Analysts Set Quince Therapeutics, Inc. (NASDAQ:QNCX) Price Target at $65.00

Shares of Quince Therapeutics, Inc. (NASDAQ:QNCX) have been given a consensus rating of “Reduce” by the seven research firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $65.00.

A number of research firms recently issued reports on QNCX. Wall Street Zen raised shares of Quince Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Weiss Ratings cut shares of Quince Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, May 1st.

Institutional Investors Weigh In On Quince Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Nantahala Capital Management LLC purchased a new position in Quince Therapeutics during the second quarter valued at $4,172,000. Adage Capital Partners GP L.L.C. bought a new stake in Quince Therapeutics during the fourth quarter valued at about $7,538,000. Millennium Management LLC increased its position in 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 buying an additional 1,276,094 shares in the last quarter. Superstring Capital Management LP purchased a new stake in Quince Therapeutics in the fourth quarter worth about $2,877,000. Finally, ADAR1 Capital Management LLC raised its stake in shares of Quince Therapeutics by 442.1% in the third quarter. ADAR1 Capital Management LLC now owns 775,034 shares of the company’s stock worth $1,263,000 after buying an additional 632,076 shares during the period. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

Quince Therapeutics Price Performance

Quince Therapeutics stock opened at $0.93 on Thursday. Quince Therapeutics has a one year low of $0.79 and a one year high of $45.50. The stock has a market capitalization of $15.18 million, a PE ratio of -0.09 and a beta of 1.40. The business’s fifty day moving average is $1.19 and its 200 day moving average is $11.94.

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

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.