Wall Street Zen Downgrades Quince Therapeutics (NASDAQ:QNCX) to Sell

Quince Therapeutics (NASDAQ:QNCX) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

A number of other research analysts have also recently weighed in on the stock. Leerink Partners assumed coverage on shares of Quince Therapeutics in a report on Wednesday, June 24th. They issued an “outperform” rating and a $80.00 price objective for the company. Craig Hallum initiated coverage on shares of Quince Therapeutics in a research note on Thursday. They set a “buy” rating and a $68.00 target price on the stock. 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 on the stock. Weiss Ratings upgraded shares of Quince Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 12th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $70.00 price objective on shares of Quince Therapeutics in a research report on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $260.00.

Quince Therapeutics Price Performance

Shares of Quince Therapeutics stock opened at $33.93 on Friday. The stock has a market capitalization of $34.61 million, a price-to-earnings ratio of -0.22 and a beta of 1.36. The business has a 50-day moving average of $22.45 and a 200 day moving average of $24.91. Quince Therapeutics has a 12 month low of $15.10 and a 12 month high of $909.98.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in QNCX. BlackRock Inc. acquired a new stake in shares of Quince Therapeutics in the 2nd quarter valued at $31,000. Bridgeway Capital Management LLC grew its stake 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 worth $212,000 after purchasing an additional 22,200 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Quince Therapeutics during the second quarter worth $37,000. Intellectus Partners LLC acquired a new position in shares of Quince Therapeutics during the fourth quarter worth $179,000. Finally, Hudson Bay Capital Management LP purchased a new position in Quince Therapeutics in the fourth quarter valued at $213,000. Hedge funds and other institutional investors own 30.75% of the company’s stock.

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.