Quince Therapeutics Shares Scheduled to Reverse Split on Tuesday, June 30th (NASDAQ:QNCX)

Quince Therapeutics, Inc. (NASDAQ:QNCXFree Report) shares are set to reverse split before the market opens on Tuesday, June 30th. The 1-20 reverse split was announced on Friday, June 26th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, June 29th.

Quince Therapeutics Price Performance

NASDAQ QNCX traded down $0.03 on Friday, reaching $0.94. The company had a trading volume of 321,432 shares, compared to its average volume of 5,849,831. The firm has a market capitalization of $15.38 million, a PE ratio of -0.09 and a beta of 1.40. Quince Therapeutics has a 1 year low of $0.79 and a 1 year high of $45.50. The firm has a 50-day moving average of $1.13 and a 200-day moving average of $10.01.

Quince Therapeutics (NASDAQ:QNCXGet Free Report) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.59) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.30) by $0.71. As a group, sell-side analysts expect that Quince Therapeutics will post -0.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on QNCX shares. Leerink Partners began coverage on shares of Quince Therapeutics in a report on Wednesday. They set an “outperform” rating and a $4.00 price target for the company. Cantor Fitzgerald initiated coverage on shares of Quince Therapeutics in a research report on Tuesday. They issued an “overweight” rating and a $4.00 price objective for the company. Weiss Ratings downgraded Quince Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, May 1st. Zacks Research raised Quince Therapeutics to a “hold” rating in a research report on Wednesday. Finally, Wall Street Zen upgraded Quince Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $34.50.

Read Our Latest Research Report on QNCX

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Superstring Capital Management LP bought a new stake in shares of Quince Therapeutics in the 4th quarter worth about $2,877,000. Quadrature Capital Ltd bought a new position in shares of Quince Therapeutics during the fourth quarter worth about $268,000. 683 Capital Management LLC bought a new position in shares of Quince Therapeutics during the fourth quarter worth about $798,000. Almitas Capital LLC grew its stake in Quince Therapeutics by 88.0% in the fourth quarter. Almitas Capital LLC now owns 930,134 shares of the company’s stock worth $3,116,000 after purchasing an additional 435,356 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. bought a new stake in Quince Therapeutics in the fourth quarter valued at about $7,538,000. 30.75% of the stock is currently owned by institutional investors.

About Quince Therapeutics

(Get Free Report)

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. Its AIDE technology platform, a drug/device combination platform that uses an automated process to encapsulate a drug into a patient's own red blood cells, as well as consists of an automated equipment the RCL, a sterile single-use consumable treatment kit comprising EryKit, Syringe Kit, drugs, and process solutions.

Further Reading

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