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

Shares of Quince Therapeutics, Inc. (NASDAQ:QNCX) have been given an average recommendation of “Hold” by the ten research firms that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $690.00.

A number of brokerages recently issued reports on QNCX. Leerink Partners started coverage on shares of Quince Therapeutics in a research report on Wednesday, June 24th. They set an “outperform” rating and a $80.00 target price on the stock. Zacks Research raised shares of Quince Therapeutics to a “hold” rating in a research report on Wednesday, June 24th. Lifesci Capital upgraded shares of Quince Therapeutics to a “strong-buy” rating in a research note on Monday, June 29th. Wall Street Zen upgraded shares of Quince Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Finally, Cantor Fitzgerald began coverage on Quince Therapeutics in a research report on Tuesday, June 23rd. They set an “overweight” rating and a $80.00 target price on the stock.

Institutional Trading of Quince Therapeutics

A number of hedge funds have recently modified their holdings of the company. XTX Topco Ltd bought a new stake in shares of Quince Therapeutics during the second quarter valued at approximately $37,000. Nantahala Capital Management LLC acquired a new position in shares of Quince Therapeutics in the 2nd quarter valued at $4,172,000. Bridgeway Capital Management LLC raised its stake in shares of Quince Therapeutics by 20.9% in the 2nd quarter. Bridgeway Capital Management LLC now owns 128,617 shares of the company’s stock valued at $212,000 after buying an additional 22,200 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Quince Therapeutics by 21.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,763,387 shares of the company’s stock worth $2,874,000 after acquiring an additional 309,349 shares during the period. Finally, Union Square Park Capital Management LLC lifted its holdings in shares of Quince Therapeutics by 86.0% during the 3rd quarter. Union Square Park Capital Management LLC now owns 224,746 shares of the company’s stock worth $366,000 after acquiring an additional 103,889 shares during the period. Institutional investors own 30.75% of the company’s stock.

Quince Therapeutics Stock Performance

Shares of NASDAQ:QNCX opened at $17.23 on Monday. The stock’s 50-day moving average is $21.52 and its 200-day moving average is $166.85. The company has a market cap of $16.89 million, a P/E ratio of -0.08 and a beta of 1.40. Quince Therapeutics has a 52-week low of $15.10 and a 52-week high of $909.98.

Quince Therapeutics (NASDAQ:QNCX) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.59) EPS for the quarter, topping analysts’ consensus estimates of ($26.00) by $25.41. As a group, equities analysts predict that Quince Therapeutics will post -8.6 EPS for the current 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.