ArrowMark Colorado Holdings LLC Takes $280,000 Position in Q32 Bio Inc. (NASDAQ:QTTB)

ArrowMark Colorado Holdings LLC bought a new position in Q32 Bio Inc. (NASDAQ:QTTB) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 81,482 shares of the company’s stock, valued at approximately $280,000. ArrowMark Colorado Holdings LLC owned approximately 0.67% of Q32 Bio as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in QTTB. Acorn Capital Advisors LLC bought a new stake in Q32 Bio during the fourth quarter worth about $2,764,000. Mariner LLC purchased a new position in shares of Q32 Bio in the fourth quarter worth $418,000. Townsquare Capital LLC bought a new stake in Q32 Bio during the 4th quarter valued at $60,000. Raymond James Financial Inc. purchased a new stake in Q32 Bio during the 4th quarter valued at $37,000. Finally, AXQ Capital LP bought a new stake in Q32 Bio in the 4th quarter worth $36,000. Institutional investors own 31.32% of the company’s stock.

Q32 Bio Price Performance

QTTB stock opened at $1.64 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 6.53 and a current ratio of 6.53. The firm has a 50 day moving average price of $1.90 and a 200-day moving average price of $11.98. Q32 Bio Inc. has a 52-week low of $1.38 and a 52-week high of $53.79. The firm has a market capitalization of $20.00 million, a price-to-earnings ratio of -0.12 and a beta of -0.17.

Q32 Bio (NASDAQ:QTTB) last issued its quarterly earnings results on Tuesday, March 11th. The company reported ($1.16) earnings per share for the quarter, beating the consensus estimate of ($1.25) by $0.09. Equities research analysts forecast that Q32 Bio Inc. will post -12.32 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on QTTB shares. Wells Fargo & Company dropped their price objective on Q32 Bio from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Wednesday, March 12th. Piper Sandler downgraded Q32 Bio from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $20.00 to $4.00 in a report on Tuesday, February 11th. Finally, BMO Capital Markets cut Q32 Bio from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $22.00 to $3.00 in a research note on Tuesday, February 11th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $24.71.

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.