Craig Hallum Initiates Coverage on Quince Therapeutics (NASDAQ:QNCX)

Investment analysts at Craig Hallum initiated coverage on shares of Quince Therapeutics (NASDAQ:QNCX) in a note issued to investors on Thursday. The firm set a “buy” rating and a $68.00 price target on the stock. Craig Hallum’s price objective points to a potential upside of 96.70% from the company’s current price.

A number of other equities analysts also recently weighed in on the company. Zacks Research raised Quince Therapeutics to a “hold” rating in a research report on Wednesday, June 24th. Oppenheimer began coverage on Quince Therapeutics in a research report on Wednesday, July 29th. They issued an “outperform” rating and a $82.00 price objective for the company. Leerink Partners initiated coverage on Quince Therapeutics in a research note on Wednesday, June 24th. They set an “outperform” rating and a $80.00 target price for the company. Wall Street Zen raised Quince Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $70.00 price target on shares of Quince Therapeutics in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Quince Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $260.00.

Quince Therapeutics Price Performance

Shares of QNCX stock opened at $34.57 on Thursday. 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 has a one year low of $15.10 and a one year high of $909.98. The stock has a market cap of $35.26 million, a P/E ratio of -0.22 and a beta of 1.36.

Quince Therapeutics (NASDAQ:QNCX) last released its quarterly earnings data on Friday, August 14th. The company reported ($12.31) earnings per share for the quarter, topping the consensus estimate of ($28.02) by $15.71. As a group, equities research analysts anticipate that Quince Therapeutics will post -0.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in Quince Therapeutics during the second quarter worth approximately $31,000. Superstring Capital Management LP acquired a new position in shares of Quince Therapeutics in the fourth quarter valued at approximately $2,877,000. Quadrature Capital Ltd bought a new position in shares of Quince Therapeutics during the fourth quarter worth approximately $268,000. 683 Capital Management LLC bought a new position in shares of Quince Therapeutics during the fourth quarter worth approximately $798,000. Finally, Almitas Capital LLC lifted its holdings in Quince Therapeutics by 88.0% during the 4th quarter. Almitas Capital LLC now owns 930,134 shares of the company’s stock worth $3,116,000 after purchasing an additional 435,356 shares during the last quarter. 30.75% of the stock is owned by institutional investors.

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.