Quince Therapeutics, Inc. (NASDAQ:QNCX) Given Consensus Recommendation of "Buy" by Brokerages

Key Points

• Quince Therapeutics, Inc. has received an average recommendation of "Buy" from analysts, with seven analysts suggesting a buy and three issuing a strong buy recommendation.
• The average 12-month target price for Quince Therapeutics stock is $8.14, indicating potential growth based on analyst estimates.
• Shares of Quince Therapeutics recently traded at $1.69, reflecting a slight increase, with the company also experiencing a quarterly loss of ($0.34) earnings per share which was below analysts’ expectations.

Quince Therapeutics, Inc. (NASDAQ:QNCX - Get Free Report) has been assigned a consensus rating of "Buy" from the ten brokerages that are covering the company, Marketbeat reports. Seven equities research analysts have rated the stock with a buy recommendation and three have given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $8.1429.

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

Institutional Investors Weigh In On Quince Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Two Sigma Investments LP acquired a new position in shares of Quince Therapeutics in the 4th quarter valued at $57,000. Northern Trust Corp raised its holdings in shares of Quince Therapeutics by 48.5% in the fourth quarter. Northern Trust Corp now owns 50,524 shares of the company's stock valued at $94,000 after buying an additional 16,501 shares during the last quarter. Geode Capital Management LLC grew its holdings 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 buying an additional 36,807 shares during the last quarter. Virtu Financial LLC increased its holdings in shares of Quince Therapeutics by 48.4% in the first quarter. Virtu Financial LLC now owns 43,332 shares of the company's stock valued at $58,000 after purchasing an additional 14,128 shares during the period. Finally, Shay Capital LLC raised its stake in shares of Quince Therapeutics by 60.8% during the fourth quarter. Shay Capital LLC now owns 276,799 shares of the company's stock worth $518,000 after purchasing an additional 104,616 shares during the last quarter. Hedge funds and other institutional investors own 30.75% of the company's stock.

Quince Therapeutics Stock Down 3.0%

QNCX stock traded down $0.05 during midday trading on Friday, hitting $1.62. The company's stock had a trading volume of 75,353 shares, compared to its average volume of 236,799. Quince Therapeutics has a 52-week low of $0.5609 and a 52-week high of $2.45. The firm has a 50-day simple moving average of $1.62 and a 200-day simple moving average of $1.36. The company has a quick ratio of 5.00, a current ratio of 5.00 and a debt-to-equity ratio of 1.45. The firm has a market capitalization of $87.01 million, a P/E ratio of -1.49 and a beta of 1.02.

Quince Therapeutics (NASDAQ:QNCX - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.06). As a group, equities analysts forecast that Quince Therapeutics will post -1.21 EPS for the current year.

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.