Quince Therapeutics (NASDAQ:QNCX) Coverage Initiated by Analysts at Leerink Partners

Research analysts at Leerink Partners started coverage on shares of Quince Therapeutics (NASDAQ:QNCX) in a note issued to investors on Wednesday. The brokerage set an “outperform” rating and a $4.00 price target on the stock. Leerink Partners’ price target would suggest a potential upside of 313.14% from the stock’s previous close.

Several other equities research analysts also recently commented on QNCX. Cantor Fitzgerald began coverage on shares of Quince Therapeutics in a report on Tuesday. They set an “overweight” rating and a $4.00 price objective on the stock. Weiss Ratings cut Quince Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, May 1st. Finally, Wall Street Zen raised shares of Quince Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $34.50.

Quince Therapeutics Trading Up 4.4%

Quince Therapeutics stock opened at $0.97 on Wednesday. Quince Therapeutics has a 12 month low of $0.79 and a 12 month high of $45.50. The business’s 50 day simple moving average is $1.14 and its 200 day simple moving average is $10.53. The company has a market cap of $15.78 million, a price-to-earnings ratio of -0.09 and a beta of 1.40.

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

Institutional Trading of Quince Therapeutics

Several large investors have recently added to or reduced their stakes in QNCX. XTX Topco Ltd bought a new stake in shares of Quince Therapeutics during the 2nd quarter valued at about $37,000. Nantahala Capital Management LLC bought a new stake in Quince Therapeutics in the second quarter worth $4,172,000. Bridgeway Capital Management LLC grew its position in 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 purchasing an additional 22,200 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Quince Therapeutics by 21.3% during the third quarter. Vanguard Group Inc. now owns 1,763,387 shares of the company’s stock valued at $2,874,000 after buying an additional 309,349 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its stake in Quince Therapeutics by 158.0% during the 3rd 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 last quarter. Institutional investors own 30.75% of the company’s stock.

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.