JMP Securities Has Lowered Expectations for Quince Therapeutics (NASDAQ:QNCX) Stock Price

Quince Therapeutics (NASDAQ:QNCX) had its price target lowered by JMP Securities from $9.00 to $8.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has a market outperform rating on the stock.

Several other research analysts have also recently commented on QNCX. Citigroup initiated coverage on shares of Quince Therapeutics in a report on Tuesday, August 5th. They set an “outperform” rating for the company. D. Boral Capital restated a “buy” rating and set a $4.00 target price on shares of Quince Therapeutics in a report on Thursday, July 17th. Wall Street Zen cut shares of Quince Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Finally, Citizens Jmp initiated coverage on shares of Quince Therapeutics in a report on Tuesday, August 5th. They set a “strong-buy” rating and a $9.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Quince Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $8.14.

Quince Therapeutics Trading Up 14.4%

QNCX opened at $1.83 on Tuesday. The stock has a market capitalization of $98.12 million, a P/E ratio of -1.68 and a beta of 1.02. The company has a current ratio of 4.05, a quick ratio of 4.05 and a debt-to-equity ratio of 0.82. Quince Therapeutics has a 12 month low of $0.51 and a 12 month high of $2.45. The firm’s fifty day simple moving average is $1.58 and its 200 day simple moving average is $1.36.

Quince Therapeutics (NASDAQ:QNCX) last released its earnings results 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). As a group, research analysts anticipate that Quince Therapeutics will post -1.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Quince Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of QNCX. Geode Capital Management LLC raised its holdings in shares of Quince Therapeutics by 10.9% in the 4th quarter. Geode Capital Management LLC now owns 375,932 shares of the company’s stock valued at $703,000 after purchasing an additional 36,807 shares during the period. Northern Trust Corp raised its holdings in shares of 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 purchasing an additional 16,501 shares during the period. Shay Capital LLC raised its holdings in shares of Quince Therapeutics by 60.8% in the 4th quarter. Shay Capital LLC now owns 276,799 shares of the company’s stock valued at $518,000 after purchasing an additional 104,616 shares during the period. Two Sigma Investments LP bought a new stake in shares of Quince Therapeutics in the 4th quarter valued at about $57,000. Finally, Intellectus Partners LLC bought a new stake in shares of Quince Therapeutics in the 1st quarter valued at about $71,000. 30.75% of the stock is owned by institutional investors.

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.