Quince Therapeutics’ (QNCX) Market Perform Rating Reaffirmed at Citizens Jmp

Citizens Jmp reiterated their market perform rating on shares of Quince Therapeutics (NASDAQ:QNCX) in a research report report published on Friday, Marketbeat Ratings reports.

A number of other equities research analysts also recently weighed in on QNCX. Citigroup downgraded Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a research note on Friday. D. Boral Capital reiterated a “buy” rating and issued a $5.00 target price on shares of Quince Therapeutics in a research note on Thursday. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Quince Therapeutics in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $8.00.

Quince Therapeutics Trading Down 37.1%

NASDAQ QNCX opened at $0.17 on Friday. Quince Therapeutics has a 1 year low of $0.16 and a 1 year high of $4.55. The company has a market cap of $9.47 million, a PE ratio of -0.14 and a beta of 1.15. The stock’s 50-day moving average price is $3.25 and its two-hundred day moving average price is $2.25.

Quince Therapeutics (NASDAQ:QNCX) last released its earnings results on Wednesday, November 12th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.05). Research analysts forecast that Quince Therapeutics will post -1.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Quince Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in QNCX. Rockefeller Capital Management L.P. acquired a new stake in Quince Therapeutics during the second quarter valued at approximately $280,000. XTX Topco Ltd bought a new position in shares of Quince Therapeutics during the 2nd quarter worth approximately $37,000. Nantahala Capital Management LLC acquired a new stake in Quince Therapeutics in the 2nd quarter valued at $4,172,000. Bridgeway Capital Management LLC grew its position in Quince Therapeutics by 20.9% in 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. Finally, Vanguard Group Inc. raised its stake in Quince Therapeutics by 21.3% during the third quarter. Vanguard Group Inc. now owns 1,763,387 shares of the company’s stock worth $2,874,000 after acquiring an additional 309,349 shares in the last quarter. 30.75% of the stock is currently owned by institutional investors.

More Quince Therapeutics News

Here are the key news stories impacting Quince Therapeutics this week:

• Positive Sentiment: D. Boral Capital reaffirmed a “buy” rating and set a $5.00 price target, which implies large upside from current levels, but the note is unlikely to counteract the impact of clinical failure. D. Boral Capital Buy Rating
• Neutral Sentiment: Analysts at Citizens Jmp reaffirmed a “market perform” rating; this is informational but not a strong catalyst in the current risk-off environment. Citizens Jmp Market Perform
• Neutral Sentiment: Several trading halts occurred late in the session (news pending / LULD pauses), indicating extreme intraday volatility and contributing to disorderly price moves. (Exchange notices)
• Negative Sentiment: Multiple news outlets report Quince’s Phase 3 NEAT trial failed and the company is ending development of its lead drug candidate—this is the primary driver of the stock collapse and long-term value impairment. Quince stock tumbles after failed Phase 3
• Negative Sentiment: Coverage from MarketWatch/MSN describes the company ending development of its lead candidate and the stock plunging more than 90%, reinforcing that the trial outcome triggered the sell-off. Quince Ends Development; Shares Slide
• Negative Sentiment: Unusual options activity: investors bought ~3,396 put contracts (a 107% increase over average), signaling aggressive downside bets and likely adding selling pressure.
• Negative Sentiment: The company issued a Business Wire release with topline Phase 3 results; market interpretation of those toplines as unsuccessful triggered the swift reassessment of future cash flows and clinical value. Business Wire Topline Results

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.