Quince Therapeutics (NASDAQ:QNCX) Lowered to “Strong Sell” Rating by Wall Street Zen

Quince Therapeutics (NASDAQ:QNCX) was downgraded by stock analysts at Wall Street Zen to a “strong sell” rating in a report issued on Saturday.

Several other equities research analysts also recently commented on the company. D. Boral Capital downgraded Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Citigroup cut Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a research report on Friday, January 30th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Quince Therapeutics in a research report on Monday, December 29th. Citizens Jmp downgraded Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a research note on Friday, January 30th. Finally, Maxim Group downgraded Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Five research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Quince Therapeutics currently has a consensus rating of “Reduce” and an average price target of $65.00.

Quince Therapeutics Stock Up 2.2%

Shares of Quince Therapeutics stock opened at $1.37 on Friday. The company has a market cap of $7.63 million, a PE ratio of -0.08 and a beta of 1.33. The business has a 50 day moving average of $1.42 and a 200 day moving average of $16.65. Quince Therapeutics has a 52 week low of $0.80 and a 52 week high of $45.50.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of QNCX. Bridgeway Capital Management LLC grew its holdings in Quince Therapeutics by 20.9% during the second quarter. Bridgeway Capital Management LLC now owns 128,617 shares of the company’s stock worth $212,000 after acquiring an additional 22,200 shares during the period. XTX Topco Ltd purchased a new position in shares of Quince Therapeutics in the second quarter valued at approximately $37,000. Intellectus Partners LLC acquired a new stake in shares of Quince Therapeutics in the fourth quarter valued at approximately $179,000. GSA Capital Partners LLP increased its holdings in shares of 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 purchasing an additional 53,417 shares during the last quarter. Finally, Hudson Bay Capital Management LP acquired a new stake in shares of Quince Therapeutics in the fourth quarter valued at approximately $213,000. 30.75% of the stock is owned by institutional investors and hedge funds.

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.