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

Shares of Quince Therapeutics, Inc. (NASDAQ:QNCX) have been given an average rating of “Hold” by the eleven analysts that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $568.40.

Several research analysts recently commented on the company. Leerink Partners initiated coverage on Quince Therapeutics in a research report on Wednesday, June 24th. They set an “outperform” rating and a $80.00 price target for the company. Cantor Fitzgerald started coverage on Quince Therapeutics in a research report on Tuesday, June 23rd. They set an “overweight” rating and a $80.00 price target on the stock. Wall Street Zen upgraded Quince Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Oppenheimer began coverage on Quince Therapeutics in a research note on Wednesday. They set an “outperform” rating and a $82.00 price objective on the stock. Finally, Weiss Ratings downgraded Quince Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, May 1st.

Institutional Trading of Quince Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd acquired a new stake in Quince Therapeutics in the second quarter valued at $37,000. Nantahala Capital Management LLC acquired a new position in shares of Quince Therapeutics during the 2nd quarter worth about $4,172,000. Bridgeway Capital Management LLC increased its stake in shares of Quince Therapeutics by 20.9% during 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 during the last quarter. Vanguard Group Inc. raised its holdings in shares of Quince Therapeutics by 21.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,763,387 shares of the company’s stock valued at $2,874,000 after purchasing an additional 309,349 shares during the period. Finally, ADAR1 Capital Management LLC raised its holdings in shares of Quince Therapeutics by 442.1% in the 3rd quarter. ADAR1 Capital Management LLC now owns 775,034 shares of the company’s stock valued at $1,263,000 after purchasing an additional 632,076 shares during the period. 30.75% of the stock is owned by institutional investors.

Quince Therapeutics Trading Up 4.7%

Shares of QNCX stock opened at $23.03 on Friday. Quince Therapeutics has a 1 year low of $15.10 and a 1 year high of $909.98. The firm’s fifty day moving average price is $19.36 and its two-hundred day moving average price is $80.60. The firm has a market capitalization of $22.57 million, a P/E ratio of -0.11 and a beta of 1.40.

Quince Therapeutics (NASDAQ:QNCX) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.59) EPS for the quarter, topping the consensus estimate of ($26.00) by $25.41. As a group, equities research analysts forecast that Quince Therapeutics will post -0.96 EPS for the current fiscal 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.