Quince Therapeutics’ (QNCX) “Buy” Rating Reiterated at D. Boral Capital

D. Boral Capital restated their buy rating on shares of Quince Therapeutics (NASDAQ:QNCX) in a research report released on Thursday,Benzinga reports. They currently have a $5.00 price target on the stock.

Other analysts have also recently issued reports about the company. Citigroup reiterated a “market outperform” rating on shares of Quince Therapeutics in a report on Tuesday, January 6th. Weiss Ratings restated a “sell (e+)” rating on shares of Quince Therapeutics in a research report on Monday, December 29th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $8.00.

Quince Therapeutics Stock Down 37.1%

NASDAQ QNCX opened at $0.17 on Thursday. The company has a market capitalization of $9.47 million, a price-to-earnings ratio of -0.14 and a beta of 1.15. Quince Therapeutics has a twelve month low of $0.16 and a twelve month high of $4.55. The stock has a fifty day simple moving average of $3.25 and a 200 day simple moving average of $2.25.

Quince Therapeutics (NASDAQ:QNCX) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.05). Research analysts expect that Quince Therapeutics will post -1.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Quince Therapeutics

A number of large investors have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. bought a new stake in Quince Therapeutics in the second quarter valued at $280,000. XTX Topco Ltd acquired a new stake in shares of Quince Therapeutics in the 2nd quarter valued at about $37,000. Nantahala Capital Management LLC bought a new stake in Quince Therapeutics in the 2nd quarter valued at about $4,172,000. Bridgeway Capital Management LLC raised its stake in Quince Therapeutics by 20.9% during the 2nd quarter. Bridgeway Capital Management LLC now owns 128,617 shares of the company’s stock worth $212,000 after buying an additional 22,200 shares during the period. Finally, Vanguard Group Inc. raised its stake in 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 buying an additional 309,349 shares during the period. 30.75% of the stock is currently owned by institutional investors and hedge funds.

Quince Therapeutics News Roundup

Here are the key news stories impacting Quince Therapeutics this week:

• Positive Sentiment: D. Boral Capital reaffirmed a “buy” rating and set a $5.00 price target, which implies large upside from current levels, but the note is unlikely to counteract the impact of clinical failure. D. Boral Capital Buy Rating
• Neutral Sentiment: Analysts at Citizens Jmp reaffirmed a “market perform” rating; this is informational but not a strong catalyst in the current risk-off environment. Citizens Jmp Market Perform
• Neutral Sentiment: Several trading halts occurred late in the session (news pending / LULD pauses), indicating extreme intraday volatility and contributing to disorderly price moves. (Exchange notices)
• Negative Sentiment: Multiple news outlets report Quince’s Phase 3 NEAT trial failed and the company is ending development of its lead drug candidate—this is the primary driver of the stock collapse and long-term value impairment. Quince stock tumbles after failed Phase 3
• Negative Sentiment: Coverage from MarketWatch/MSN describes the company ending development of its lead candidate and the stock plunging more than 90%, reinforcing that the trial outcome triggered the sell-off. Quince Ends Development; Shares Slide
• Negative Sentiment: Unusual options activity: investors bought ~3,396 put contracts (a 107% increase over average), signaling aggressive downside bets and likely adding selling pressure.
• Negative Sentiment: The company issued a Business Wire release with topline Phase 3 results; market interpretation of those toplines as unsuccessful triggered the swift reassessment of future cash flows and clinical value. Business Wire Topline Results

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.