Quince Therapeutics (NASDAQ:QNCX) Stock Rating Upgraded by Craig Hallum

Quince Therapeutics (NASDAQ:QNCX) was upgraded by analysts at Craig Hallum to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Zacks Research raised shares of Quince Therapeutics to a “hold” rating in a research report on Wednesday, June 24th. Oppenheimer assumed coverage on Quince Therapeutics in a report on Wednesday, July 29th. They issued an “outperform” rating and a $82.00 target price on the stock. Leerink Partners started coverage on Quince Therapeutics in a report on Wednesday, June 24th. They set an “outperform” rating and a $80.00 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $70.00 price objective on shares of Quince Therapeutics in a research report on Tuesday, August 18th. Finally, Wall Street Zen downgraded Quince Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Quince Therapeutics currently has an average rating of “Hold” and an average price target of $260.00.

Quince Therapeutics Stock Up 3.8%

Shares of NASDAQ:QNCX opened at $32.50 on Thursday. The firm’s 50 day moving average price is $23.55 and its 200 day moving average price is $24.98. The stock has a market cap of $33.05 million, a price-to-earnings ratio of -0.21 and a beta of 1.36. Quince Therapeutics has a fifty-two week low of $15.10 and a fifty-two week high of $909.98.

Quince Therapeutics (NASDAQ:QNCX) last issued its quarterly earnings results on Friday, August 14th. The company reported ($12.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($28.02) by $15.71.

Institutional Investors Weigh In On Quince Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in Quince Therapeutics in the second quarter valued at $31,000. XTX Topco Ltd purchased a new position in shares of Quince Therapeutics during the second quarter worth about $37,000. Intellectus Partners LLC purchased a new position in shares of Quince Therapeutics during the fourth quarter worth about $179,000. Hudson Bay Capital Management LP acquired a new stake in shares of Quince Therapeutics during the fourth quarter worth about $213,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Quince Therapeutics during the fourth quarter worth about $268,000. 30.75% of the stock is currently owned by institutional investors and hedge funds.

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.