Quince Therapeutics (NASDAQ:QNCX) Stock Price Up 1.2% - Time to Buy?

Key Points

• Quince Therapeutics' stock price increased by 1.2% to reach $1.63, with a notable trading volume that was 27% higher than average.
• Institutional investors are actively participating, with companies like Nantahala Capital Management and Ieq Capital recently acquiring significant stakes in Quince Therapeutics.
• Wall Street analysts have varied ratings on Quince Therapeutics, with a consensus rating of "Buy" and a target price averaging around $8.14.

Quince Therapeutics, Inc. (NASDAQ:QNCX - Get Free Report)'s share price was up 1.2% during mid-day trading on Tuesday . The stock traded as high as $1.65 and last traded at $1.63. Approximately 246,290 shares changed hands during mid-day trading, an increase of 27% from the average daily volume of 193,216 shares. The stock had previously closed at $1.61.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on QNCX. Zacks Research upgraded shares of Quince Therapeutics from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 26th. JMP Securities cut their target price 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. D. Boral Capital reissued a "buy" rating and issued a $4.00 target price on shares of Quince Therapeutics in a report on Friday, September 26th. Citizens Jmp assumed coverage on Quince Therapeutics in a report on Tuesday, August 5th. They set a "strong-buy" rating and a $9.00 price target on the stock. Finally, Citigroup initiated coverage on Quince Therapeutics in a research report on Tuesday, August 5th. They set an "outperform" rating on the stock. Three investment 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 company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $8.14.

Quince Therapeutics Stock Performance

The company has a current ratio of 5.00, a quick ratio of 5.00 and a debt-to-equity ratio of 1.45. The company has a market cap of $87.55 million, a P/E ratio of -1.50 and a beta of 0.99. The business's 50 day simple moving average is $1.65 and its 200 day simple moving average is $1.40.

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 analysts' consensus estimates of ($0.28) by ($0.06). Sell-side analysts predict that Quince Therapeutics, Inc. will post -1.21 earnings per share for the current fiscal year.

Institutional Trading of Quince Therapeutics

Institutional investors have recently made changes to their positions in the business. Nantahala Capital Management LLC bought a new stake in Quince Therapeutics during the 2nd quarter valued at approximately $4,172,000. Ieq Capital LLC purchased a new position in shares of Quince Therapeutics in the first quarter worth $1,073,000. Rockefeller Capital Management L.P. bought a new position in shares of Quince Therapeutics during the second quarter worth $280,000. Intellectus Partners LLC bought a new position in shares of Quince Therapeutics during the first quarter worth $71,000. Finally, Two Sigma Investments LP purchased a new position in Quince Therapeutics during the fourth quarter valued at $57,000. Hedge funds and other institutional investors own 30.75% of the company's stock.

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.

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