Quince Therapeutics, Inc. (NASDAQ:QNCX) Given Consensus Recommendation of "Buy" by 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 given a consensus recommendation of "Buy" by the eleven ratings firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and three have issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $8.1429.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Two Sigma Investments LP purchased a new position in shares of Quince Therapeutics in the fourth quarter valued at $57,000. Northern Trust Corp boosted its stake in Quince Therapeutics by 48.5% during the 4th quarter. Northern Trust Corp now owns 50,524 shares of the company's stock valued at $94,000 after acquiring an additional 16,501 shares during the last quarter. Ieq Capital LLC bought a new position in Quince Therapeutics during the 1st quarter valued at $1,073,000. Virtu Financial LLC boosted its stake in Quince Therapeutics by 48.4% during the 1st quarter. Virtu Financial LLC now owns 43,332 shares of the company's stock valued at $58,000 after acquiring an additional 14,128 shares during the last quarter. Finally, Shay Capital LLC boosted its stake in 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 acquiring an additional 104,616 shares during the last quarter. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

Quince Therapeutics Trading Up 1.3%

QNCX stock traded up $0.02 on Tuesday, hitting $1.60. 132,719 shares of the company were exchanged, compared to its average volume of 226,183. Quince Therapeutics has a twelve month low of $0.69 and a twelve month high of $2.45. The business's fifty day moving average is $1.68 and its two-hundred day moving average is $1.38. The stock has a market capitalization of $85.94 million, a price-to-earnings ratio of -1.47 and a beta of 0.99. 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 (NASDAQ:QNCX - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.34) earnings per share for the quarter, missing analysts' consensus estimates of ($0.28) by ($0.06). As a group, research analysts forecast that Quince Therapeutics will post -1.21 earnings per share for the current year.

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.