Q32 Bio (NASDAQ:QTTB) Upgraded to Strong-Buy at Mizuho

Q32 Bio (NASDAQ:QTTB) was upgraded by stock analysts at Mizuho to a “strong-buy” rating in a note issued to investors on Monday, Zacks reports.

Several other brokerages also recently commented on QTTB. Cantor Fitzgerald assumed coverage on shares of Q32 Bio in a report on Monday, May 18th. They set an “overweight” rating for the company. Morgan Stanley initiated coverage on shares of Q32 Bio in a research report on Monday, August 24th. They set an “overweight” rating and a $34.00 price objective for the company. Weiss Ratings upgraded Q32 Bio from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 21st. HC Wainwright upped their target price on Q32 Bio from $13.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Finally, Zacks Research lowered Q32 Bio from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $31.00.

Q32 Bio Price Performance

Shares of Q32 Bio stock opened at $11.69 on Monday. The business has a fifty day simple moving average of $14.97 and a two-hundred day simple moving average of $10.20. Q32 Bio has a 1 year low of $1.69 and a 1 year high of $23.57. The company has a market capitalization of $348.00 million, a price-to-earnings ratio of 3.90 and a beta of 0.21.

Q32 Bio (NASDAQ:QTTB) last released its quarterly earnings data 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, equities analysts anticipate that Q32 Bio will post -1.51 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Lee Kalowski sold 3,972 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $16.56, for a total transaction of $65,776.32. Following the sale, the chief financial officer owned 138,471 shares of the company’s stock, valued at $2,293,079.76. This represents a 2.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Shelia Violette sold 2,798 shares of the firm’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $16.56, for a total value of $46,334.88. Following the transaction, the insider owned 127,771 shares in the company, valued at approximately $2,115,887.76. This trade represents a 2.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 16,615 shares of company stock worth $275,144. Corporate insiders own 34.46% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Atlas Venture Life Science Advisors LLC lifted its position in 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 4th quarter valued at about $708,000. Renaissance Technologies LLC raised its position in shares of Q32 Bio by 107.7% in the 1st 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 in the last quarter. BlackRock Inc. acquired a new position in shares of Q32 Bio in the 2nd quarter valued at approximately $1,510,000. Finally, Geode Capital Management LLC boosted its position in shares of Q32 Bio by 19.9% during the 4th quarter. Geode Capital Management LLC now owns 106,113 shares of the company’s stock worth $352,000 after acquiring an additional 17,617 shares in the last quarter. Institutional investors and hedge funds own 31.32% of the company’s stock.

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.