Quince Therapeutics, Inc. (NASDAQ:QNCX) Receives Consensus Recommendation of “Hold” from Brokerages

Quince Therapeutics, Inc. (NASDAQ:QNCX) has been assigned an average rating of “Hold” from the twelve ratings firms that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $260.00.

QNCX has been the subject of several recent analyst reports. Oppenheimer began coverage on shares of Quince Therapeutics in a research note on Wednesday, July 29th. They set an “outperform” rating and a $82.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $70.00 target price on shares of Quince Therapeutics in a research note on Tuesday, August 18th. Weiss Ratings upgraded Quince Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 12th. Wall Street Zen lowered Quince Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Zacks Research upgraded Quince Therapeutics to a “hold” rating in a report on Wednesday, June 24th.

Quince Therapeutics Stock Down 1.3%

Shares of NASDAQ QNCX opened at $33.48 on Tuesday. The firm’s fifty day moving average is $22.75 and its 200 day moving average is $24.94. Quince Therapeutics has a 52 week low of $15.10 and a 52 week high of $909.98. The company has a market cap of $34.05 million, a price-to-earnings ratio of -0.21 and a beta of 1.36.

Quince Therapeutics (NASDAQ:QNCX) last announced its quarterly earnings results on Friday, August 14th. The company reported ($12.31) earnings per share for the quarter, beating the consensus estimate of ($28.02) by $15.71.

Institutional Investors Weigh In On Quince Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Nantahala Capital Management LLC raised its stake in Quince Therapeutics by 21.6% in the third quarter. Nantahala Capital Management LLC now owns 3,073,729 shares of the company’s stock worth $5,010,000 after buying an additional 545,427 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in shares of Quince Therapeutics during the 4th quarter worth approximately $7,538,000. Vanguard Group Inc. grew its holdings 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 worth $2,874,000 after acquiring an additional 309,349 shares during the period. Millennium Management LLC grew its holdings in shares of Quince Therapeutics by 1,152.9% during the 3rd quarter. Millennium Management LLC now owns 1,386,776 shares of the company’s stock worth $2,260,000 after acquiring an additional 1,276,094 shares during the period. Finally, Almitas Capital LLC raised its position in shares of Quince Therapeutics by 88.0% in the 4th quarter. Almitas Capital LLC now owns 930,134 shares of the company’s stock worth $3,116,000 after acquiring an additional 435,356 shares in the last quarter. 30.75% of the stock is owned by hedge funds and other 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.