Quince Therapeutics (NASDAQ:QNCX) Stock Rating Lowered by Citizens Jmp

Quince Therapeutics (NASDAQ:QNCX) was downgraded by analysts at Citizens Jmp from a “market outperform” rating to a “market perform” rating in a research note issued on Friday, Marketbeat Ratings reports.

A number of other brokerages also recently issued reports on QNCX. Weiss Ratings reissued a “sell (e+)” rating on shares of Quince Therapeutics in a report on Monday, December 29th. D. Boral Capital reaffirmed a “buy” rating and set a $5.00 target price on shares of Quince Therapeutics in a report on Thursday. Finally, Citigroup downgraded shares of Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a report on Friday. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $8.00.

Quince Therapeutics Stock Performance

Shares of NASDAQ QNCX opened at $0.17 on Friday. The stock has a market cap of $9.47 million, a PE ratio of -0.14 and a beta of 1.15. Quince Therapeutics has a fifty-two week low of $0.16 and a fifty-two week high of $4.55. The stock has a fifty day moving average of $3.25 and a 200-day moving average of $2.25.

Quince Therapeutics (NASDAQ:QNCX) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.05). On average, sell-side analysts predict that Quince Therapeutics will post -1.21 EPS for the current year.

Institutional Trading of Quince Therapeutics

Hedge funds have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. purchased a new position in Quince Therapeutics in the second quarter worth $280,000. XTX Topco Ltd bought a new stake in Quince Therapeutics during the second quarter worth about $37,000. Nantahala Capital Management LLC purchased a new position in shares of Quince Therapeutics in the 2nd quarter worth about $4,172,000. Bridgeway Capital Management LLC increased its position in shares of 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. Finally, Vanguard Group Inc. raised its holdings in shares of Quince Therapeutics by 21.3% during the 3rd 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 in the last quarter. 30.75% of the stock is owned by institutional investors.

Key Stories Impacting 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, which implies large upside from current levels, but the note is unlikely to counteract the impact of clinical failure. D. Boral Capital Buy Rating
• Neutral Sentiment: Analysts at Citizens Jmp reaffirmed a “market perform” rating; this is informational but not a strong catalyst in the current risk-off environment. Citizens Jmp Market Perform
• Neutral Sentiment: Several trading halts occurred late in the session (news pending / LULD pauses), indicating extreme intraday volatility and contributing to disorderly price moves. (Exchange notices)
• Negative Sentiment: Multiple news outlets report Quince’s Phase 3 NEAT trial failed and the company is ending development of its lead drug candidate—this is the primary driver of the stock collapse and long-term value impairment. Quince stock tumbles after failed Phase 3
• Negative Sentiment: Coverage from MarketWatch/MSN describes the company ending development of its lead candidate and the stock plunging more than 90%, reinforcing that the trial outcome triggered the sell-off. Quince Ends Development; Shares Slide
• Negative Sentiment: Unusual options activity: investors bought ~3,396 put contracts (a 107% increase over average), signaling aggressive downside bets and likely adding selling pressure.
• Negative Sentiment: The company issued a Business Wire release with topline Phase 3 results; market interpretation of those toplines as unsuccessful triggered the swift reassessment of future cash flows and clinical value. Business Wire Topline Results

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.