Quince Therapeutics (NASDAQ:QNCX) Now Covered by Analysts at JMP Securities

Key Points

• JMP Securities has initiated coverage on Quince Therapeutics (NASDAQ: QNCX), setting a "market outperform" rating with a price target of $9.00, suggesting a potential upside of 452.15% from its current price.
• Despite the positive outlook from JMP Securities, other analysts have mixed views with one reducing the stock rating from "hold" to "sell," while the average consensus rating remains at "Buy" with a target price of $8.29.
• Quince Therapeutics recently reported a loss of $0.34 earnings per share, which was lower than the consensus estimate, indicating challenges ahead for the company's financial performance.

JMP Securities began coverage on shares of Quince Therapeutics (NASDAQ:QNCX - Free Report) in a research report released on Tuesday morning,Benzinga reports. The brokerage issued a market outperform rating and a $9.00 price objective on the stock.

QNCX has been the topic of a number of other research reports. D. Boral Capital reaffirmed a "buy" rating and set a $4.00 target price on shares of Quince Therapeutics in a research note on Thursday, July 17th. Citizens Jmp started coverage on Quince Therapeutics in a report on Tuesday. They issued a "strong-buy" rating and a $9.00 price target for the company. Finally, Wall Street Zen lowered Quince Therapeutics from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $8.29.

Quince Therapeutics Trading Down 1.2%

Shares of QNCX traded down $0.02 during mid-day trading on Tuesday, reaching $1.65. 188,608 shares of the company's stock traded hands, compared to its average volume of 207,301. The stock has a market cap of $88.47 million, a P/E ratio of -1.19 and a beta of 1.02. The stock's 50-day moving average is $1.55 and its two-hundred day moving average is $1.36. Quince Therapeutics has a 12 month low of $0.51 and a 12 month high of $2.45. The company has a debt-to-equity ratio of 0.82, a current ratio of 4.05 and a quick ratio of 4.05.

Quince Therapeutics (NASDAQ:QNCX - Get Free Report) last released its earnings results on Tuesday, May 13th. The company reported ($0.34) EPS for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.10). Research analysts forecast that Quince Therapeutics will post -1.21 earnings per share for the current fiscal year.

Institutional Trading of Quince Therapeutics

Hedge funds have recently bought and sold shares of the stock. Ieq Capital LLC purchased a new stake in shares of Quince Therapeutics during the 1st quarter valued at $1,073,000. Geode Capital Management LLC lifted its holdings in shares of Quince Therapeutics by 10.9% during the 4th quarter. Geode Capital Management LLC now owns 375,932 shares of the company's stock valued at $703,000 after purchasing an additional 36,807 shares during the last quarter. Shay Capital LLC lifted its holdings in shares of Quince Therapeutics by 60.8% during the 4th quarter. Shay Capital LLC now owns 276,799 shares of the company's stock valued at $518,000 after purchasing an additional 104,616 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new stake in shares of Quince Therapeutics during the 2nd quarter valued at $280,000. Finally, Intellectus Partners LLC purchased a new stake in shares of Quince Therapeutics during the 1st quarter valued at $71,000. Hedge funds and other institutional investors own 30.75% of the company's stock.

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.