Quince Therapeutics (NASDAQ:QNCX) Rating Increased to Hold at Zacks Research

Key Points

• Quince Therapeutics has been upgraded from a "strong sell" to a "hold" rating by Zacks Research, reflecting a shift in analyst sentiment.
• The company's stock price fell by 2.5%, opening at $1.56, with a market capitalization of $83.79 million.
• Despite a recent earnings miss of ($0.34) per share, Quince Therapeutics has a consensus rating of "Buy" among analysts, with an average price target of $8.14.

Zacks Research upgraded shares of Quince Therapeutics (NASDAQ:QNCX - Free Report) from a strong sell rating to a hold rating in a report published on Tuesday,Zacks.com reports.

Other analysts also recently issued research reports about the company. Citizens Jmp started coverage on Quince Therapeutics in a report on Tuesday, August 5th. They set a "strong-buy" rating and a $9.00 price objective on the stock. Citigroup started coverage on Quince Therapeutics in a report on Tuesday, August 5th. They set an "outperform" rating on the stock. JMP Securities cut their price objective on Quince Therapeutics from $9.00 to $8.00 and set a "market outperform" rating on the stock in a report on Tuesday, August 12th. D. Boral Capital reaffirmed a "buy" rating and set a $4.00 target price on shares of Quince Therapeutics in a research note on Friday, August 15th. Finally, Wall Street Zen cut Quince Therapeutics from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Three analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Quince Therapeutics has a consensus rating of "Buy" and an average target price of $8.14.

Quince Therapeutics Price Performance

NASDAQ QNCX traded up $0.06 on Tuesday, reaching $1.60. The company's stock had a trading volume of 224,871 shares, compared to its average volume of 202,930. Quince Therapeutics has a twelve month low of $0.66 and a twelve month high of $2.45. The company has a debt-to-equity ratio of 1.45, a quick ratio of 5.00 and a current ratio of 5.00. The stock has a market cap of $85.94 million, a PE ratio of -1.47 and a beta of 0.99. The firm's 50 day moving average is $1.67 and its two-hundred day moving average 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 for the quarter, missing analysts' consensus estimates of ($0.28) by ($0.06). As a group, sell-side analysts predict that Quince Therapeutics will post -1.21 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in QNCX. XTX Topco Ltd bought a new position in shares of Quince Therapeutics in the 2nd quarter valued at approximately $37,000. Two Sigma Investments LP bought a new position in shares of Quince Therapeutics in the 4th quarter valued at approximately $57,000. Virtu Financial LLC raised its stake in shares of Quince Therapeutics by 48.4% in 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 in the last quarter. Intellectus Partners LLC bought a new position in shares of Quince Therapeutics in the 1st quarter valued at approximately $71,000. Finally, Northern Trust Corp grew its holdings in Quince Therapeutics by 48.5% in the 4th 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. 30.75% of the stock is owned by institutional investors.

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.