Insider Buying: Q32 Bio (NASDAQ:QTTB) Director Purchases 1,875,000 Shares of Stock

Q32 Bio Inc. (NASDAQ:QTTB) Director Diyong Xu acquired 1,875,000 shares of the stock in a transaction dated Thursday, May 28th. The stock was bought at an average cost of $8.00 per share, with a total value of $15,000,000.00. Following the completion of the purchase, the director directly owned 3,502,987 shares in the company, valued at approximately $28,023,896. The trade was a 115.17% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Q32 Bio Trading Up 5.5%

Shares of NASDAQ:QTTB traded up $0.61 during trading on Monday, hitting $11.66. The company had a trading volume of 1,071,257 shares, compared to its average volume of 1,395,783. The stock has a market cap of $197.75 million, a price-to-earnings ratio of 4.38 and a beta of 0.26. Q32 Bio Inc. has a one year low of $1.35 and a one year high of $13.15. The company has a fifty day simple moving average of $6.45 and a two-hundred day simple moving average of $4.72. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.36 and a quick ratio of 5.36.

Q32 Bio (NASDAQ:QTTB) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.14. As a group, equities analysts forecast that Q32 Bio Inc. will post -1.96 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. HRT Financial LP increased its holdings in shares of Q32 Bio by 66.5% in the 4th quarter. HRT Financial LP now owns 24,698 shares of the company’s stock valued at $81,000 after acquiring an additional 9,862 shares during the period. ADAR1 Capital Management LLC increased its holdings in shares of Q32 Bio by 75.0% in the 1st quarter. ADAR1 Capital Management LLC now owns 35,000 shares of the company’s stock valued at $225,000 after acquiring an additional 15,000 shares during the period. Marshall Wace LLP purchased a new position in shares of Q32 Bio in the 2nd quarter valued at $25,000. Geode Capital Management LLC increased its holdings in shares of Q32 Bio by 19.9% in the 4th quarter. Geode Capital Management LLC now owns 106,113 shares of the company’s stock valued at $352,000 after acquiring an additional 17,617 shares during the period. Finally, XTX Topco Ltd purchased a new position in shares of Q32 Bio in the 4th quarter valued at $68,000. 31.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on QTTB. HC Wainwright reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Q32 Bio in a research note on Tuesday, May 5th. Zacks Research lowered Q32 Bio from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. Weiss Ratings raised Q32 Bio from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Mizuho initiated coverage on Q32 Bio in a research note on Friday, May 22nd. They set an “outperform” rating and a $14.00 price target for the company. Finally, Cantor Fitzgerald initiated coverage on Q32 Bio in a research note on Monday, May 18th. They set an “overweight” rating for the company. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $13.50.

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.