Insider Buying: Q32 Bio (NASDAQ:QTTB) Director Purchases $15,000,000.00 in Stock

Q32 Bio Inc. (NASDAQ:QTTB) Director Orbimed Advisors Llc acquired 1,875,000 shares of the stock in a transaction on Thursday, May 28th. The shares were purchased at an average cost of $8.00 per share, with a total value of $15,000,000.00. Following the transaction, the director directly owned 3,502,987 shares of the company’s stock, valued at approximately $28,023,896. This trade represents a 115.17% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Q32 Bio Stock Down 3.6%

NASDAQ:QTTB opened at $12.19 on Thursday. The firm’s 50-day moving average price is $6.68 and its 200-day moving average price is $4.86. The company has a market capitalization of $206.74 million, a PE ratio of 4.58 and a beta of 0.27. 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 Inc. has a 1-year low of $1.35 and a 1-year high of $13.19.

Q32 Bio (NASDAQ:QTTB) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.14. On average, equities analysts predict that Q32 Bio Inc. will post -1.96 EPS for the current fiscal year.

Institutional Investors Weigh In On Q32 Bio

A number of institutional investors have recently made changes to their positions in the company. Marshall Wace LLP bought a new stake in Q32 Bio in the 2nd quarter worth about $25,000. Acadian Asset Management LLC bought a new position in Q32 Bio during the 1st quarter valued at about $50,000. Two Sigma Investments LP purchased a new stake in shares of Q32 Bio during the 3rd quarter valued at about $62,000. ADAR1 Capital Management LLC purchased a new stake in shares of Q32 Bio during the 4th quarter valued at about $66,000. Finally, AQR Capital Management LLC bought a new stake in shares of Q32 Bio in the first quarter worth approximately $68,000. Hedge funds and other institutional investors own 31.32% of the company’s stock.

Wall Street Analyst Weigh In

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