Quince Therapeutics (NASDAQ:QNCX) Releases Quarterly Earnings Results, Beats Estimates By $0.71 EPS

Quince Therapeutics (NASDAQ:QNCX) issued its quarterly earnings results on Monday. The company reported ($0.59) EPS for the quarter, topping analysts’ consensus estimates of ($1.30) by $0.71, Zacks reports.

Quince Therapeutics Stock Performance

Quince Therapeutics stock opened at $1.26 on Wednesday. Quince Therapeutics has a fifty-two week low of $0.80 and a fifty-two week high of $45.50. The firm’s 50-day simple moving average is $1.15 and its 200 day simple moving average is $14.82. The stock has a market cap of $20.54 million, a PE ratio of -0.12 and a beta of 1.45.

Institutional Trading of Quince Therapeutics

A number of hedge funds have recently bought and sold shares of the business. Superstring Capital Management LP bought a new position in Quince Therapeutics in the 4th quarter worth approximately $2,877,000. Quadrature Capital Ltd bought a new stake in Quince Therapeutics during the 4th quarter valued at $268,000. Almitas Capital LLC lifted its position in shares of Quince Therapeutics by 88.0% during the fourth quarter. Almitas Capital LLC now owns 930,134 shares of the company’s stock worth $3,116,000 after acquiring an additional 435,356 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Quince Therapeutics during the fourth quarter worth $7,538,000. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of Quince Therapeutics in the fourth quarter worth $308,000. 30.75% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

QNCX has been the subject of several recent research reports. D. Boral Capital downgraded Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. 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. Lucid Cap Mkts lowered shares of Quince Therapeutics from a “strong-buy” rating to a “strong sell” rating in a research note on Friday, January 30th. Citizens Jmp lowered shares of Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a research note on Friday, January 30th. Finally, downgraded shares of Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 29th. Five investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Quince Therapeutics has a consensus rating of “Reduce” and a consensus price target of $65.00.

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.