Quince Therapeutics (NASDAQ:QNCX) Stock Moved Up to “Strong-Buy” by Rodman & Renshaw

Quince Therapeutics (NASDAQ:QNCX) was upgraded by investment analysts at Rodman & Renshaw to a “strong-buy” rating in a research report issued on Thursday, Zacks reports.

A number of other brokerages also recently weighed in on QNCX. Zacks Research upgraded Quince Therapeutics to a “hold” rating in a report on Wednesday, June 24th. Weiss Ratings downgraded Quince Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, August 26th. Citizens Jmp upgraded Quince Therapeutics from a “market perform” rating to an “outperform” rating and set a $77.00 target price on the stock in a research report on Tuesday. Lifesci Capital raised Quince Therapeutics to a “strong-buy” rating in a research note on Monday, June 29th. Finally, Citigroup raised Quince Therapeutics from a “market perform” rating to an “outperform” rating in a research note on Tuesday. Three analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $206.71.

Quince Therapeutics Stock Performance

Shares of NASDAQ QNCX opened at $30.00 on Thursday. The company has a market capitalization of $30.60 million, a P/E ratio of -0.19 and a beta of 1.31. Quince Therapeutics has a 52-week low of $15.10 and a 52-week high of $909.98. The company’s 50 day moving average price is $28.41 and its 200-day moving average price is $23.97.

Quince Therapeutics (NASDAQ:QNCX) last posted its quarterly earnings data on Friday, August 14th. The company reported ($12.31) earnings per share for the quarter, topping the consensus estimate of ($28.02) by $15.71.

Hedge Funds Weigh In On Quince Therapeutics

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in Quince Therapeutics in the 2nd quarter valued at about $31,000. 683 Capital Management LLC bought a new position in Quince Therapeutics in the fourth quarter worth approximately $798,000. Finally, Intellectus Partners LLC acquired a new stake in Quince Therapeutics in the fourth quarter valued at approximately $179,000. Institutional investors and hedge funds own 30.75% of the company’s stock.

About Quince Therapeutics

Quince Therapeutics, Inc is a clinical-stage biotechnology company focused on developing treatments for rare diseases. The company’s research centers on its erythrocyte-derived extracellular vesicle (EEV) platform, which uses patients’ red blood cells to encapsulate and deliver therapeutic compounds.

Quince’s lead investigational product is eDSP, formerly known as EryDex, an autologous red-blood-cell-based formulation of dexamethasone sodium phosphate being developed for ataxia-telangiectasia (A-T).