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

Quince Therapeutics, Inc. (NASDAQ:QNCX) has earned an average recommendation of “Hold” from the eleven research firms that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $8.00.

A number of research analysts have issued reports on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Quince Therapeutics in a research note on Monday, December 29th. Citizens Jmp cut shares of Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a research note on Friday, January 30th. Lucid Cap Mkts lowered shares of Quince Therapeutics from a “strong-buy” rating to a “strong sell” rating in a research note on Friday, January 30th. D Boral Capital cut shares of Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Finally, Citigroup downgraded shares of Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a research note on Friday, January 30th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Nantahala Capital Management LLC boosted its position in shares of Quince Therapeutics by 21.6% during the third quarter. Nantahala Capital Management LLC now owns 3,073,729 shares of the company’s stock valued at $5,010,000 after buying an additional 545,427 shares during the last quarter. Vanguard Group Inc. lifted its stake in 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 acquiring an additional 309,349 shares during the period. Millennium Management LLC boosted its holdings in shares of Quince Therapeutics by 1,152.9% during the 3rd quarter. Millennium Management LLC now owns 1,386,776 shares of the company’s stock valued at $2,260,000 after acquiring an additional 1,276,094 shares during the last quarter. ADAR1 Capital Management LLC grew its stake in shares of 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 acquiring an additional 632,076 shares during the period. Finally, Almitas Capital LLC purchased a new position in shares of Quince Therapeutics during the third quarter valued at approximately $806,000. Hedge funds and other institutional investors own 30.75% of the company’s stock.

Quince Therapeutics Price Performance

Shares of NASDAQ QNCX opened at $0.15 on Friday. Quince Therapeutics has a 1 year low of $0.14 and a 1 year high of $4.55. The firm has a 50-day moving average of $3.02 and a 200 day moving average of $2.20. The stock has a market cap of $8.13 million, a P/E ratio of -0.12 and a beta of 1.22.

Quince Therapeutics (NASDAQ:QNCX) last announced its quarterly earnings data 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). Research 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. 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.