Quince Therapeutics (NASDAQ:QNCX) Stock Rated Buy in New Coverage at Rodman & Renshaw

Research analysts at Rodman & Renshaw started coverage on shares of Quince Therapeutics (NASDAQ:QNCX) in a research note issued on Thursday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $70.00 price target on the stock. Rodman & Renshaw’s price target would suggest a potential upside of 125.81% from the company’s current price.

QNCX has been the topic of a number of other research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $70.00 target price on shares of Quince Therapeutics in a research note on Tuesday, August 18th. Weiss Ratings lowered Quince Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, August 26th. Oppenheimer assumed coverage on Quince Therapeutics in a research note on Wednesday, July 29th. They set an “outperform” rating and a $82.00 price objective on the stock. Leerink Partners assumed coverage on Quince Therapeutics in a research report on Wednesday, June 24th. They issued an “outperform” rating and a $80.00 target price for the company. Finally, Lifesci Capital raised Quince Therapeutics to a “strong-buy” rating in a research report on Monday, June 29th. Three investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $206.71.

Quince Therapeutics Trading Up 3.3%

QNCX stock traded up $1.00 during midday trading on Thursday, hitting $31.00. 10,336 shares of the company’s stock were exchanged, compared to its average volume of 202,843. The firm has a 50 day moving average price of $28.41 and a 200-day moving average price of $23.97. Quince Therapeutics has a 12-month low of $15.10 and a 12-month high of $909.98. The stock has a market capitalization of $31.62 million, a price-to-earnings ratio of -0.20 and a beta of 1.31.

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

Institutional Trading of Quince Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. 683 Capital Management LLC acquired a new position in Quince Therapeutics during the 4th quarter valued at approximately $798,000. Intellectus Partners LLC acquired a new position in shares of Quince Therapeutics during the fourth quarter valued at $179,000. Finally, BlackRock Inc. bought a new position in shares of Quince Therapeutics during the second quarter worth about $31,000. 30.75% of the stock is currently owned by institutional investors and hedge funds.

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).