Quince Therapeutics Shares Set to Reverse Split on Tuesday, June 30th (NASDAQ:QNCX)

Quince Therapeutics, Inc. (NASDAQ:QNCX) shares are going to reverse split before the market opens on Tuesday, June 30th. The 1-20 reverse split was announced on Friday, June 26th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, June 29th.

Quince Therapeutics Stock Down 3.3%

NASDAQ:QNCX traded down $0.03 on Friday, hitting $0.94. The stock had a trading volume of 321,432 shares, compared to its average volume of 5,849,831. Quince Therapeutics has a 52 week low of $0.79 and a 52 week high of $45.50. The business’s fifty day moving average is $1.13 and its 200 day moving average is $10.01. The company has a market cap of $15.38 million, a PE ratio of -0.09 and a beta of 1.40.

Quince Therapeutics (NASDAQ:QNCX) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.59) EPS for the quarter, beating the consensus estimate of ($1.30) by $0.71. Equities analysts predict that Quince Therapeutics will post -0.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on QNCX shares. Wall Street Zen upgraded shares of Quince Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Weiss Ratings downgraded shares of Quince Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, May 1st. Leerink Partners started coverage on shares of Quince Therapeutics in a report on Wednesday. They issued an “outperform” rating and a $4.00 target price on the stock. Zacks Research raised shares of Quince Therapeutics to a “hold” rating in a research report on Wednesday. Finally, Cantor Fitzgerald started coverage on Quince Therapeutics in a research note on Tuesday. They set an “overweight” rating and a $4.00 price target for the company. Two research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $34.50.

Hedge Funds Weigh In On Quince Therapeutics

Hedge funds have recently bought and sold shares of the company. Bridgeway Capital Management LLC raised its holdings 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 purchasing an additional 22,200 shares during the last quarter. XTX Topco Ltd bought a new stake in Quince Therapeutics in the 2nd quarter worth about $37,000. Intellectus Partners LLC bought a new stake in Quince Therapeutics in the 4th quarter worth about $179,000. GSA Capital Partners LLP increased its stake in Quince Therapeutics by 158.0% in the 3rd quarter. GSA Capital Partners LLP now owns 87,235 shares of the company’s stock valued at $142,000 after buying an additional 53,417 shares during the last quarter. Finally, Hudson Bay Capital Management LP purchased a new stake in Quince Therapeutics in the 4th quarter valued at about $213,000. 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.