Analysts Set Quince Therapeutics, Inc. (NASDAQ:QNCX) Target Price at $7.67

Shares of Quince Therapeutics, Inc. (NASDAQ:QNCX) have received a consensus recommendation of “Reduce” from the nine brokerages that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $7.6667.

A number of research analysts recently weighed in on the stock. Citizens Jmp lowered shares of Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a report on Friday, January 30th. D. Boral Capital downgraded shares of Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Lucid Cap Mkts cut shares of Quince Therapeutics from a “strong-buy” rating to a “strong sell” rating in a research note on Friday, January 30th. Brookline Capital Acquisition downgraded shares of Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 29th. Finally, Citigroup cut shares of Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a research report on Friday, January 30th.

Quince Therapeutics Price Performance

NASDAQ:QNCX opened at $0.10 on Tuesday. The company has a market cap of $5.70 million, a price-to-earnings ratio of -0.08 and a beta of 1.28. Quince Therapeutics has a 1 year low of $0.09 and a 1 year high of $4.55. The stock’s 50 day simple moving average is $1.53 and its two-hundred day simple moving average is $1.98.

Institutional Investors Weigh In On Quince Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QNCX. XTX Topco Ltd bought a new stake in shares of Quince Therapeutics in the 2nd quarter valued at approximately $37,000. Intellectus Partners LLC bought a new position in shares of Quince Therapeutics during the 4th quarter valued at approximately $179,000. Hudson Bay Capital Management LP purchased a new stake in Quince Therapeutics during the 4th quarter valued at $213,000. Quadrature Capital Ltd purchased a new stake in Quince Therapeutics during the 4th quarter valued at $268,000. Finally, GSA Capital Partners LLP lifted its position in Quince Therapeutics by 158.0% in the third quarter. GSA Capital Partners LLP now owns 87,235 shares of the company’s stock worth $142,000 after buying an additional 53,417 shares during the last quarter. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

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.