Quince Therapeutics (NASDAQ:QNCX) Cut to “Hold” at D Boral Capital

D Boral Capital cut shares of Quince Therapeutics (NASDAQ:QNCX) from a strong-buy rating to a hold rating in a research report released on Friday morning,Zacks.com reports.

A number of other equities analysts also recently commented on the stock. D. Boral Capital reaffirmed a “buy” rating and set a $5.00 price objective on shares of Quince Therapeutics in a report on Thursday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Quince Therapeutics in a report on Monday, December 29th. Citizens Jmp lowered Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a research note on Friday. Citigroup cut Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a report on Friday. Finally, Brookline Capital Management downgraded Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $8.00.

Quince Therapeutics Trading Down 37.1%

QNCX opened at $0.17 on Friday. The stock’s 50 day simple moving average is $3.25 and its 200-day simple moving average is $2.25. The stock has a market cap of $9.47 million, a PE ratio of -0.14 and a beta of 1.23. Quince Therapeutics has a 1 year low of $0.16 and a 1 year high of $4.55.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. XTX Topco Ltd bought a new stake in Quince Therapeutics during the 2nd quarter worth approximately $37,000. GSA Capital Partners LLP raised its position 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 purchasing an additional 53,417 shares during the last quarter. Bridgeway Capital Management LLC boosted its stake in Quince Therapeutics by 20.9% in the second quarter. Bridgeway Capital Management LLC now owns 128,617 shares of the company’s stock worth $212,000 after purchasing an additional 22,200 shares in the last quarter. Rockefeller Capital Management L.P. bought a new stake in shares of Quince Therapeutics during the second quarter worth $280,000. Finally, Union Square Park Capital Management LLC increased its stake in shares of Quince Therapeutics by 86.0% in the third quarter. Union Square Park Capital Management LLC now owns 224,746 shares of the company’s stock valued at $366,000 after buying an additional 103,889 shares in the last quarter. 30.75% of the stock is owned by institutional investors and hedge funds.

Key Quince Therapeutics News

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.