Quince Therapeutics, Inc. (NASDAQ:QNCX) Receives $8.00 Consensus Target Price from Analysts

Shares of Quince Therapeutics, Inc. (NASDAQ:QNCX) have been assigned an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $8.00.

QNCX has been the subject of several recent analyst reports. JMP Securities lowered their target price on Quince Therapeutics from $9.00 to $8.00 and set a “market outperform” rating for the company in a research note on Tuesday, August 12th. Zacks Research raised Quince Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 26th. Citizens Jmp initiated coverage on Quince Therapeutics in a research note on Tuesday, August 5th. They set a “strong-buy” rating and a $9.00 price objective for the company. D. Boral Capital restated a “buy” rating and set a $4.00 price objective on shares of Quince Therapeutics in a report on Thursday, November 13th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Quince Therapeutics in a research note on Monday.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Nantahala Capital Management LLC bought a new stake in shares of Quince Therapeutics in the 2nd quarter worth about $4,172,000. Millennium Management LLC lifted its position in shares of Quince Therapeutics by 1,152.9% during the third quarter. Millennium Management LLC now owns 1,386,776 shares of the company’s stock worth $2,260,000 after purchasing an additional 1,276,094 shares during the last quarter. Ieq Capital LLC acquired a new position in Quince Therapeutics in the first quarter worth about $1,073,000. ADAR1 Capital Management LLC grew its stake in Quince Therapeutics by 442.1% in the third quarter. ADAR1 Capital Management LLC now owns 775,034 shares of the company’s stock worth $1,263,000 after purchasing an additional 632,076 shares in the last quarter. Finally, Almitas Capital LLC bought a new stake in Quince Therapeutics in the third quarter valued at about $806,000. 30.75% of the stock is currently owned by institutional investors.

Quince Therapeutics Stock Up 6.8%

QNCX opened at $2.67 on Friday. The firm’s 50 day moving average is $1.78 and its 200-day moving average is $1.59. Quince Therapeutics has a 52-week low of $0.72 and a 52-week high of $2.85. The firm has a market capitalization of $148.67 million, a P/E ratio of -2.21 and a beta of 1.07.

Quince Therapeutics (NASDAQ:QNCX) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.05). Equities analysts expect that Quince Therapeutics will post -1.21 earnings per share for the current fiscal year.

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.