Quince Therapeutics (NASDAQ:QNCX) Issues Earnings Results, Beats Estimates By $15.71 EPS

Quince Therapeutics (NASDAQ:QNCX) announced its quarterly earnings data on Friday. The company reported ($12.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($28.02) by $15.71, FiscalAI reports.

Quince Therapeutics Price Performance

NASDAQ:QNCX opened at $34.04 on Friday. The firm has a market capitalization of $34.62 million, a price-to-earnings ratio of -0.22 and a beta of 1.36. Quince Therapeutics has a one year low of $15.10 and a one year high of $909.98. The business has a fifty day moving average price of $21.01 and a 200-day moving average price of $37.68.

Analysts Set New Price Targets

A number of analysts have commented on the company. Weiss Ratings raised Quince Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. Zacks Research raised Quince Therapeutics to a “hold” rating in a report on Wednesday, June 24th. Oppenheimer started coverage on Quince Therapeutics in a research report on Wednesday, July 29th. They set an “outperform” rating and a $82.00 price objective on the stock. Cantor Fitzgerald began coverage on Quince Therapeutics in a report on Tuesday, June 23rd. They issued an “overweight” rating and a $80.00 price objective for the company. Finally, Wall Street Zen raised Quince Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $310.50.

Institutional Trading of Quince Therapeutics

Several hedge funds have recently bought and sold shares of the stock. Nantahala Capital Management LLC bought a new position in shares of Quince Therapeutics in the second quarter worth about $4,172,000. Adage Capital Partners GP L.L.C. purchased a new position in shares of Quince Therapeutics during the 4th quarter valued at about $7,538,000. Millennium Management LLC grew its stake in shares of Quince Therapeutics by 1,152.9% during the 3rd quarter. Millennium Management LLC now owns 1,386,776 shares of the company’s stock valued at $2,260,000 after acquiring an additional 1,276,094 shares during the period. Superstring Capital Management LP bought a new position in shares of Quince Therapeutics during the 4th quarter valued at approximately $2,877,000. Finally, ADAR1 Capital Management LLC increased its holdings in Quince Therapeutics by 442.1% in the 3rd quarter. ADAR1 Capital Management LLC now owns 775,034 shares of the company’s stock worth $1,263,000 after acquiring an additional 632,076 shares in the last quarter. Institutional investors own 30.75% of the company’s stock.

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.