Quince Therapeutics (NASDAQ:QNCX) Issues Quarterly Earnings Results

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

Quince Therapeutics Stock Performance

NASDAQ:QNCX traded up $1.63 during trading hours on Friday, reaching $34.04. The stock had a trading volume of 26,046 shares, compared to its average volume of 35,861. The stock has a 50 day simple moving average of $20.73 and a 200 day simple moving average of $37.70. Quince Therapeutics has a 12-month low of $15.10 and a 12-month high of $909.98.

Analysts Set New Price Targets

A number of research analysts have issued reports on QNCX shares. Lifesci Capital upgraded Quince Therapeutics to a “strong-buy” rating in a research report on Monday, June 29th. Zacks Research upgraded Quince Therapeutics to a “hold” rating in a report on Wednesday, June 24th. Wall Street Zen upgraded Quince Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Cantor Fitzgerald assumed coverage on shares of Quince Therapeutics in a research note on Tuesday, June 23rd. They issued an “overweight” rating and a $80.00 target price for the company. Finally, Leerink Partners assumed coverage on shares of Quince Therapeutics in a report on Wednesday, June 24th. They issued an “outperform” rating and a $80.00 target price for the company. One investment 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $310.50.

Institutional Investors Weigh In On Quince Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QNCX. XTX Topco Ltd purchased a new stake in Quince Therapeutics during the second quarter valued at about $37,000. Nantahala Capital Management LLC purchased a new stake in shares of Quince Therapeutics during the 2nd quarter valued at approximately $4,172,000. Bridgeway Capital Management LLC lifted its stake in shares of Quince Therapeutics by 20.9% during 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. boosted its holdings in Quince Therapeutics by 21.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,763,387 shares of the company’s stock worth $2,874,000 after buying an additional 309,349 shares during the period. Finally, ADAR1 Capital Management LLC grew its stake in Quince Therapeutics by 442.1% in the 3rd quarter. ADAR1 Capital Management LLC now owns 775,034 shares of the company’s stock valued at $1,263,000 after buying an additional 632,076 shares in the last quarter. 30.75% of the stock is currently owned by institutional investors.

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.