Quince Therapeutics, Inc. (NASDAQ:QNCX) Receives Average Rating of "Buy" from Analysts

Key Points

• Quince Therapeutics, Inc. has received an average stock rating of "Buy" from eleven brokerages, with three analysts issuing a strong buy rating and one a hold rating.
• The stock has a current market cap of $84.32 million and a 12-month average price target of $8.14 among brokers.
• Quince Therapeutics recently reported a quarterly earnings loss of ($0.34) per share, which was below analysts' expectations of ($0.28).

Quince Therapeutics, Inc. (NASDAQ:QNCX - Get Free Report) has been assigned a consensus rating of "Buy" from the eleven research firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $8.1429.

Several analysts have recently weighed in on the stock. Citizens Jmp assumed coverage on shares of Quince Therapeutics in a report on Tuesday, August 5th. They set a "strong-buy" rating and a $9.00 price objective for the company. JMP Securities lowered their price target on shares of Quince Therapeutics from $9.00 to $8.00 and set a "market outperform" rating for the company in a report on Tuesday, August 12th. Wall Street Zen cut shares of Quince Therapeutics from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. D. Boral Capital reaffirmed a "buy" rating and issued a $4.00 price objective on shares of Quince Therapeutics in a research note on Friday, August 15th. Finally, Citigroup started coverage on Quince Therapeutics in a research note on Tuesday, August 5th. They set an "outperform" rating on the stock.

Quince Therapeutics Stock Up 1.3%

NASDAQ:QNCX traded up $0.02 during trading hours on Tuesday, reaching $1.60. The company's stock had a trading volume of 132,719 shares, compared to its average volume of 116,644. The company has a debt-to-equity ratio of 1.45, a current ratio of 5.00 and a quick ratio of 5.00. Quince Therapeutics has a one year low of $0.69 and a one year high of $2.45. The business's 50-day moving average is $1.68 and its 200-day moving average is $1.38. The company has a market cap of $85.94 million, a price-to-earnings ratio of -1.47 and a beta of 0.99.

Quince Therapeutics (NASDAQ:QNCX - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.28) by ($0.06). Equities research analysts predict that Quince Therapeutics will post -1.21 EPS for the current year.

Institutional Investors Weigh In On Quince Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bridgeway Capital Management LLC increased its stake 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 during the last quarter. Nantahala Capital Management LLC bought a new stake in shares of Quince Therapeutics in the 2nd quarter valued at about $4,172,000. XTX Topco Ltd bought a new stake in shares of Quince Therapeutics in the 2nd quarter valued at about $37,000. Rockefeller Capital Management L.P. bought a new stake in shares of Quince Therapeutics in the 2nd quarter valued at about $280,000. Finally, Ieq Capital LLC bought a new stake in shares of Quince Therapeutics in the 1st quarter valued at about $1,073,000. 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.