Quince Therapeutics, Inc. (NASDAQ:QNCX) Receives Average Rating of “Reduce” from Analysts

Quince Therapeutics, Inc. (NASDAQ:QNCX) has received an average rating of “Reduce” from the seven brokerages that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $65.00.

Several research analysts have issued reports on QNCX shares. Maxim Group lowered Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. Citigroup lowered Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a research report on Friday, January 30th. Weiss Ratings lowered Quince Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, May 1st. Citizens Jmp lowered Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a research report on Friday, January 30th. Finally, D. Boral Capital lowered Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th.

Quince Therapeutics Price Performance

Shares of NASDAQ QNCX opened at $1.07 on Friday. The business’s 50 day moving average is $1.17 and its two-hundred day moving average is $14.03. Quince Therapeutics has a 1-year low of $0.79 and a 1-year high of $45.50. The stock has a market capitalization of $17.44 million, a P/E ratio of -0.10 and a beta of 1.45.

Quince Therapeutics (NASDAQ:QNCX) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.59) earnings per share for the quarter, topping the consensus estimate of ($1.30) by $0.71.

Institutional Trading of Quince Therapeutics

A number of large investors have recently modified their holdings of the company. Bridgeway Capital Management LLC boosted its holdings in shares of Quince Therapeutics by 20.9% in the second quarter. Bridgeway Capital Management LLC now owns 128,617 shares of the company’s stock valued at $212,000 after purchasing an additional 22,200 shares during the period. XTX Topco Ltd purchased a new stake in shares of Quince Therapeutics in the second quarter valued at approximately $37,000. Intellectus Partners LLC purchased a new stake in shares of Quince Therapeutics in the fourth quarter valued at approximately $179,000. GSA Capital Partners LLP boosted its holdings in shares of Quince Therapeutics by 158.0% in the third quarter. GSA Capital Partners LLP now owns 87,235 shares of the company’s stock valued at $142,000 after purchasing an additional 53,417 shares during the period. Finally, Hudson Bay Capital Management LP purchased a new stake in shares of Quince Therapeutics in the fourth quarter valued at approximately $213,000. Hedge funds and other 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.