Quince Therapeutics (NASDAQ:QNCX) Upgraded at Zacks Research

Quince Therapeutics (NASDAQ:QNCX) was upgraded by research analysts at Zacks Research to a “hold” rating in a report released on Wednesday,Zacks.com reports.

Several other brokerages also recently weighed in on QNCX. Weiss Ratings downgraded shares of Quince Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, May 1st. Wall Street Zen upgraded Quince Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Cantor Fitzgerald started coverage on Quince Therapeutics in a research note on Tuesday. They set an “overweight” rating and a $4.00 price objective for the company. Finally, Leerink Partners initiated coverage on Quince Therapeutics in a research report on Wednesday. They set an “outperform” rating and a $4.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $34.50.

Quince Therapeutics Price Performance

Shares of Quince Therapeutics stock opened at $0.98 on Wednesday. The firm’s fifty day simple moving average is $1.13 and its 200-day simple moving average is $10.01. The stock has a market capitalization of $15.91 million, a price-to-earnings ratio of -0.09 and a beta of 1.40. Quince Therapeutics has a 12 month low of $0.79 and a 12 month high of $45.50.

Quince Therapeutics (NASDAQ:QNCX) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.59) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.30) by $0.71. Analysts anticipate that Quince Therapeutics will post -0.43 earnings per share for the current year.

Hedge Funds Weigh In On Quince Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in QNCX. XTX Topco Ltd purchased a new position in shares of Quince Therapeutics during the 2nd quarter worth approximately $37,000. GSA Capital Partners LLP grew its holdings in Quince Therapeutics by 158.0% during the third quarter. GSA Capital Partners LLP now owns 87,235 shares of the company’s stock worth $142,000 after acquiring an additional 53,417 shares during the period. Intellectus Partners LLC acquired a new position in Quince Therapeutics during the fourth quarter worth $179,000. Bridgeway Capital Management LLC raised its position in Quince Therapeutics by 20.9% in the second quarter. Bridgeway Capital Management LLC now owns 128,617 shares of the company’s stock worth $212,000 after acquiring an additional 22,200 shares in the last quarter. Finally, Hudson Bay Capital Management LP purchased a new position in Quince Therapeutics in the fourth quarter worth $213,000. 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. 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.