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

Quince Therapeutics (NASDAQ:QNCX) was upgraded by investment analysts at Zacks Research to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

Several other analysts also recently weighed in on the company. Leerink Partners began coverage on Quince Therapeutics in a report on Wednesday. They issued an “outperform” rating and a $4.00 price objective for the company. Cantor Fitzgerald initiated coverage on shares of Quince Therapeutics in a research note on Tuesday. They set an “overweight” rating and a $4.00 price objective for the company. Weiss Ratings downgraded Quince Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, May 1st. Finally, Wall Street Zen upgraded shares of Quince Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $34.50.

Quince Therapeutics Stock Up 2.6%

QNCX stock opened at $0.98 on Wednesday. The company has a fifty day simple moving average of $1.13 and a two-hundred day simple moving average of $10.01. Quince Therapeutics has a 52 week low of $0.79 and a 52 week high of $45.50. The firm has a market capitalization of $15.91 million, a P/E ratio of -0.09 and a beta of 1.40.

Quince Therapeutics (NASDAQ:QNCX) last announced its earnings results on Monday, May 11th. The company reported ($0.59) EPS for the quarter, topping analysts’ consensus estimates of ($1.30) by $0.71. As a group, analysts anticipate that Quince Therapeutics will post -0.43 EPS for the current year.

Institutional Trading of Quince Therapeutics

Several hedge funds have recently added to or reduced their stakes in QNCX. Nantahala Capital Management LLC acquired a new stake in shares of Quince Therapeutics during the 2nd quarter worth about $4,172,000. Adage Capital Partners GP L.L.C. purchased a new position in Quince Therapeutics during the 4th quarter worth $7,538,000. Millennium Management LLC lifted its position in Quince Therapeutics by 1,152.9% in the third quarter. Millennium Management LLC now owns 1,386,776 shares of the company’s stock valued at $2,260,000 after purchasing an additional 1,276,094 shares during the period. Superstring Capital Management LP acquired a new stake in shares of Quince Therapeutics in the 4th quarter valued at approximately $2,877,000. Finally, ADAR1 Capital Management LLC boosted its position in shares of Quince Therapeutics by 442.1% during the 3rd quarter. ADAR1 Capital Management LLC now owns 775,034 shares of the company’s stock worth $1,263,000 after purchasing an additional 632,076 shares in the last quarter. Institutional investors and hedge funds own 30.75% of the company’s stock.

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.