Quince Therapeutics, Inc. (NASDAQ:QNCX) Receives $8.00 Average PT from Brokerages

Quince Therapeutics, Inc. (NASDAQ:QNCX) has earned an average recommendation of “Buy” from the seven research firms that are presently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $8.00.

QNCX has been the topic of several analyst reports. Oppenheimer initiated coverage on shares of Quince Therapeutics in a research note on Monday, March 24th. They issued an “outperform” rating and a $10.00 price target on the stock. D. Boral Capital dropped their price target on shares of Quince Therapeutics from $12.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, March 25th.

Quince Therapeutics Stock Performance

Shares of NASDAQ QNCX opened at $1.02 on Wednesday. The company has a quick ratio of 9.53, a current ratio of 9.53 and a debt-to-equity ratio of 0.33. The firm’s 50-day moving average price is $1.21 and its two-hundred day moving average price is $1.52. Quince Therapeutics has a 52-week low of $0.51 and a 52-week high of $2.45. The stock has a market capitalization of $45.01 million, a P/E ratio of -0.82 and a beta of 0.83.

Quince Therapeutics (NASDAQ:QNCX) last announced its quarterly earnings results on Monday, March 24th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.09). The business had revenue of $0.17 million for the quarter. As a group, sell-side analysts forecast that Quince Therapeutics will post -1.21 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Anfield Capital Management LLC acquired a new position in shares of Quince Therapeutics during the fourth quarter valued at approximately $50,000. Virtu Financial LLC acquired a new position in shares of Quince Therapeutics during the fourth quarter valued at approximately $55,000. Two Sigma Investments LP acquired a new position in Quince Therapeutics in the fourth quarter worth approximately $57,000. Intellectus Partners LLC acquired a new position in Quince Therapeutics in the first quarter worth approximately $71,000. Finally, Northern Trust Corp grew its position in Quince Therapeutics by 48.5% in the fourth quarter. Northern Trust Corp now owns 50,524 shares of the company’s stock worth $94,000 after buying an additional 16,501 shares during the last quarter. Institutional investors and hedge funds 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.