Q32 Bio (NASDAQ:QTTB) Issues Earnings Results

Q32 Bio (NASDAQ:QTTB) announced its quarterly earnings results on Thursday. The company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.39) by $0.79, FiscalAI reports.

Q32 Bio Stock Down 2.3%

Q32 Bio stock opened at $2.16 on Friday. The stock’s 50 day moving average is $2.45 and its 200 day moving average is $2.03. Q32 Bio has a twelve month low of $1.35 and a twelve month high of $35.61. The company has a market capitalization of $26.35 million, a P/E ratio of -0.63 and a beta of 0.15.

Hedge Funds Weigh In On Q32 Bio

A number of hedge funds have recently bought and sold shares of QTTB. Marshall Wace LLP bought a new position in shares of Q32 Bio in the 2nd quarter worth approximately $25,000. Acadian Asset Management LLC bought a new stake in Q32 Bio in the first quarter worth $50,000. Two Sigma Investments LP bought a new stake in shares of Q32 Bio in the 3rd quarter valued at approximately $62,000. AQR Capital Management LLC bought a new stake in shares of Q32 Bio in the 1st quarter worth about $68,000. Finally, Jane Street Group LLC purchased a new position in Q32 Bio during the 2nd quarter valued at $69,000. Hedge funds and other institutional investors own 31.32% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on QTTB shares. Wall Street Zen raised Q32 Bio from a “sell” rating to a “hold” rating in a report on Sunday, October 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Q32 Bio in a research note on Tuesday, October 14th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $12.17.

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.