Insider Selling: Q32 Bio (NASDAQ:QTTB) CFO Sells $10,824.32 in Stock

Q32 Bio Inc. (NASDAQ:QTTB) CFO Lee Kalowski sold 1,301 shares of the business’s stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $8.32, for a total transaction of $10,824.32. Following the completion of the sale, the chief financial officer directly owned 137,170 shares of the company’s stock, valued at $1,141,254.40. This represents a 0.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Lee Kalowski also recently made the following trade(s):

• On Tuesday, August 25th, Lee Kalowski sold 3,972 shares of Q32 Bio stock. The shares were sold at an average price of $16.56, for a total transaction of $65,776.32.

Q32 Bio Trading Down 3.2%

Shares of NASDAQ:QTTB traded down $0.25 on Friday, reaching $7.52. 677,995 shares of the company traded hands, compared to its average volume of 1,166,853. The business’s 50-day simple moving average is $11.75 and its 200 day simple moving average is $10.86. Q32 Bio Inc. has a 52 week low of $1.90 and a 52 week high of $23.57. The stock has a market capitalization of $223.87 million, a P/E ratio of 2.51 and a beta of 0.31.

Q32 Bio (NASDAQ:QTTB) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.02. Sell-side analysts expect that Q32 Bio Inc. will post -1.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on QTTB. Leerink Partners assumed coverage on Q32 Bio in a research note on Monday, October 12th. They issued an “outperform” rating and a $40.00 price target on the stock. Mizuho raised Q32 Bio to a “strong-buy” rating in a research note on Monday, September 7th. Morgan Stanley initiated coverage on shares of Q32 Bio in a report on Monday, August 24th. They issued 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 report on Friday, August 21st. Finally, HC Wainwright lifted their target price on shares of Q32 Bio from $13.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.17.

Institutional Trading of Q32 Bio

A number of institutional investors have recently modified their holdings of QTTB. Cetera Investment Advisers bought a new stake in shares of Q32 Bio in the first quarter worth about $133,000. ADAR1 Capital Management LLC increased its holdings in 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 period. Susquehanna International Group LLP purchased a new position in Q32 Bio during the 2nd quarter valued at about $297,000. Squarepoint Ops LLC purchased a new position in Q32 Bio during the 2nd quarter valued at about $303,000. Finally, Carlyle Group Inc. bought a new position in Q32 Bio during the 2nd quarter valued at approximately $769,000. 31.32% of the stock is currently owned by hedge funds and other institutional investors.

Q32 Bio Company Profile

Q32 Bio is a clinical-stage biotechnology company focused on developing therapies designed to restore immune homeostasis and address diseases driven by immune dysregulation. The company’s approach targets pathways involved in the transforming growth factor beta superfamily, which plays a role in regulating inflammation, tissue repair and immune responses.

Q32 Bio’s lead product candidate is bempikibart, also known as ADX-914, a fully human monoclonal antibody designed to modulate immune activity through selective targeting of the activin receptor type IIA pathway.