Quince Therapeutics’ (QNCX) “Buy” Rating Reaffirmed at D. Boral Capital

D. Boral Capital reissued their buy rating on shares of Quince Therapeutics (NASDAQ:QNCX) in a report issued on Thursday,Benzinga reports. D. Boral Capital currently has a $5.00 target price on the stock.

Other equities analysts have also recently issued research reports about the company. Weiss Ratings restated a “sell (e+)” rating on shares of Quince Therapeutics in a report on Monday, December 29th. Citigroup reaffirmed a “market outperform” rating on shares of Quince Therapeutics in a report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $8.00.

Quince Therapeutics Stock Down 91.5%

QNCX opened at $0.27 on Thursday. Quince Therapeutics has a 52-week low of $0.23 and a 52-week high of $4.55. The company has a 50 day moving average of $3.29 and a two-hundred day moving average of $2.26. The company has a market cap of $15.03 million, a P/E ratio of -0.22 and a beta of 1.15.

Quince Therapeutics (NASDAQ:QNCX) last posted its earnings results on Wednesday, November 12th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.05). Research analysts anticipate that Quince Therapeutics will post -1.21 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. XTX Topco Ltd bought a new stake in shares of Quince Therapeutics during the 2nd quarter valued at about $37,000. GSA Capital Partners LLP boosted its stake in Quince Therapeutics by 158.0% in the third quarter. GSA Capital Partners LLP now owns 87,235 shares of the company’s stock valued at $142,000 after acquiring an additional 53,417 shares during the period. Bridgeway Capital Management LLC grew its holdings in shares of Quince Therapeutics by 20.9% during the second 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. Rockefeller Capital Management L.P. bought a new position in shares of Quince Therapeutics during the second quarter valued at approximately $280,000. Finally, Union Square Park Capital Management LLC raised its position in shares of Quince Therapeutics by 86.0% during the 3rd quarter. Union Square Park Capital Management LLC now owns 224,746 shares of the company’s stock worth $366,000 after purchasing an additional 103,889 shares during the period. 30.75% of the stock is currently owned by institutional investors.

Trending Headlines about Quince Therapeutics

Here are the key news stories impacting Quince Therapeutics this week:

• Positive Sentiment: D. Boral Capital reaffirmed a “buy” rating and set a $5.00 price target, signaling at least one analyst sees material upside despite the sell-off. Benzinga
• Neutral Sentiment: Quince presented previously published long-term safety data for eDSP at the British Paediatric Neurology Association meeting — safety data may be viewed as supportive but does not address the reported Phase 3 efficacy issues. BusinessWire Safety Poster
• Negative Sentiment: Company announced topline results from the pivotal Phase 3 NEAT trial of eDSP; subsequent reporting indicates the trial failed to meet key endpoints, which is the primary driver of the stock collapse. BusinessWire Topline Results
• Negative Sentiment: Reports confirm Quince has ended development of its lead drug candidate eDSP following the Phase 3 outcome, which removes the company’s principal clinical asset and is a major negative for future revenue prospects. MarketWatch
• Negative Sentiment: News coverage and commentary detail the share plunge (>90%) and investor reaction; trading was halted multiple times today for “News pending” and LULD pauses as the market digested the developments. Investing.com MSN Explainer

About Quince Therapeutics

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.