Quince Therapeutics (NASDAQ:QNCX) Downgraded to Hold Rating by D Boral Capital

Quince Therapeutics (NASDAQ:QNCX) was downgraded by equities researchers at D Boral Capital from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Friday,Zacks.com reports.

Several other equities research analysts also recently weighed in on QNCX. Brookline Capital Management downgraded Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday. Citigroup lowered Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a research report on Friday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Quince Therapeutics in a report on Monday, December 29th. D. Boral Capital reissued a “buy” rating and set a $5.00 target price on shares of Quince Therapeutics in a research note on Thursday. Finally, Citizens Jmp lowered Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a report on Friday. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $8.00.

Quince Therapeutics Stock Performance

Quince Therapeutics stock opened at $0.17 on Friday. The company has a market capitalization of $9.47 million, a PE ratio of -0.14 and a beta of 1.15. The company has a 50 day moving average price of $3.25 and a 200-day moving average price of $2.25. Quince Therapeutics has a fifty-two week low of $0.16 and a fifty-two week high of $4.55.

Quince Therapeutics (NASDAQ:QNCX) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.05). On average, analysts forecast that Quince Therapeutics will post -1.21 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Nantahala Capital Management LLC grew its holdings in shares of Quince Therapeutics by 21.6% in the third quarter. Nantahala Capital Management LLC now owns 3,073,729 shares of the company’s stock valued at $5,010,000 after purchasing an additional 545,427 shares in the last quarter. Vanguard Group Inc. boosted its position in 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 buying an additional 309,349 shares during the period. Millennium Management LLC grew its stake in shares of Quince Therapeutics by 1,152.9% in the third quarter. Millennium Management LLC now owns 1,386,776 shares of the company’s stock worth $2,260,000 after acquiring an additional 1,276,094 shares in the last quarter. ADAR1 Capital Management LLC increased its position in shares of Quince Therapeutics by 442.1% during the third 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 during the period. Finally, Almitas Capital LLC acquired a new stake in shares of Quince Therapeutics in the third quarter valued at $806,000. Hedge funds and other institutional investors own 30.75% of the company’s stock.

Key Headlines Impacting Quince Therapeutics

Here are the key news stories impacting Quince Therapeutics this week:

• Positive Sentiment: D. Boral Capital reaffirmed a “buy” rating and set a $5.00 price target, which implies large upside from current levels, but the note is unlikely to counteract the impact of clinical failure. D. Boral Capital Buy Rating
• Neutral Sentiment: Analysts at Citizens Jmp reaffirmed a “market perform” rating; this is informational but not a strong catalyst in the current risk-off environment. Citizens Jmp Market Perform
• Neutral Sentiment: Several trading halts occurred late in the session (news pending / LULD pauses), indicating extreme intraday volatility and contributing to disorderly price moves. (Exchange notices)
• Negative Sentiment: Multiple news outlets report Quince’s Phase 3 NEAT trial failed and the company is ending development of its lead drug candidate—this is the primary driver of the stock collapse and long-term value impairment. Quince stock tumbles after failed Phase 3
• Negative Sentiment: Coverage from MarketWatch/MSN describes the company ending development of its lead candidate and the stock plunging more than 90%, reinforcing that the trial outcome triggered the sell-off. Quince Ends Development; Shares Slide
• Negative Sentiment: Unusual options activity: investors bought ~3,396 put contracts (a 107% increase over average), signaling aggressive downside bets and likely adding selling pressure.
• Negative Sentiment: The company issued a Business Wire release with topline Phase 3 results; market interpretation of those toplines as unsuccessful triggered the swift reassessment of future cash flows and clinical value. Business Wire Topline Results

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.