Quince Therapeutics, Inc. (NASDAQ:QNCX) Receives Consensus Recommendation of “Hold” from Analysts

Quince Therapeutics, Inc. (NASDAQ:QNCX) has received a consensus recommendation of “Hold” from the ten brokerages that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $690.00.

Several brokerages recently commented on QNCX. Lifesci Capital raised Quince Therapeutics to a “strong-buy” rating in a research note on Monday, June 29th. Cantor Fitzgerald started coverage on shares of Quince Therapeutics in a research note on Tuesday, June 23rd. They issued an “overweight” rating and a $80.00 target price for the company. 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. Zacks Research upgraded shares of Quince Therapeutics to a “hold” rating in a research note on Wednesday, June 24th. Finally, Wall Street Zen upgraded shares of Quince Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 17th.

Hedge Funds Weigh In On Quince Therapeutics

Institutional investors have recently bought and sold shares of the stock. Superstring Capital Management LP bought a new stake in shares of Quince Therapeutics during the 4th quarter worth about $2,877,000. Quadrature Capital Ltd acquired a new stake in Quince Therapeutics in the 4th quarter worth approximately $268,000. 683 Capital Management LLC bought a new stake in Quince Therapeutics during the fourth quarter worth approximately $798,000. Almitas Capital LLC grew its holdings in Quince Therapeutics by 88.0% during the fourth quarter. Almitas Capital LLC now owns 930,134 shares of the company’s stock valued at $3,116,000 after purchasing an additional 435,356 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new position in Quince Therapeutics during the fourth quarter valued at approximately $7,538,000. 30.75% of the stock is currently owned by institutional investors.

Quince Therapeutics Stock Performance

Shares of NASDAQ:QNCX opened at $17.23 on Monday. The firm has a market cap of $16.89 million, a price-to-earnings ratio of -0.08 and a beta of 1.40. Quince Therapeutics has a 1 year low of $15.10 and a 1 year high of $909.98. The business has a fifty day simple moving average of $21.52 and a 200 day simple moving average of $166.85.

Quince Therapeutics (NASDAQ:QNCX) last issued its earnings results on Monday, May 11th. The company reported ($0.59) EPS for the quarter, beating analysts’ consensus estimates of ($26.00) by $25.41. On average, sell-side analysts forecast that Quince Therapeutics will post -8.6 EPS for the current year.

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.