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

Quince Therapeutics, Inc. (NASDAQ:QNCX) has been assigned a consensus recommendation of “Reduce” from the seven brokerages that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $6.50.

QNCX has been the topic of a number of recent research reports. D. Boral Capital downgraded shares of Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. Citigroup downgraded shares of Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a research report on Friday, January 30th. lowered shares of Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 29th. Lucid Cap Mkts cut shares of Quince Therapeutics from a “strong-buy” rating to a “strong sell” rating in a report on Friday, January 30th. Finally, Maxim Group downgraded Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th.

Quince Therapeutics Price Performance

Quince Therapeutics stock opened at $0.09 on Friday. The company has a market cap of $4.88 million, a PE ratio of -0.07 and a beta of 1.28. The company has a fifty day moving average price of $0.65 and a two-hundred day moving average price of $1.82. Quince Therapeutics has a 12 month low of $0.08 and a 12 month high of $4.55.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nantahala Capital Management LLC bought a new position in Quince Therapeutics during the 2nd quarter worth $4,172,000. Adage Capital Partners GP L.L.C. acquired a new stake in Quince Therapeutics in the fourth quarter worth $7,538,000. Millennium Management LLC lifted its stake in Quince Therapeutics by 1,152.9% in the third quarter. Millennium Management LLC now owns 1,386,776 shares of the company’s stock valued at $2,260,000 after buying an additional 1,276,094 shares during the last quarter. Superstring Capital Management LP bought a new stake in Quince Therapeutics in the fourth quarter valued at $2,877,000. Finally, ADAR1 Capital Management LLC boosted its holdings in shares of Quince Therapeutics by 442.1% during the third quarter. ADAR1 Capital Management LLC now owns 775,034 shares of the company’s stock valued at $1,263,000 after acquiring an additional 632,076 shares during the period. Institutional investors and hedge funds own 30.75% of the company’s stock.

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.