Analysts Set Q32 Bio Inc. (NASDAQ:QTTB) Price Target at $24.71

Shares of Q32 Bio Inc. (NASDAQ:QTTB) have received a consensus rating of “Hold” from the eight analysts that are presently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $24.71.

Several research firms recently weighed in on QTTB. Wells Fargo & Company dropped their price target on Q32 Bio from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 12th. BMO Capital Markets lowered Q32 Bio from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $22.00 to $3.00 in a research report on Tuesday, February 11th. Finally, Piper Sandler lowered Q32 Bio from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $20.00 to $4.00 in a research report on Tuesday, February 11th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio acquired a new position in Q32 Bio in the 4th quarter worth about $26,000. Hussman Strategic Advisors Inc. acquired a new position in Q32 Bio in the 4th quarter worth about $36,000. AXQ Capital LP acquired a new position in Q32 Bio in the 4th quarter worth about $36,000. Raymond James Financial Inc. acquired a new position in Q32 Bio in the 4th quarter worth about $37,000. Finally, Drive Wealth Management LLC acquired a new position in Q32 Bio in the 4th quarter worth about $38,000. 31.32% of the stock is owned by institutional investors and hedge funds.

Q32 Bio Trading Down 1.8%

Shares of NASDAQ QTTB opened at $1.62 on Monday. The company has a market cap of $19.76 million, a price-to-earnings ratio of -0.11 and a beta of -0.02. Q32 Bio has a 12 month low of $1.38 and a 12 month high of $53.79. The company has a quick ratio of 6.53, a current ratio of 6.53 and a debt-to-equity ratio of 0.61. The business has a fifty day simple moving average of $1.76 and a 200-day simple moving average of $7.44.

Q32 Bio (NASDAQ:QTTB) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.90) earnings per share for the quarter, beating the consensus estimate of ($1.23) by $0.33. Sell-side analysts predict that Q32 Bio will post -12.32 EPS for the current year.

Q32 Bio Company Profile

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.