Quince Therapeutics, Inc. (NASDAQ:QNCX) Given Average Rating of “Reduce” by Analysts

Shares of Quince Therapeutics, Inc. (NASDAQ:QNCX) have received a consensus rating of “Reduce” from the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $65.00.

Several analysts have commented on the stock. 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. Weiss Ratings cut shares of Quince Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, May 1st. D. Boral Capital cut shares of Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Citigroup cut shares of Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a research note on Friday, January 30th. Finally, Citizens Jmp cut shares of Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a research note on Friday, January 30th.

Quince Therapeutics Stock Performance

QNCX opened at $1.10 on Friday. Quince Therapeutics has a fifty-two week low of $0.79 and a fifty-two week high of $45.50. The firm’s fifty day moving average is $1.17 and its 200 day moving average is $13.94. The stock has a market cap of $17.93 million, a price-to-earnings ratio of -0.10 and a beta of 1.45.

Quince Therapeutics (NASDAQ:QNCX) last released its earnings results on Monday, May 11th. The company reported ($0.59) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.30) by $0.71.

Institutional Trading of Quince Therapeutics

Several hedge funds have recently bought and sold shares of the stock. Bridgeway Capital Management LLC lifted its stake in Quince Therapeutics by 20.9% in the 2nd 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. XTX Topco Ltd purchased a new stake in Quince Therapeutics in the 2nd quarter worth $37,000. Intellectus Partners LLC purchased a new stake in shares of Quince Therapeutics during the 4th quarter valued at about $179,000. GSA Capital Partners LLP raised its position in shares of Quince Therapeutics by 158.0% during the 3rd quarter. GSA Capital Partners LLP now owns 87,235 shares of the company’s stock valued at $142,000 after buying an additional 53,417 shares in the last quarter. Finally, Hudson Bay Capital Management LP purchased a new stake in shares of Quince Therapeutics during the 4th quarter valued at about $213,000. Hedge funds and other institutional investors own 30.75% of the company’s stock.

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.