Quince Therapeutics (NASDAQ:QNCX) Stock Rating Raised to Hold at Zacks Research

Quince Therapeutics (NASDAQ:QNCX) was upgraded by stock analysts at Zacks Research to a “hold” rating in a note issued to investors on Thursday, Zacks reports.

QNCX has been the topic of a number of other research reports. Lifesci Capital upgraded shares of Quince Therapeutics to a “strong-buy” rating in a report on Monday, June 29th. Wall Street Zen cut shares of Quince Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. 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. Weiss Ratings raised Quince Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. Finally, Citigroup reiterated a “market outperform” rating on shares of Quince Therapeutics in a research note on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Quince Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $206.71.

Quince Therapeutics Stock Performance

NASDAQ:QNCX opened at $29.20 on Thursday. The stock’s 50 day moving average price is $29.83 and its 200 day moving average price is $24.33. Quince Therapeutics has a 52 week low of $15.10 and a 52 week high of $909.98. The company has a market capitalization of $29.78 million, a P/E ratio of -0.19 and a beta of 1.33.

Quince Therapeutics (NASDAQ:QNCX) last posted its earnings results on Friday, August 14th. The company reported ($12.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($28.02) by $15.71. As a group, sell-side analysts forecast that Quince Therapeutics will post -8 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Quince Therapeutics during the 2nd quarter worth $31,000. Intellectus Partners LLC bought a new stake in Quince Therapeutics during the fourth quarter valued at about $179,000. Finally, 683 Capital Management LLC acquired a new stake in shares of Quince Therapeutics in the fourth quarter valued at about $798,000. Institutional investors own 30.75% of the company’s stock.

About Quince Therapeutics

Quince Therapeutics, Inc is a clinical-stage biotechnology company focused on developing treatments for rare diseases. The company’s research centers on its erythrocyte-derived extracellular vesicle (EEV) platform, which uses patients’ red blood cells to encapsulate and deliver therapeutic compounds.

Quince’s lead investigational product is eDSP, formerly known as EryDex, an autologous red-blood-cell-based formulation of dexamethasone sodium phosphate being developed for ataxia-telangiectasia (A-T).