Quince Therapeutics, Inc. (NASDAQ:QNCX) Receives Average Recommendation of “Reduce” from Analysts

Quince Therapeutics, Inc. (NASDAQ:QNCX) has earned a consensus rating of “Reduce” from the seven analysts that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $65.00.

Several analysts have recently weighed in on QNCX shares. lowered shares of Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 29th. Citigroup lowered shares of Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a research report on Friday, January 30th. Wall Street Zen lowered shares of Quince Therapeutics to a “strong sell” rating in a research report on Saturday, April 18th. Lucid Cap Mkts lowered shares of Quince Therapeutics from a “strong-buy” rating to a “strong sell” rating in a research report on Friday, January 30th. Finally, D. Boral Capital lowered shares of Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th.

Institutional Trading of Quince Therapeutics

Institutional investors have recently made changes to their positions in the business. Nantahala Capital Management LLC lifted its holdings in Quince Therapeutics by 21.6% during the 3rd quarter. Nantahala Capital Management LLC now owns 3,073,729 shares of the company’s stock valued at $5,010,000 after purchasing an additional 545,427 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in Quince Therapeutics during the fourth quarter worth about $7,538,000. Vanguard Group Inc. grew its stake in Quince Therapeutics by 21.3% during the third 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 raised its stake in shares of Quince Therapeutics by 1,152.9% in the third quarter. Millennium Management LLC now owns 1,386,776 shares of the company’s stock valued at $2,260,000 after acquiring an additional 1,276,094 shares during the last quarter. Finally, Almitas Capital LLC raised its stake in shares of Quince Therapeutics by 88.0% in the fourth quarter. Almitas Capital LLC now owns 930,134 shares of the company’s stock valued at $3,116,000 after acquiring an additional 435,356 shares during the last quarter. 30.75% of the stock is currently owned by institutional investors and hedge funds.

Quince Therapeutics Stock Performance

Shares of Quince Therapeutics stock opened at $1.23 on Wednesday. The firm’s 50-day simple moving average is $1.19 and its 200-day simple moving average is $15.82. Quince Therapeutics has a twelve month low of $0.80 and a twelve month high of $45.50. The firm has a market cap of $20.05 million, a P/E ratio of -0.07 and a beta of 1.33.

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.