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

Quince Therapeutics, Inc. (NASDAQ:QNCXFree Report)’s stock is going to reverse split 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 Trading Down 3.3%

NASDAQ QNCX traded down $0.03 during trading on Friday, hitting $0.94. The company had a trading volume of 321,432 shares, compared to its average volume of 5,849,831. The company’s fifty day moving average is $1.13 and its 200-day moving average is $10.01. Quince Therapeutics has a one year low of $0.79 and a one year high of $45.50. The company has a market cap of $15.38 million, a price-to-earnings ratio of -0.09 and a beta of 1.40.

Quince Therapeutics (NASDAQ:QNCXGet Free Report) last posted its earnings results on Monday, May 11th. The company reported ($0.59) EPS for the quarter, topping the consensus estimate of ($1.30) by $0.71. As a group, equities analysts anticipate that Quince Therapeutics will post -0.43 EPS for the current year.

Wall Street Analyst Weigh In

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

Get Our Latest Analysis on Quince Therapeutics

Institutional Investors Weigh In On Quince Therapeutics

A number of institutional investors have recently modified their holdings of the stock. XTX Topco Ltd purchased a new position in shares of Quince Therapeutics in the 2nd quarter worth about $37,000. Nantahala Capital Management LLC bought a new stake in Quince Therapeutics during the 2nd quarter valued at about $4,172,000. Bridgeway Capital Management LLC raised its holdings in Quince Therapeutics by 20.9% in the second quarter. Bridgeway Capital Management LLC now owns 128,617 shares of the company’s stock worth $212,000 after buying an additional 22,200 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Quince Therapeutics by 21.3% in the third quarter. Vanguard Group Inc. now owns 1,763,387 shares of the company’s stock worth $2,874,000 after buying an additional 309,349 shares in the last quarter. Finally, GSA Capital Partners LLP grew its holdings in shares of Quince Therapeutics by 158.0% during the third quarter. GSA Capital Partners LLP now owns 87,235 shares of the company’s stock valued at $142,000 after buying an additional 53,417 shares during the last quarter. 30.75% of the stock is owned by hedge funds and other institutional investors.

Quince Therapeutics Company Profile

(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.

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