Quince Therapeutics, Inc. (NASDAQ:QNCX) Given Average Rating of “Reduce” by Analysts

Shares of Quince Therapeutics, Inc. (NASDAQ:QNCX) have been assigned a consensus recommendation of “Reduce” from the seven ratings firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $65.00.

A number of brokerages have weighed in on QNCX. Wall Street Zen upgraded shares of Quince Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Weiss Ratings lowered shares of Quince Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, May 1st.

Institutional Investors Weigh In On Quince Therapeutics

A number of hedge funds have recently modified their holdings of QNCX. Nantahala Capital Management LLC bought a new stake in shares of Quince Therapeutics during the 2nd quarter valued at $4,172,000. Adage Capital Partners GP L.L.C. bought a new stake in shares of Quince Therapeutics during the 4th quarter valued at $7,538,000. Millennium Management LLC grew its position in shares of Quince Therapeutics by 1,152.9% during the 3rd quarter. Millennium Management LLC now owns 1,386,776 shares of the company’s stock valued at $2,260,000 after acquiring an additional 1,276,094 shares during the period. Superstring Capital Management LP bought a new stake in shares of Quince Therapeutics during the 4th quarter valued at $2,877,000. Finally, ADAR1 Capital Management LLC grew its position in shares of Quince Therapeutics by 442.1% during the 3rd quarter. ADAR1 Capital Management LLC now owns 775,034 shares of the company’s stock valued at $1,263,000 after acquiring an additional 632,076 shares during the period. Institutional investors own 30.75% of the company’s stock.

Quince Therapeutics Trading Down 6.2%

Shares of QNCX opened at $0.91 on Thursday. The firm has a market cap of $14.83 million, a PE ratio of -0.09 and a beta of 1.40. The firm has a fifty day simple moving average of $1.19 and a two-hundred day simple moving average of $12.43. Quince Therapeutics has a 1-year low of $0.79 and a 1-year high of $45.50.

Quince Therapeutics (NASDAQ:QNCX) last announced its earnings results on Monday, May 11th. The company reported ($0.59) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.30) by $0.71.

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.