Quince Therapeutics (NASDAQ:QNCX) Stock Rating Lowered by Brookline Capital Management

Quince Therapeutics (NASDAQ:QNCX) was downgraded by research analysts at Brookline Capital Management from a “strong-buy” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

Several other research analysts also recently commented on QNCX. Citigroup downgraded shares of Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a report on Friday. D. Boral Capital restated a “buy” rating and issued a $5.00 price objective on shares of Quince Therapeutics in a research report on Thursday. Weiss Ratings restated a “sell (e+)” rating on shares of Quince Therapeutics in a research report on Monday, December 29th. Finally, Citizens Jmp cut shares of Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a research note on Friday. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $8.00.

Quince Therapeutics Price Performance

Shares of Quince Therapeutics stock opened at $0.17 on Thursday. The firm has a market cap of $9.47 million, a PE ratio of -0.14 and a beta of 1.15. The stock has a fifty day moving average price of $3.25 and a 200-day moving average price of $2.25. Quince Therapeutics has a 1 year low of $0.16 and a 1 year high of $4.55.

Quince Therapeutics (NASDAQ:QNCX) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.05). As a group, equities analysts anticipate that Quince Therapeutics will post -1.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in QNCX. Rockefeller Capital Management L.P. purchased a new position in shares of Quince Therapeutics during the second quarter valued at about $280,000. Nantahala Capital Management LLC boosted its position in Quince Therapeutics by 21.6% during the 3rd quarter. Nantahala Capital Management LLC now owns 3,073,729 shares of the company’s stock valued at $5,010,000 after acquiring an additional 545,427 shares in the last quarter. Millennium Management LLC grew 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 worth $2,260,000 after acquiring an additional 1,276,094 shares during the period. Almitas Capital LLC bought a new position in shares of Quince Therapeutics in the 3rd quarter worth approximately $806,000. Finally, ADAR1 Capital Management LLC lifted its stake in shares of Quince Therapeutics by 442.1% in the 3rd quarter. ADAR1 Capital Management LLC now owns 775,034 shares of the company’s stock valued at $1,263,000 after purchasing an additional 632,076 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, 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.