Quince Therapeutics, Inc. (NASDAQ:QNCX) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Quince Therapeutics, Inc. (NASDAQ:QNCX) have earned an average rating of “Hold” from the twelve research firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $260.00.

A number of research firms have recently issued reports on QNCX. Zacks Research upgraded shares of Quince Therapeutics to a “hold” rating in a research note on Wednesday, June 24th. Wall Street Zen cut Quince Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $70.00 price target on shares of Quince Therapeutics in a report on Tuesday, August 18th. Craig Hallum raised Quince Therapeutics to a “strong-buy” rating in a research report on Thursday, August 27th. Finally, Weiss Ratings cut Quince Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, August 26th.

Quince Therapeutics Trading Down 3.5%

Shares of NASDAQ QNCX opened at $32.57 on Tuesday. The firm’s 50-day moving average price is $24.12 and its 200-day moving average price is $24.52. The stock has a market capitalization of $33.22 million, a price-to-earnings ratio of -0.21 and a beta of 1.36. Quince Therapeutics has a 12-month low of $15.10 and a 12-month high of $909.98.

Quince Therapeutics (NASDAQ:QNCX) last issued its quarterly earnings results on Friday, August 14th. The company reported ($12.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($28.02) by $15.71.

Institutional Investors Weigh In On Quince Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Quince Therapeutics during the 2nd quarter worth about $31,000. XTX Topco Ltd acquired a new stake in shares of Quince Therapeutics during the second quarter worth about $37,000. Intellectus Partners LLC purchased a new stake in Quince Therapeutics in the fourth quarter valued at approximately $179,000. Bridgeway Capital Management LLC boosted its position in 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 buying an additional 22,200 shares during the last quarter. Finally, Hudson Bay Capital Management LP acquired a new position in Quince Therapeutics in the 4th quarter worth approximately $213,000. Institutional investors and hedge funds 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.