Brokerages Set Quince Therapeutics, Inc. (NASDAQ:QNCX) PT at $8.14

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 earned an average recommendation of "Buy" from the ten brokerages that are presently covering the stock, Marketbeat.com reports. Seven equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $8.1429.

Several analysts have commented on QNCX shares. Citizens Jmp started coverage on shares of Quince Therapeutics in a research report on Tuesday, August 5th. They set a "strong-buy" rating and a $9.00 target price for the company. D. Boral Capital reiterated a "buy" rating and set a $4.00 target price on shares of Quince Therapeutics in a research report on Friday. Wall Street Zen cut shares of Quince Therapeutics from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. JMP Securities dropped 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 report on Tuesday, August 12th. Finally, Citigroup started coverage on shares of Quince Therapeutics in a research report on Tuesday, August 5th. They set an "outperform" rating for the company.

Hedge Funds Weigh In On Quince Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bridgeway Capital Management LLC boosted 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 worth $212,000 after purchasing an additional 22,200 shares during the period. Nantahala Capital Management LLC acquired a new position in Quince Therapeutics in the 2nd quarter worth $4,172,000. XTX Topco Ltd acquired a new position in Quince Therapeutics in the 2nd quarter worth $37,000. Rockefeller Capital Management L.P. bought a new stake in Quince Therapeutics during the 2nd quarter worth about $280,000. Finally, Ieq Capital LLC bought a new stake in Quince Therapeutics during the 1st quarter worth about $1,073,000. 30.75% of the stock is owned by institutional investors and hedge funds.

Quince Therapeutics Trading Up 0.6%

QNCX stock traded up $0.01 during trading on Friday, hitting $1.69. The company had a trading volume of 160,672 shares, compared to its average volume of 216,585. The company has a quick ratio of 4.05, a current ratio of 5.00 and a debt-to-equity ratio of 1.45. The firm has a 50-day moving average price of $1.61 and a 200-day moving average price of $1.37. Quince Therapeutics has a 12 month low of $0.53 and a 12 month high of $2.45. The stock has a market cap of $90.78 million, a price-to-earnings ratio of -1.55 and a beta of 1.02.

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