Brokerages Set Quince Therapeutics, Inc. (NASDAQ:QNCX) Price Target at $8.00

Shares of Quince Therapeutics, Inc. (NASDAQ:QNCX) have received an average rating of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $8.00.

Several brokerages have recently weighed in on QNCX. D. Boral Capital lifted their target price on shares of Quince Therapeutics from $4.00 to $5.00 and gave the company a “buy” rating in a report on Monday, December 15th. Citigroup restated a “market outperform” rating on shares of Quince Therapeutics in a research report on Tuesday, January 6th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Quince Therapeutics in a research report on Monday, December 29th.

Institutional Investors Weigh In On Quince Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nantahala Capital Management LLC acquired a new position in shares of Quince Therapeutics during the 2nd quarter worth $4,172,000. Millennium Management LLC lifted its holdings in Quince Therapeutics by 1,152.9% in the 3rd quarter. Millennium Management LLC now owns 1,386,776 shares of the company’s stock valued at $2,260,000 after purchasing an additional 1,276,094 shares in the last quarter. ADAR1 Capital Management LLC boosted its position in Quince Therapeutics by 442.1% during the third quarter. ADAR1 Capital Management LLC now owns 775,034 shares of the company’s stock worth $1,263,000 after acquiring an additional 632,076 shares during the last quarter. Almitas Capital LLC purchased a new stake in shares of Quince Therapeutics in the third quarter valued at $806,000. Finally, Vanguard Group Inc. increased its stake in shares of Quince Therapeutics by 21.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,763,387 shares of the company’s stock valued at $2,874,000 after acquiring an additional 309,349 shares during the last quarter. Institutional investors and hedge funds own 30.75% of the company’s stock.

Quince Therapeutics Trading Up 23.3%

Shares of QNCX stock opened at $3.55 on Monday. The company has a market capitalization of $197.66 million, a P/E ratio of -2.93 and a beta of 1.15. The business’s 50 day moving average is $3.08 and its two-hundred day moving average is $2.19. Quince Therapeutics has a twelve month low of $0.72 and a twelve month high of $4.55.

Quince Therapeutics (NASDAQ:QNCX) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.05). As a group, equities analysts predict that Quince Therapeutics will post -1.21 earnings per share for the current fiscal year.

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.