Quince Therapeutics (NASDAQ:QNCX) Coverage Initiated by Analysts at Oppenheimer

Investment analysts at Oppenheimer initiated coverage on shares of Quince Therapeutics (NASDAQ:QNCX) in a report issued on Monday,Benzinga reports. The firm set an “outperform” rating and a $10.00 price target on the stock.

Several other brokerages have also recently weighed in on QNCX. D. Boral Capital reiterated a “buy” rating and issued a $12.00 target price on shares of Quince Therapeutics in a report on Wednesday, February 5th. Brookline Capital Management started coverage on shares of Quince Therapeutics in a research note on Wednesday, December 18th. They issued a “buy” rating and a $9.00 price objective for the company. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $9.60.

Quince Therapeutics Stock Performance

Quince Therapeutics stock opened at $1.38 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 9.53 and a current ratio of 9.53. The company has a market capitalization of $60.72 million, a PE ratio of -1.11 and a beta of 0.71. The company has a 50 day moving average price of $1.50 and a 200-day moving average price of $1.43. Quince Therapeutics has a fifty-two week low of $0.51 and a fifty-two week high of $2.45.

Institutional Investors Weigh In On Quince Therapeutics

A number of hedge funds have recently made changes to their positions in QNCX. Shay Capital LLC raised its holdings in Quince Therapeutics by 60.8% in the fourth quarter. Shay Capital LLC now owns 276,799 shares of the company’s stock worth $518,000 after purchasing an additional 104,616 shares in the last quarter. Scharf Investments LLC purchased a new position in shares of Quince Therapeutics in the 4th quarter worth approximately $170,000. Geode Capital Management LLC raised its stake in shares of Quince Therapeutics by 24.2% during the 3rd quarter. Geode Capital Management LLC now owns 339,125 shares of the company’s stock worth $263,000 after acquiring an additional 66,170 shares in the last quarter. Two Sigma Investments LP purchased a new stake in Quince Therapeutics during the fourth quarter valued at approximately $57,000. Finally, Virtu Financial LLC purchased a new stake in Quince Therapeutics during the fourth quarter valued at approximately $55,000. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

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.