Quince Therapeutics (NASDAQ:QNCX) Coverage Initiated at Oppenheimer

Oppenheimer assumed coverage on shares of Quince Therapeutics (NASDAQ:QNCX) in a research note issued on Wednesday. The firm set an “outperform” rating and a $82.00 price target on the stock. Oppenheimer’s price objective suggests a potential upside of 323.34% from the company’s current price.

A number of other research analysts have also recently commented on the stock. Leerink Partners started coverage on shares of Quince Therapeutics in a research report on Wednesday, June 24th. They set an “outperform” rating and a $80.00 target price on the stock. Cantor Fitzgerald started coverage on shares of Quince Therapeutics in a research report on Tuesday, June 23rd. They issued an “overweight” rating and a $80.00 price objective for the company. Zacks Research upgraded Quince Therapeutics to a “hold” rating in a research note on Wednesday, June 24th. Weiss Ratings downgraded Quince Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, May 1st. Finally, Lifesci Capital upgraded Quince Therapeutics to a “strong-buy” rating in a report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Quince Therapeutics presently has an average rating of “Hold” and an average target price of $568.40.

Quince Therapeutics Price Performance

Shares of QNCX opened at $19.37 on Wednesday. Quince Therapeutics has a 12 month low of $15.10 and a 12 month high of $909.98. The stock’s 50-day moving average is $19.32 and its two-hundred day moving average is $87.85. The stock has a market cap of $18.98 million, a PE ratio of -0.09 and a beta of 1.40.

Quince Therapeutics (NASDAQ:QNCX) last posted its earnings results on Monday, May 11th. The company reported ($0.59) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($26.00) by $25.41. On average, research analysts anticipate that Quince Therapeutics will post -0.96 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Nantahala Capital Management LLC increased its stake in shares of Quince Therapeutics by 21.6% in the third quarter. Nantahala Capital Management LLC now owns 3,073,729 shares of the company’s stock valued at $5,010,000 after purchasing an additional 545,427 shares during the period. Adage Capital Partners GP L.L.C. acquired a new stake in Quince Therapeutics during the fourth quarter valued at approximately $7,538,000. Vanguard Group Inc. lifted its position in shares of 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 acquiring an additional 309,349 shares during the last quarter. Millennium Management LLC boosted its position in shares of Quince Therapeutics by 1,152.9% in the 3rd 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. Finally, Almitas Capital LLC raised its stake in Quince Therapeutics by 88.0% during the 4th quarter. Almitas Capital LLC now owns 930,134 shares of the company’s stock valued at $3,116,000 after purchasing an additional 435,356 shares during the period. 30.75% of the stock is owned by institutional investors and hedge funds.

About Quince Therapeutics

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.