Quince Therapeutics (NASDAQ:QNCX) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen lowered shares of Quince Therapeutics (NASDAQ:QNCX) to a strong sell rating in a report released on Saturday morning.

QNCX has been the subject of a number of other reports. Maxim Group lowered Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. D. Boral Capital lowered Quince Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Citizens Jmp lowered Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a report on Friday, January 30th. Citigroup lowered Quince Therapeutics from a “market outperform” rating to a “market perform” rating in a report on Friday, January 30th. Finally, Lucid Cap Mkts lowered Quince Therapeutics from a “strong-buy” rating to a “strong sell” rating in a report on Friday, January 30th. Five research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Quince Therapeutics presently has a consensus rating of “Reduce” and a consensus target price of $65.00.

Quince Therapeutics Stock Performance

Shares of QNCX opened at $1.27 on Friday. The stock has a 50 day moving average price of $1.42 and a two-hundred day moving average price of $16.55. The firm has a market capitalization of $20.70 million, a P/E ratio of -0.08 and a beta of 1.33. Quince Therapeutics has a 52 week low of $0.80 and a 52 week high of $45.50.

Hedge Funds Weigh In On Quince Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Nantahala Capital Management LLC boosted its stake in shares of Quince Therapeutics by 21.6% in the 3rd quarter. Nantahala Capital Management LLC now owns 3,073,729 shares of the company’s stock worth $5,010,000 after buying an additional 545,427 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in shares of Quince Therapeutics in the 4th quarter worth approximately $7,538,000. Vanguard Group Inc. boosted its stake in shares of Quince Therapeutics by 21.3% in the 3rd 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 during the last quarter. Millennium Management LLC boosted its stake in shares of Quince Therapeutics by 1,152.9% in the 3rd quarter. Millennium Management LLC now owns 1,386,776 shares of the company’s stock worth $2,260,000 after buying an additional 1,276,094 shares during the last quarter. Finally, Almitas Capital LLC boosted its stake in shares of Quince Therapeutics by 88.0% in the 4th quarter. Almitas Capital LLC now owns 930,134 shares of the company’s stock worth $3,116,000 after buying an additional 435,356 shares during the last quarter. Hedge funds and other institutional investors own 30.75% of the company’s stock.

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. 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.