Quince Therapeutics (NASDAQ:QNCX) Now Covered by 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 assumed coverage on shares of Quince Therapeutics (NASDAQ:QNCX - Free Report) in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage issued a market outperform rating and a $9.00 price objective on the stock.

Several other research firms have also recently issued reports on QNCX. Citizens Jmp initiated coverage on shares of Quince Therapeutics in a research report on Tuesday. They set a "strong-buy" rating and a $9.00 price objective on the stock. D. Boral Capital restated a "buy" rating and issued a $4.00 price target on shares of Quince Therapeutics in a research report on Thursday, July 17th. Finally, Wall Street Zen cut Quince Therapeutics from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, seven have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $8.29.

Quince Therapeutics Stock Performance

Shares of QNCX stock opened at $1.66 on Tuesday. The company has a quick ratio of 4.05, a current ratio of 4.05 and a debt-to-equity ratio of 0.82. The company has a 50 day moving average price of $1.52 and a 200-day moving average price of $1.36. Quince Therapeutics has a 52 week low of $0.51 and a 52 week high of $2.45. The firm has a market capitalization of $89.01 million, a PE ratio of -1.19 and a beta of 1.02.

Quince Therapeutics (NASDAQ:QNCX - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.10). As a group, equities research analysts expect that Quince Therapeutics will post -1.21 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ieq Capital LLC bought a new position in shares of Quince Therapeutics in the 1st quarter worth $1,073,000. Geode Capital Management LLC increased its position in shares of Quince Therapeutics by 10.9% during the fourth quarter. Geode Capital Management LLC now owns 375,932 shares of the company's stock worth $703,000 after purchasing an additional 36,807 shares in 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. Intellectus Partners LLC acquired a new position in shares of Quince Therapeutics during the first quarter valued at about $71,000. Finally, Northern Trust Corp raised its position in shares of Quince Therapeutics by 48.5% in the 4th quarter. Northern Trust Corp now owns 50,524 shares of the company's stock valued at $94,000 after purchasing an additional 16,501 shares during the last quarter. 30.75% of the stock is currently owned by institutional investors.

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.