Leerink Partners Initiates Coverage on Quince Therapeutics (NASDAQ:QNCX)

Leerink Partners began coverage on shares of Quince Therapeutics (NASDAQ:QNCX) in a research report issued on Wednesday. The firm set an “outperform” rating and a $4.00 price target on the stock. Leerink Partners’ price objective would suggest a potential upside of 313.14% from the company’s current price.

Several other equities analysts also recently commented on QNCX. Wall Street Zen upgraded shares of Quince Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Weiss Ratings cut Quince Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, May 1st. Finally, Cantor Fitzgerald assumed coverage on shares of Quince Therapeutics in a research note on Tuesday. They issued an “overweight” rating and a $4.00 price objective for the company. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $34.50.

Quince Therapeutics Trading Up 4.4%

QNCX stock opened at $0.97 on Wednesday. The business’s 50 day simple moving average is $1.14 and its 200 day simple moving average is $10.53. Quince Therapeutics has a 1-year low of $0.79 and a 1-year high of $45.50. The firm has a market capitalization of $15.78 million, a PE ratio of -0.09 and a beta of 1.40.

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

Hedge Funds Weigh In On Quince Therapeutics

Hedge funds have recently modified their holdings of the business. XTX Topco Ltd acquired a new position in Quince Therapeutics in the second quarter valued at $37,000. Nantahala Capital Management LLC purchased a new stake in Quince Therapeutics in the 2nd quarter valued at $4,172,000. Bridgeway Capital Management LLC lifted its position in shares of Quince Therapeutics by 20.9% during the second quarter. Bridgeway Capital Management LLC now owns 128,617 shares of the company’s stock valued at $212,000 after purchasing an additional 22,200 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of 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 buying an additional 309,349 shares during the last quarter. Finally, GSA Capital Partners LLP grew its stake in Quince Therapeutics by 158.0% in the 3rd 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 period. Institutional investors and hedge funds own 30.75% of the company’s stock.

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.