Quince Therapeutics (NASDAQ:QNCX) Releases Quarterly Earnings Results, Beats Expectations By $15.71 EPS

Quince Therapeutics (NASDAQ:QNCX) announced its quarterly earnings results on Friday. The company reported ($12.31) EPS for the quarter, topping the consensus estimate of ($28.02) by $15.71, FiscalAI reports.

Quince Therapeutics Price Performance

Shares of QNCX opened at $34.04 on Friday. Quince Therapeutics has a 1-year low of $15.10 and a 1-year high of $909.98. The stock has a market cap of $34.72 million, a price-to-earnings ratio of -0.16 and a beta of 1.36. The firm has a 50 day simple moving average of $21.01 and a 200-day simple moving average of $37.68.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on QNCX shares. Zacks Research raised Quince Therapeutics to a “hold” rating in a report on Wednesday, June 24th. Wall Street Zen raised Quince Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Lifesci Capital upgraded Quince Therapeutics to a “strong-buy” rating in a research report on Monday, June 29th. Cantor Fitzgerald started coverage on Quince Therapeutics in a research note on Tuesday, June 23rd. They set an “overweight” rating and a $80.00 price target for the company. Finally, Weiss Ratings raised Quince Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Quince Therapeutics currently has an average rating of “Hold” and an average target price of $310.50.

Institutional Investors Weigh In On Quince Therapeutics

A number of large investors have recently bought and sold shares of the stock. XTX Topco Ltd purchased a new position in Quince Therapeutics during the second quarter worth $37,000. Hudson Bay Capital Management LP acquired a new position in shares of Quince Therapeutics in the fourth quarter worth $213,000. Quadrature Capital Ltd purchased a new stake in shares of Quince Therapeutics in the fourth quarter valued at $268,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of Quince Therapeutics in the fourth quarter valued at $308,000. Finally, Bridgeway Capital Management LLC lifted its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 30.75% of the company’s stock.

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.