Q32 Bio (NASDAQ:QTTB) Insider Shelia Violette Sells 2,798 Shares

Q32 Bio Inc. (NASDAQ:QTTB) insider Shelia Violette sold 2,798 shares of Q32 Bio stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $16.56, for a total transaction of $46,334.88. Following the sale, the insider directly owned 127,771 shares of the company’s stock, valued at $2,115,887.76. This represents a 2.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Q32 Bio Price Performance

Shares of Q32 Bio stock traded down $0.03 on Thursday, hitting $16.15. 198,925 shares of the company’s stock traded hands, compared to its average volume of 745,675. The firm’s 50-day moving average price is $14.75 and its two-hundred day moving average price is $9.59. The stock has a market capitalization of $480.77 million, a PE ratio of 5.38 and a beta of 0.23. Q32 Bio Inc. has a one year low of $1.62 and a one year high of $23.57.

Q32 Bio (NASDAQ:QTTB) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.46) by $0.02. On average, analysts forecast that Q32 Bio Inc. will post -1.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Q32 Bio

Several large investors have recently modified their holdings of the business. Atlas Venture Life Science Advisors LLC raised its position in shares of Q32 Bio by 29.9% during the second quarter. Atlas Venture Life Science Advisors LLC now owns 2,717,106 shares of the company’s stock worth $34,616,000 after purchasing an additional 625,000 shares during the period. Opaleye Management Inc. bought a new position in Q32 Bio in the fourth quarter valued at approximately $708,000. BlackRock Inc. acquired a new position in shares of Q32 Bio in the second quarter valued at approximately $1,510,000. Renaissance Technologies LLC boosted its holdings in shares of Q32 Bio by 107.7% in the first quarter. Renaissance Technologies LLC now owns 206,915 shares of the company’s stock valued at $1,328,000 after buying an additional 107,315 shares during the period. Finally, Carlyle Group Inc. bought a new stake in shares of Q32 Bio during the second quarter worth $769,000. 31.32% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on QTTB shares. Morgan Stanley assumed coverage on Q32 Bio in a report on Monday. They set an “overweight” rating and a $34.00 target price on the stock. Weiss Ratings upgraded shares of Q32 Bio from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 21st. Mizuho initiated coverage on shares of Q32 Bio in a research note on Friday, May 22nd. They set an “outperform” rating and a $14.00 price objective on the stock. HC Wainwright boosted their price objective on shares of Q32 Bio from $13.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Finally, Zacks Research downgraded shares of Q32 Bio from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Q32 Bio has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

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.