Quince Therapeutics (NASDAQ:QNCX) Issues Earnings Results, Beats Expectations By $15.71 EPS

Quince Therapeutics (NASDAQ:QNCX) issued its earnings results on Friday. The company reported ($12.31) EPS for the quarter, topping the consensus estimate of ($28.02) by $15.71, FiscalAI reports.

Quince Therapeutics Trading Up 5.0%

NASDAQ QNCX traded up $1.63 during trading hours on Friday, reaching $34.04. 26,046 shares of the stock traded hands, compared to its average volume of 35,861. The stock has a 50 day simple moving average of $20.73 and a two-hundred day simple moving average of $37.70. Quince Therapeutics has a 1 year low of $15.10 and a 1 year high of $909.98.

Hedge Funds Weigh In On Quince Therapeutics

A number of large investors have recently modified their holdings of QNCX. XTX Topco Ltd bought a new stake in Quince Therapeutics in the 2nd quarter worth approximately $37,000. Hudson Bay Capital Management LP purchased a new position in shares of Quince Therapeutics during the fourth quarter worth approximately $213,000. Quadrature Capital Ltd bought a new stake in shares of Quince Therapeutics in the 4th quarter worth approximately $268,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Quince Therapeutics in the 4th quarter worth approximately $308,000. Finally, Bridgeway Capital Management LLC boosted its stake in shares of Quince Therapeutics by 20.9% in the 2nd quarter. Bridgeway Capital Management LLC now owns 128,617 shares of the company’s stock valued at $212,000 after purchasing an additional 22,200 shares in the last quarter. 30.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on QNCX. Zacks Research raised shares of Quince Therapeutics to a “hold” rating in a report on Wednesday, June 24th. Cantor Fitzgerald began coverage on Quince Therapeutics in a research note on Tuesday, June 23rd. They issued an “overweight” rating and a $80.00 target price on the stock. Weiss Ratings upgraded Quince Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday. Leerink Partners assumed coverage on Quince Therapeutics in a report on Wednesday, June 24th. They set an “outperform” rating and a $80.00 price objective for the company. Finally, Oppenheimer initiated coverage on shares of Quince Therapeutics in a research note on Wednesday, July 29th. They issued an “outperform” rating and a $82.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $310.50.

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.