Quince Therapeutics, Inc. (NASDAQ:QNCX) Given Average Recommendation of “Reduce” by Analysts

Shares of Quince Therapeutics, Inc. (NASDAQ:QNCX) have earned a consensus recommendation of “Reduce” from the seven analysts that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $6.50.

Several equities analysts have recently commented on QNCX shares. Citigroup cut Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a research note on Friday, January 30th. Maxim Group lowered shares of Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. cut shares of Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 29th. Citizens Jmp downgraded shares of Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a research note on Friday, January 30th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Quince Therapeutics in a report on Monday, December 29th.

Hedge Funds Weigh In On Quince Therapeutics

Large investors have recently modified their holdings of the stock. XTX Topco Ltd bought a new stake in Quince Therapeutics in the second quarter valued at about $37,000. GSA Capital Partners LLP lifted its holdings in Quince Therapeutics by 158.0% during the 3rd quarter. GSA Capital Partners LLP now owns 87,235 shares of the company’s stock worth $142,000 after buying an additional 53,417 shares during the last quarter. Intellectus Partners LLC bought a new position in Quince Therapeutics during the 4th quarter worth approximately $179,000. Bridgeway Capital Management LLC grew its position in shares of Quince Therapeutics by 20.9% in the 2nd 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 in the last quarter. Finally, Hudson Bay Capital Management LP acquired a new position in shares of Quince Therapeutics in the 4th quarter worth approximately $213,000. Institutional investors own 30.75% of the company’s stock.

Quince Therapeutics Stock Performance

Shares of QNCX opened at $0.09 on Friday. Quince Therapeutics has a one year low of $0.08 and a one year high of $4.55. The stock has a 50-day moving average price of $0.65 and a 200 day moving average price of $1.82. The company has a market capitalization of $4.88 million, a P/E ratio of -0.07 and a beta of 1.28.

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.