Quince Therapeutics (NASDAQ:QNCX) Earns Buy Rating from Analysts at Craig Hallum

Equities research analysts at Craig Hallum began coverage on shares of Quince Therapeutics (NASDAQ:QNCX) in a research report issued to clients and investors on Thursday. The brokerage set a “buy” rating and a $68.00 price target on the stock. Craig Hallum’s price target would suggest a potential upside of 96.70% from the company’s current price.

A number of other brokerages have also weighed in on QNCX. Oppenheimer started coverage on shares of Quince Therapeutics in a research note on Wednesday, July 29th. They issued an “outperform” rating and a $82.00 price target on the stock. Weiss Ratings raised shares of Quince Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, August 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $70.00 price objective on shares of Quince Therapeutics in a research report on Tuesday. Lifesci Capital raised shares of Quince Therapeutics to a “strong-buy” rating in a research note on Monday, June 29th. Finally, Zacks Research upgraded Quince Therapeutics to a “hold” rating in a report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $260.00.

Quince Therapeutics Stock Performance

QNCX opened at $34.57 on Thursday. Quince Therapeutics has a 52 week low of $15.10 and a 52 week high of $909.98. The firm has a market capitalization of $35.26 million, a PE ratio of -0.22 and a beta of 1.36. The company has a fifty day moving average price of $21.89 and a two-hundred day moving average price of $24.94.

Quince Therapeutics (NASDAQ:QNCX) last released its quarterly earnings results on Friday, August 14th. The company reported ($12.31) EPS for the quarter, topping analysts’ consensus estimates of ($28.02) by $15.71. Equities analysts forecast that Quince Therapeutics will post -0.96 EPS for the current year.

Institutional Investors Weigh In On Quince Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QNCX. XTX Topco Ltd bought a new stake in Quince Therapeutics during the 2nd quarter worth about $37,000. Nantahala Capital Management LLC bought a new position in shares of Quince Therapeutics in the 2nd quarter valued at about $4,172,000. Bridgeway Capital Management LLC grew its holdings in shares of Quince Therapeutics by 20.9% in the 2nd quarter. Bridgeway Capital Management LLC now owns 128,617 shares of the company’s stock valued at $212,000 after acquiring an additional 22,200 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Quince Therapeutics by 21.3% in the third 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. Finally, ADAR1 Capital Management LLC increased its position in shares of Quince Therapeutics by 442.1% in the third 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 last quarter. 30.75% of the stock is currently owned by institutional investors and hedge funds.

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.