Quince Therapeutics, Inc. (NASDAQ:QNCX) Given Consensus Recommendation of “Hold” by Analysts

Shares of Quince Therapeutics, Inc. (NASDAQ:QNCX) have been given a consensus rating of “Hold” by the twelve brokerages that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $260.00.

QNCX has been the subject of several recent analyst reports. Oppenheimer initiated coverage on shares of Quince Therapeutics in a report on Wednesday, July 29th. They issued an “outperform” rating and a $82.00 price objective for the company. Leerink Partners began coverage on Quince Therapeutics in a report on Wednesday, June 24th. They set an “outperform” rating and a $80.00 target price on the stock. Zacks Research upgraded Quince Therapeutics to a “hold” rating in a research report on Wednesday, June 24th. Craig Hallum raised Quince Therapeutics to a “strong-buy” rating in a research note on Thursday, August 27th. Finally, Wall Street Zen cut Quince Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd.

Quince Therapeutics Stock Up 9.1%

Shares of QNCX opened at $29.48 on Friday. The firm has a market capitalization of $30.07 million, a PE ratio of -0.19 and a beta of 1.31. The firm has a 50-day moving average price of $27.43 and a 200 day moving average price of $23.66. Quince Therapeutics has a 52-week low of $15.10 and a 52-week high of $909.98.

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.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. 683 Capital Management LLC acquired a new position in Quince Therapeutics during the fourth quarter worth about $798,000. Intellectus Partners LLC acquired a new stake in Quince Therapeutics in the 4th quarter valued at about $179,000. Finally, BlackRock Inc. acquired a new stake in Quince Therapeutics in the 2nd quarter valued at about $31,000. Institutional investors own 30.75% of the company’s stock.

Quince Therapeutics Company Profile

Quince Therapeutics, Inc is a clinical-stage biotechnology company focused on developing treatments for rare diseases. The company’s research centers on its erythrocyte-derived extracellular vesicle (EEV) platform, which uses patients’ red blood cells to encapsulate and deliver therapeutic compounds.

Quince’s lead investigational product is eDSP, formerly known as EryDex, an autologous red-blood-cell-based formulation of dexamethasone sodium phosphate being developed for ataxia-telangiectasia (A-T).