Equities Analysts Issue Forecasts for Q32 Bio Inc.’s Q2 2024 Earnings (NASDAQ:QTTB)

Q32 Bio Inc. (NASDAQ:QTTB) – Stock analysts at Leerink Partnrs issued their Q2 2024 earnings estimates for Q32 Bio in a research note issued to investors on Tuesday, May 21st. Leerink Partnrs analyst T. Smith forecasts that the company will post earnings of ($0.93) per share for the quarter. Leerink Partnrs currently has a “Strong-Buy” rating on the stock. The consensus estimate for Q32 Bio’s current full-year earnings is ($10.74) per share. Leerink Partnrs also issued estimates for Q32 Bio’s Q3 2024 earnings at ($0.99) EPS, Q4 2024 earnings at ($1.05) EPS, FY2024 earnings at ($10.54) EPS, FY2025 earnings at ($5.18) EPS, FY2026 earnings at ($6.29) EPS, FY2027 earnings at ($9.35) EPS and FY2028 earnings at ($8.36) EPS.

Several other equities analysts also recently commented on QTTB. Oppenheimer initiated coverage on shares of Q32 Bio in a research note on Thursday, April 11th. They issued an “outperform” rating and a $50.00 price target on the stock. SVB Leerink initiated coverage on shares of Q32 Bio in a research note on Tuesday. They issued an “outperform” rating and a $54.00 price target on the stock. Finally, Piper Sandler initiated coverage on shares of Q32 Bio in a research note on Tuesday, April 2nd. They issued an “overweight” rating and a $45.00 price target on the stock.

Q32 Bio Price Performance

NASDAQ:QTTB opened at $26.00 on Thursday. Q32 Bio has a one year low of $8.24 and a one year high of $32.88. The firm has a market capitalization of $310.44 million, a P/E ratio of -0.80 and a beta of -0.26. The company has a fifty day moving average of $25.45. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.19 and a current ratio of 4.19.

Q32 Bio (NASDAQ:QTTB) last issued its earnings results on Tuesday, March 12th. The company reported ($4.32) earnings per share for the quarter.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Ikarian Capital LLC bought a new position in Q32 Bio in the 1st quarter valued at approximately $381,000. ARCH Venture Management LLC bought a new position in Q32 Bio in the 1st quarter valued at approximately $5,461,000. Affinity Asset Advisors LLC bought a new position in Q32 Bio in the 1st quarter valued at approximately $473,000. Platinum Investment Management Ltd. acquired a new stake in Q32 Bio during the 1st quarter valued at approximately $1,874,000. Finally, Acadian Asset Management LLC acquired a new stake in Q32 Bio during the 1st quarter valued at approximately $62,000. Institutional investors own 31.32% of the company’s stock.

About Q32 Bio

Q32 Bio Inc, a clinical-stage biotechnology company, develops biologic therapeutics to restore healthy immune balance in patients with autoimmune and inflammatory diseases driven by pathological immune dysfunction in the United States. Its lead product candidate is ADX-097, a humanized anti-C3d monoclonal antibody fusion protein to restore complement regulation, which has completed Phase I clinical trial for the treatment of renal and other complement-mediated diseases of high unmet need, including lupus nephritis, immunoglobulin A nephropathy, complement component 3 glomerulopathy, and anti-neutrophil cytoplasmic antibody-associated vasculitis.