Quince Therapeutics (NASDAQ:QNCX) Stock Price Down 1% – What’s Next?

Shares of Quince Therapeutics, Inc. (NASDAQ:QNCX) traded down 1% during trading on Monday . The stock traded as low as $1.00 and last traded at $1.00. 241,008 shares traded hands during trading, a decline of 88% from the average session volume of 2,019,652 shares. The stock had previously closed at $1.01.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Weiss Ratings lowered shares of Quince Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, May 1st. Wall Street Zen upgraded shares of Quince Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Five analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Quince Therapeutics currently has a consensus rating of “Reduce” and an average price target of $65.00.

Quince Therapeutics Stock Down 1.0%

The firm’s 50 day simple moving average is $1.19 and its 200-day simple moving average is $12.70. The company has a market capitalization of $16.30 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) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.30) by $0.71.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. OMERS ADMINISTRATION Corp bought a new position in Quince Therapeutics during the 4th quarter valued at $308,000. Marshall Wace LLP boosted its stake in Quince Therapeutics by 143.7% during the 4th quarter. Marshall Wace LLP now owns 511,858 shares of the company’s stock valued at $1,715,000 after acquiring an additional 301,813 shares during the last quarter. Hudson Bay Capital Management LP bought a new position in Quince Therapeutics during the 4th quarter valued at $213,000. Cerity Partners LLC bought a new position in Quince Therapeutics during the 4th quarter valued at $636,000. Finally, Goldman Sachs Group Inc. bought a new position in Quince Therapeutics during the 4th quarter valued at $769,000. 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.