Q32 Bio Inc. (NASDAQ:QTTB) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Q32 Bio Inc. (NASDAQ:QTTB) have received a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $31.00.

QTTB has been the topic of several recent analyst reports. Oppenheimer raised their price target on shares of Q32 Bio from $20.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Weiss Ratings upgraded Q32 Bio from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 21st. Zacks Research downgraded shares of Q32 Bio from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. HC Wainwright boosted their price target 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, Mizuho initiated coverage on shares of Q32 Bio in a report on Friday, May 22nd. They set an “outperform” rating and a $14.00 price objective on the stock.

Insider Buying and Selling at Q32 Bio

In other Q32 Bio news, CEO Jodie Morrison sold 9,845 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $16.56, for a total transaction of $163,033.20. Following the completion of the sale, the chief executive officer directly owned 343,259 shares of the company’s stock, valued at approximately $5,684,369.04. This represents a 2.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Shelia M. Violette sold 2,798 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $16.56, for a total transaction of $46,334.88. Following the completion of the sale, the insider owned 127,771 shares in the company, valued at $2,115,887.76. This represents a 2.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 16,615 shares of company stock worth $275,144 over the last quarter. Insiders own 34.46% of the company’s stock.

Institutional Investors Weigh In On Q32 Bio

Hedge funds and other institutional investors have recently bought and sold shares of the company. HRT Financial LP increased its position in shares of Q32 Bio by 66.5% during the fourth quarter. HRT Financial LP now owns 24,698 shares of the company’s stock worth $81,000 after purchasing an additional 9,862 shares in the last quarter. ADAR1 Capital Management LLC lifted its holdings in shares of Q32 Bio by 75.0% during the 1st quarter. ADAR1 Capital Management LLC now owns 35,000 shares of the company’s stock valued at $225,000 after purchasing an additional 15,000 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Q32 Bio in the 2nd quarter worth $25,000. Geode Capital Management LLC boosted its position 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 worth $352,000 after purchasing an additional 17,617 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in Q32 Bio during the 4th quarter worth $68,000. Hedge funds and other institutional investors own 31.32% of the company’s stock.

Q32 Bio Price Performance

Shares of QTTB opened at $11.99 on Monday. Q32 Bio has a 52-week low of $1.63 and a 52-week high of $23.57. The business has a fifty day moving average of $15.04 and a 200 day moving average of $10.09. The company has a market cap of $356.94 million, a PE ratio of 4.00 and a beta of 0.21.

Q32 Bio (NASDAQ:QTTB) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.46) by $0.02. As a group, research analysts anticipate that Q32 Bio will post -1.51 earnings per share for the current fiscal 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.