Quince Therapeutics (NASDAQ:QNCX) Posts Earnings Results

Quince Therapeutics (NASDAQ:QNCX) released its earnings results on Monday, May 11th. The company reported ($0.59) earnings per share for the quarter, beating the consensus estimate of ($26.00) by $25.41, Zacks reports.

Quince Therapeutics Price Performance

Shares of Quince Therapeutics stock opened at $0.92 on Tuesday. The stock has a market cap of $15.01 million, a P/E ratio of -0.09 and a beta of 1.40. The stock’s 50 day simple moving average is $1.11 and its 200-day simple moving average is $9.47. Quince Therapeutics has a 1-year low of $0.79 and a 1-year high of $45.50.

Wall Street Analyst Weigh In

Several analysts recently commented on QNCX shares. Zacks Research upgraded Quince Therapeutics to a “hold” rating in a research report on Wednesday, June 24th. Weiss Ratings lowered Quince Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, May 1st. Leerink Partners started coverage on shares of Quince Therapeutics in a research note on Wednesday, June 24th. They set an “outperform” rating and a $80.00 target price on the stock. Cantor Fitzgerald assumed coverage on shares of Quince Therapeutics in a report on Tuesday, June 23rd. They set an “overweight” rating and a $80.00 target price for the company. Finally, Lifesci Capital raised shares of Quince Therapeutics to a “strong-buy” rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Quince Therapeutics presently has a consensus rating of “Hold” and an average target price of $690.00.

Institutional Investors Weigh In On Quince Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd purchased a new position in Quince Therapeutics during the second quarter worth approximately $37,000. Nantahala Capital Management LLC acquired a new position in Quince Therapeutics during the second quarter worth $4,172,000. Bridgeway Capital Management LLC grew 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 buying an additional 22,200 shares in the last quarter. Vanguard Group Inc. grew 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 buying an additional 309,349 shares in the last quarter. Finally, ADAR1 Capital Management LLC grew its holdings in Quince Therapeutics by 442.1% in the 3rd quarter. ADAR1 Capital Management LLC now owns 775,034 shares of the company’s stock valued at $1,263,000 after buying an additional 632,076 shares in the last quarter. Institutional investors and hedge funds own 30.75% of the company’s stock.

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.