Quince Therapeutics (NASDAQ:QNCX) Upgraded by Craig Hallum to Strong-Buy Rating

Craig Hallum upgraded shares of Quince Therapeutics (NASDAQ:QNCX) to a strong-buy rating in a research note published on Thursday,Zacks.com reports.

Several other equities research analysts also recently issued reports on the company. Wall Street Zen downgraded Quince Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Cantor Fitzgerald reissued an “overweight” rating and set a $70.00 price objective on shares of Quince Therapeutics in a report on Tuesday, August 18th. Weiss Ratings downgraded Quince Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday. Lifesci Capital raised Quince Therapeutics to a “strong-buy” rating in a report on Monday, June 29th. Finally, Leerink Partners initiated coverage on Quince Therapeutics in a research report on Wednesday, June 24th. They set an “outperform” rating and a $80.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $260.00.

Quince Therapeutics Stock Performance

Shares of Quince Therapeutics stock opened at $32.50 on Thursday. The stock has a market capitalization of $33.05 million, a P/E ratio of -0.21 and a beta of 1.36. Quince Therapeutics has a 52-week low of $15.10 and a 52-week high of $909.98. The stock’s 50-day simple moving average is $23.55 and its 200 day simple moving average is $24.98.

Quince Therapeutics (NASDAQ:QNCX) last issued 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 Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of QNCX. BlackRock Inc. bought a new position in shares of Quince Therapeutics in the second quarter worth approximately $31,000. XTX Topco Ltd bought a new stake in Quince Therapeutics during the second quarter valued at approximately $37,000. Intellectus Partners LLC purchased a new position in Quince Therapeutics in the 4th quarter worth approximately $179,000. Bridgeway Capital Management LLC grew its stake in Quince Therapeutics by 20.9% in the 2nd quarter. Bridgeway Capital Management LLC now owns 128,617 shares of the company’s stock worth $212,000 after buying an additional 22,200 shares in the last quarter. Finally, Hudson Bay Capital Management LP bought a new position in shares of Quince Therapeutics in the 4th quarter worth $213,000. Hedge funds and other institutional investors 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.