Zacks Research Upgrades Quince Therapeutics (NASDAQ:QNCX) to “Hold”

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

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

Quince Therapeutics Trading Up 2.6%

Shares of QNCX opened at $0.98 on Wednesday. The firm’s 50-day moving average is $1.13 and its two-hundred day moving average is $10.01. Quince Therapeutics has a twelve month low of $0.79 and a twelve month high of $45.50. The firm has a market capitalization of $15.91 million, a P/E ratio of -0.09 and a beta of 1.40.

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

Institutional Trading of Quince Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new stake in shares of Quince Therapeutics during the second quarter valued at $37,000. Nantahala Capital Management LLC acquired a new position in Quince Therapeutics in the 2nd quarter valued at about $4,172,000. Bridgeway Capital Management LLC lifted its holdings in 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 purchasing an additional 22,200 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Quince Therapeutics by 21.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,763,387 shares of the company’s stock valued at $2,874,000 after purchasing an additional 309,349 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its stake in shares of Quince Therapeutics by 158.0% during the 3rd quarter. GSA Capital Partners LLP now owns 87,235 shares of the company’s stock worth $142,000 after purchasing an additional 53,417 shares during the last quarter. 30.75% of the stock is currently owned by hedge funds and other 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.