Quince Therapeutics (NASDAQ:QNCX) Stock Price Down 1% – Here’s Why

Quince Therapeutics, Inc. (NASDAQ:QNCX) shares fell 1% on Monday . The stock traded as low as $1.00 and last traded at $1.00. 241,008 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 2,019,652 shares. The stock had previously closed at $1.01.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on QNCX. Weiss Ratings lowered shares of Quince Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, May 1st. Wall Street Zen raised shares of Quince Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Five analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $65.00.

Quince Therapeutics Trading Down 6.2%

The business’s fifty day simple moving average is $1.20 and its 200 day simple moving average is $12.57.

Quince Therapeutics (NASDAQ:QNCX) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.59) EPS for the quarter, topping analysts’ consensus estimates of ($1.30) by $0.71.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in QNCX. XTX Topco Ltd acquired a new position in Quince Therapeutics during the 2nd quarter valued at about $37,000. Nantahala Capital Management LLC acquired a new position in Quince Therapeutics during the 2nd quarter valued at about $4,172,000. Bridgeway Capital Management LLC lifted 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 valued at $212,000 after purchasing an additional 22,200 shares during the period. Vanguard Group Inc. lifted its position in Quince Therapeutics by 21.3% during 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 during the period. Finally, GSA Capital Partners LLP lifted its position in Quince Therapeutics by 158.0% during the 3rd quarter. GSA Capital Partners LLP now owns 87,235 shares of the company’s stock valued at $142,000 after purchasing an additional 53,417 shares during the period. 30.75% of the stock is currently owned by institutional investors and hedge funds.

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.