Analysts Set Quince Therapeutics, Inc. (NASDAQ:QNCX) PT at $6.50

Shares of Quince Therapeutics, Inc. (NASDAQ:QNCX) have been assigned an average rating of “Reduce” from the seven analysts that are covering the company, MarketBeat Ratings reports. Two equities 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 analysts that have issued ratings on the stock in the last year is $6.50.

Several equities analysts have issued reports on the stock. Lucid Cap Mkts cut shares of Quince Therapeutics from a “strong-buy” rating to a “strong sell” rating in a research note on Friday, January 30th. Citizens Jmp lowered shares of Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a research note on Friday, January 30th. Weiss Ratings reissued a “sell (e+)” rating on shares of Quince Therapeutics in a report on Monday, December 29th. Maxim Group cut shares of Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Finally, D. Boral Capital downgraded shares of Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th.

Hedge Funds Weigh In On Quince Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of QNCX. Superstring Capital Management LP bought a new stake in shares of Quince Therapeutics in the fourth quarter worth $2,877,000. Quadrature Capital Ltd bought a new position in Quince Therapeutics in the fourth quarter valued at about $268,000. 683 Capital Management LLC bought a new position in Quince Therapeutics in the fourth quarter valued at about $798,000. Almitas Capital LLC boosted its position in Quince Therapeutics by 88.0% in the fourth quarter. Almitas Capital LLC now owns 930,134 shares of the company’s stock worth $3,116,000 after purchasing an additional 435,356 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. purchased a new position in Quince Therapeutics in the fourth quarter worth about $7,538,000. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

Quince Therapeutics Stock Performance

NASDAQ QNCX opened at $0.10 on Friday. Quince Therapeutics has a one year low of $0.08 and a one year high of $4.55. The stock has a 50-day moving average of $0.58 and a 200 day moving average of $1.81. The company has a market capitalization of $5.64 million, a price-to-earnings ratio of -0.08 and a beta of 1.28.

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.