Quince Therapeutics (NASDAQ:QNCX) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Quince Therapeutics (NASDAQ:QNCX) to a hold rating in a report issued on Wednesday morning,Zacks.com reports.

Several other research analysts have also recently weighed in on QNCX. Weiss Ratings cut 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 Quince Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Cantor Fitzgerald initiated coverage on Quince Therapeutics in a research report on Tuesday. They set an “overweight” rating and a $4.00 target price on the stock. Finally, Leerink Partners initiated coverage on Quince Therapeutics in a report on Wednesday. They set an “outperform” rating and a $4.00 price target for the company. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $34.50.

Quince Therapeutics Stock Performance

Quince Therapeutics stock opened at $0.98 on Wednesday. The stock has a fifty day moving average of $1.13 and a 200 day moving average of $10.01. Quince Therapeutics has a one year low of $0.79 and a one year high of $45.50. The stock has a market cap of $15.91 million, a PE ratio of -0.09 and a beta of 1.40.

Quince Therapeutics (NASDAQ:QNCX) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.59) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.30) by $0.71. As a group, sell-side analysts predict that Quince Therapeutics will post -0.43 EPS for the current fiscal year.

Institutional Trading of Quince Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. XTX Topco Ltd purchased a new position in shares of Quince Therapeutics during the 2nd quarter valued at $37,000. Nantahala Capital Management LLC bought a new stake in Quince Therapeutics during the second quarter valued at about $4,172,000. Bridgeway Capital Management LLC raised its holdings in Quince Therapeutics by 20.9% during the second quarter. Bridgeway Capital Management LLC now owns 128,617 shares of the company’s stock valued at $212,000 after acquiring an additional 22,200 shares during the period. Vanguard Group Inc. lifted its position in shares of Quince Therapeutics by 21.3% in the third quarter. Vanguard Group Inc. now owns 1,763,387 shares of the company’s stock valued at $2,874,000 after acquiring an additional 309,349 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its position in shares of Quince Therapeutics by 158.0% in the third quarter. GSA Capital Partners LLP now owns 87,235 shares of the company’s stock valued at $142,000 after acquiring an additional 53,417 shares in the last quarter. 30.75% of the stock is currently owned by institutional investors.

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.