Therapeutics in the 4th quarter valued at approximately $179,000. Bridgeway Capital Management LLC boosted its position in Quince Therapeutics by 20.9% during the 2nd quarter. Bridgeway Capital Management LLC now owns 128,617 shares of the company’s stock worth $212,000 after acquiring an additional 22,200 shares during the last quarter. Hudson Bay Capital Management LP acquired a new position in Quince Therapeutics during the 4th quarter worth approximately $213,000. Finally, Quadrature Capital Ltd acquired a new position in Quince Therapeutics during the 4th quarter worth approximately $268,000. 30.75% of the stock is owned by institutional investors and hedge funds.

Quince Therapeutics Price Performance

NASDAQ QNCX opened at $23.03 on Friday. Quince Therapeutics has a one year low of $15.10 and a one year high of $909.98. The firm has a market cap of $22.57 million, a P/E ratio of -0.11 and a beta of 1.40. The stock’s 50-day moving average is $19.36 and its 200-day moving average is $80.60.

Quince Therapeutics (NASDAQ:QNCX) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.59) earnings per share (EPS) for the quarter, beating the consensus estimate of ($26.00) by $25.41. Equities analysts anticipate that Quince Therapeutics will post -0.96 EPS for the current year.

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. 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.