Quince Therapeutics (NASDAQ:QNCX) Upgraded to Strong-Buy at Craig Hallum

Quince Therapeutics (NASDAQ:QNCX) was upgraded by research analysts at Craig Hallum to a “strong-buy” rating in a report issued on Thursday,Zacks.com reports.

Several other brokerages also recently issued reports on QNCX. Wall Street Zen downgraded shares of Quince Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Weiss Ratings cut shares of Quince Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday. Zacks Research upgraded shares of Quince Therapeutics to a “hold” rating in a research note on Wednesday, June 24th. Lifesci Capital raised Quince Therapeutics to a “strong-buy” rating in a report on Monday, June 29th. Finally, Oppenheimer initiated coverage on Quince Therapeutics in a research report on Wednesday, July 29th. They issued an “outperform” rating and a $82.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $260.00.

Quince Therapeutics Trading Up 3.8%

Shares of QNCX opened at $32.50 on Thursday. The firm has a market cap of $33.05 million, a PE ratio of -0.21 and a beta of 1.36. The company’s 50 day simple moving average is $23.55 and its 200-day simple moving average is $24.98. Quince Therapeutics has a 12-month low of $15.10 and a 12-month high of $909.98.

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

Institutional Trading of Quince Therapeutics

Institutional investors have recently modified their holdings of the business. Nantahala Capital Management LLC grew its holdings in Quince Therapeutics by 21.6% during the third quarter. Nantahala Capital Management LLC now owns 3,073,729 shares of the company’s stock worth $5,010,000 after acquiring an additional 545,427 shares during the period. Adage Capital Partners GP L.L.C. acquired a new stake in Quince Therapeutics in the fourth quarter valued at $7,538,000. Vanguard Group Inc. lifted its holdings in Quince Therapeutics by 21.3% in the third 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 period. Millennium Management LLC boosted its position 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 purchasing an additional 1,276,094 shares in the last quarter. Finally, Almitas Capital LLC boosted its position in shares of Quince Therapeutics by 88.0% during the 4th quarter. Almitas Capital LLC now owns 930,134 shares of the company’s stock worth $3,116,000 after purchasing an additional 435,356 shares in the last quarter. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

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.