Brokerages Set Q32 Bio Inc. (NASDAQ:QTTB) PT at $12.17

Shares of Q32 Bio Inc. (NASDAQ:QTTB) have been given an average rating of “Hold” by the nine brokerages that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $12.1667.

A number of equities analysts have recently weighed in on QTTB shares. Wall Street Zen raised shares of Q32 Bio from a “sell” rating to a “hold” rating in a research note on Sunday, October 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Q32 Bio in a research note on Tuesday, October 14th.

Q32 Bio Stock Up 1.8%

QTTB opened at $2.81 on Friday. The stock has a fifty day moving average of $2.32 and a 200-day moving average of $2.00. The firm has a market capitalization of $34.28 million, a P/E ratio of -0.65 and a beta of 0.15. Q32 Bio has a 12-month low of $1.35 and a 12-month high of $51.26.

Q32 Bio (NASDAQ:QTTB) last released its earnings results on Wednesday, August 6th. The company reported ($0.78) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.14) by $0.36. On average, analysts expect that Q32 Bio will post -12.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Q32 Bio

A number of hedge funds have recently modified their holdings of QTTB. Nuveen LLC acquired a new position in shares of Q32 Bio in the first quarter worth $92,000. AQR Capital Management LLC acquired a new position in shares of Q32 Bio in the first quarter worth $68,000. Goldman Sachs Group Inc. increased its position in Q32 Bio by 140.9% during the first quarter. Goldman Sachs Group Inc. now owns 44,373 shares of the company’s stock worth $73,000 after buying an additional 25,953 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Q32 Bio during the first quarter worth $50,000. Finally, Monaco Asset Management SAM increased its position in Q32 Bio by 17.1% during the second quarter. Monaco Asset Management SAM now owns 591,937 shares of the company’s stock worth $882,000 after buying an additional 86,486 shares during the last quarter. 31.32% of the stock is owned by institutional investors and hedge funds.

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.