Quince Therapeutics (NASDAQ:QNCX) Stock Bumped Up to “Hold” by Zacks Research

Zacks Research upgraded shares of Quince Therapeutics (NASDAQ:QNCX) to a hold rating in a research note issued to investors on Thursday,Zacks reports.

Other research analysts have also recently issued reports about the company. Oppenheimer initiated coverage on Quince Therapeutics in a research report on Wednesday, July 29th. They set an “outperform” rating and a $82.00 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $70.00 price target on shares of Quince Therapeutics in a research report on Tuesday, August 18th. Weiss Ratings upgraded Quince Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday. Leerink Partners initiated coverage on Quince Therapeutics in a report on Wednesday, June 24th. They issued an “outperform” rating and a $80.00 price objective for the company. Finally, Craig Hallum raised shares of Quince Therapeutics to a “strong-buy” rating in a research note on Thursday, August 27th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Quince Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $206.71.

Quince Therapeutics Trading Down 4.8%

Shares of QNCX stock opened at $29.20 on Thursday. Quince Therapeutics has a 1 year low of $15.10 and a 1 year high of $909.98. The firm’s fifty day moving average price is $29.83 and its two-hundred day moving average price is $24.33. The firm has a market capitalization of $29.78 million, a P/E ratio of -0.19 and a beta of 1.33.

Quince Therapeutics (NASDAQ:QNCX) last posted its quarterly earnings data on Friday, August 14th. The company reported ($12.31) EPS for the quarter, topping analysts’ consensus estimates of ($28.02) by $15.71. As a group, equities research analysts forecast that Quince Therapeutics will post -8 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in shares of Quince Therapeutics during the 2nd quarter worth approximately $31,000. Intellectus Partners LLC acquired a new stake in Quince Therapeutics during the 4th quarter valued at $179,000. Finally, 683 Capital Management LLC acquired a new stake in Quince Therapeutics during the 4th quarter valued at $798,000. 30.75% of the stock is currently owned by institutional investors.

Quince Therapeutics Company Profile

Quince Therapeutics, Inc is a clinical-stage biotechnology company focused on developing treatments for rare diseases. The company’s research centers on its erythrocyte-derived extracellular vesicle (EEV) platform, which uses patients’ red blood cells to encapsulate and deliver therapeutic compounds.

Quince’s lead investigational product is eDSP, formerly known as EryDex, an autologous red-blood-cell-based formulation of dexamethasone sodium phosphate being developed for ataxia-telangiectasia (A-T).