JMP Securities Issues Pessimistic Forecast for Quince Therapeutics (NASDAQ:QNCX) Stock Price

Key Points

• Quince Therapeutics had its price target reduced from $9.00 to $8.00 by JMP Securities, while maintaining a "market outperform" rating, indicating a potential upside of 409.55% from the current price.
• The stock has shown significant volatility, with a 12-month low of $0.51 and a high of $2.45, and it currently trades around $1.57.
• Several institutional investors have recently increased their stakes in Quince Therapeutics, highlighting growing interest in the company, which focuses on developing therapeutics for rare diseases.

Quince Therapeutics (NASDAQ:QNCX - Get Free Report) had its target price decreased by equities research analysts at JMP Securities from $9.00 to $8.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a "market outperform" rating on the stock. JMP Securities' price target would indicate a potential upside of 376.19% from the company's previous close.

Other equities research analysts have also issued research reports about the company. D. Boral Capital reaffirmed a "buy" rating and issued a $4.00 price objective on shares of Quince Therapeutics in a report on Thursday, July 17th. Wall Street Zen lowered 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 report on Tuesday, August 5th. They issued a "strong-buy" rating and a $9.00 price objective on the stock. One analyst has rated the stock with a sell rating, seven have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, Quince Therapeutics currently has a consensus rating of "Buy" and a consensus price target of $8.14.

Quince Therapeutics Stock Performance

NASDAQ QNCX traded down $0.04 during trading on Tuesday, reaching $1.68. The company's stock had a trading volume of 126,612 shares, compared to its average volume of 217,956. The company has a debt-to-equity ratio of 1.45, a quick ratio of 4.05 and a current ratio of 5.00. The firm has a market cap of $90.23 million, a price-to-earnings ratio of -1.54 and a beta of 1.02. Quince Therapeutics has a twelve month low of $0.51 and a twelve month high of $2.45. The business's fifty day moving average price is $1.60 and its 200-day moving average price is $1.37.

Quince Therapeutics (NASDAQ:QNCX - Get Free Report) last issued 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). As a group, analysts anticipate that Quince Therapeutics will post -1.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in QNCX. Geode Capital Management LLC grew its position in 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 period. Northern Trust Corp grew its position in Quince Therapeutics by 48.5% during the fourth quarter. Northern Trust Corp now owns 50,524 shares of the company's stock worth $94,000 after buying an additional 16,501 shares during the period. Shay Capital LLC grew its position in 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 buying an additional 104,616 shares during the period. Two Sigma Investments LP acquired a new position in Quince Therapeutics during the fourth quarter worth about $57,000. Finally, Intellectus Partners LLC acquired a new position in Quince Therapeutics during the first quarter worth about $71,000. 30.75% of the stock is currently owned by institutional investors and hedge funds.

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.