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

Quince Therapeutics, Inc. (NASDAQ:QNCX) has earned a consensus recommendation of “Reduce” from the seven research firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $65.00.

Several equities analysts have issued reports on QNCX shares. Wall Street Zen raised Quince Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Weiss Ratings lowered Quince Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, May 1st.

Hedge Funds Weigh In On Quince Therapeutics

Hedge funds have recently made changes to their positions in the company. GSA Capital Partners LLP grew its holdings in shares of Quince Therapeutics by 158.0% during the third quarter. GSA Capital Partners LLP now owns 87,235 shares of the company’s stock worth $142,000 after purchasing an additional 53,417 shares during the last quarter. Almitas Capital LLC purchased a new position in shares of Quince Therapeutics during the third quarter worth about $806,000. Nantahala Capital Management LLC purchased a new position in shares of Quince Therapeutics during the second quarter worth about $4,172,000. Vanguard Group Inc. grew its holdings in shares of Quince Therapeutics by 21.3% during the third quarter. Vanguard Group Inc. now owns 1,763,387 shares of the company’s stock worth $2,874,000 after purchasing an additional 309,349 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Quince Therapeutics by 19.8% during the fourth quarter. Geode Capital Management LLC now owns 523,899 shares of the company’s stock worth $1,756,000 after purchasing an additional 86,614 shares during the last quarter. Hedge funds and other institutional investors own 30.75% of the company’s stock.

Quince Therapeutics Price Performance

Shares of QNCX opened at $0.90 on Thursday. Quince Therapeutics has a 1-year low of $0.79 and a 1-year high of $45.50. The stock has a market cap of $14.72 million, a PE ratio of -0.09 and a beta of 1.40. The firm has a fifty day moving average price of $1.19 and a 200 day moving average price of $11.47.

Quince Therapeutics (NASDAQ:QNCX) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.59) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.30) by $0.71.

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.