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

Quince Therapeutics, Inc. (NASDAQ:QNCX) has earned a consensus rating of “Reduce” from the seven analysts that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $6.50.

A number of equities analysts have commented on QNCX shares. Citigroup cut Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a report on Friday, January 30th. downgraded Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 29th. D. Boral Capital lowered shares of Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Citizens Jmp cut shares of Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a report on Friday, January 30th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Quince Therapeutics in a research report on Monday, December 29th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of QNCX. Nantahala Capital Management LLC increased its position in shares of Quince Therapeutics by 21.6% during the third quarter. Nantahala Capital Management LLC now owns 3,073,729 shares of the company’s stock worth $5,010,000 after purchasing an additional 545,427 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in Quince Therapeutics during the 4th quarter worth $7,538,000. Vanguard Group Inc. grew its stake in Quince Therapeutics by 21.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,763,387 shares of the company’s stock worth $2,874,000 after buying an additional 309,349 shares during the last quarter. Millennium Management LLC increased its position in 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 buying an additional 1,276,094 shares in the last quarter. Finally, Almitas Capital LLC increased its position in Quince Therapeutics by 88.0% during the 4th quarter. Almitas Capital LLC now owns 930,134 shares of the company’s stock valued at $3,116,000 after buying an additional 435,356 shares in the last quarter. Hedge funds and other institutional investors own 30.75% of the company’s stock.

Quince Therapeutics Stock Performance

QNCX opened at $0.10 on Friday. Quince Therapeutics has a one year low of $0.08 and a one year high of $4.55. The stock has a market cap of $5.70 million, a price-to-earnings ratio of -0.08 and a beta of 1.33. The stock’s 50 day moving average price is $0.45 and its 200-day moving average price is $1.79.

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.