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

Shares of Quince Therapeutics, Inc. (NASDAQ:QNCX) have received a consensus rating of “Hold” from the twelve analysts that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $260.00.

A number of equities research analysts have weighed in on the stock. Weiss Ratings upgraded shares of Quince Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 12th. Oppenheimer started coverage on shares of Quince Therapeutics in a report on Wednesday, July 29th. They set an “outperform” rating and a $82.00 target price for the company. Lifesci Capital raised Quince Therapeutics to a “strong-buy” rating in a research report on Monday, June 29th. Leerink Partners assumed coverage on Quince Therapeutics in a research note on Wednesday, June 24th. They issued an “outperform” rating and a $80.00 price target on the stock. Finally, Wall Street Zen lowered Quince Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday.

Quince Therapeutics Trading Down 1.3%

Shares of Quince Therapeutics stock opened at $33.48 on Tuesday. Quince Therapeutics has a 12 month low of $15.10 and a 12 month high of $909.98. The firm has a market capitalization of $34.05 million, a P/E ratio of -0.21 and a beta of 1.36. The business has a fifty day simple moving average of $22.75 and a two-hundred day simple moving average of $24.94.

Quince Therapeutics (NASDAQ:QNCX) last released its earnings results on Friday, August 14th. The company reported ($12.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($28.02) by $15.71.

Institutional Investors Weigh In On Quince Therapeutics

A number of institutional investors have recently modified their holdings of QNCX. Nantahala Capital Management LLC increased its holdings 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 acquiring an additional 545,427 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new position in Quince Therapeutics in the 4th quarter worth about $7,538,000. Vanguard Group Inc. boosted its stake in Quince Therapeutics by 21.3% in the 3rd 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 in the last quarter. Millennium Management LLC grew its position in 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 purchasing an additional 1,276,094 shares during the last quarter. Finally, Almitas Capital LLC grew its position in Quince Therapeutics by 88.0% during the 4th quarter. Almitas Capital LLC now owns 930,134 shares of the company’s stock valued at $3,116,000 after purchasing an additional 435,356 shares during the last quarter. 30.75% of the stock is owned by hedge funds and other institutional investors.

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.