Jodie Pope Morrison Sells 22,506 Shares of Q32 Bio (NASDAQ:QTTB) Stock

Q32 Bio Inc. (NASDAQ:QTTB) CEO Jodie Pope Morrison sold 22,506 shares of the company’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $3.46, for a total transaction of $77,870.76. Following the completion of the transaction, the chief executive officer directly owned 99,000 shares of the company’s stock, valued at $342,540. This represents a 18.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Q32 Bio Stock Performance

Shares of QTTB traded up $0.05 during mid-day trading on Thursday, hitting $3.62. 892,817 shares of the stock were exchanged, compared to its average volume of 1,268,199. The firm has a 50-day moving average of $2.61 and a two-hundred day moving average of $2.11. Q32 Bio Inc. has a 52-week low of $1.35 and a 52-week high of $28.06. The company has a market cap of $44.54 million, a PE ratio of -1.05 and a beta of 0.23.

Q32 Bio (NASDAQ:QTTB) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($1.39) by $0.79. On average, sell-side analysts predict that Q32 Bio Inc. will post -12.32 EPS for the current year.

Analysts Set New Price Targets

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

Institutional Trading of Q32 Bio

Several hedge funds have recently added to or reduced their stakes in QTTB. Monaco Asset Management SAM grew its position in shares of Q32 Bio by 17.1% in the 2nd quarter. Monaco Asset Management SAM now owns 591,937 shares of the company’s stock valued at $882,000 after buying an additional 86,486 shares during the last quarter. Nuveen LLC acquired a new stake in Q32 Bio during the 1st quarter worth approximately $92,000. Jane Street Group LLC acquired a new stake in shares of Q32 Bio during the second quarter worth $69,000. AQR Capital Management LLC purchased a new stake in shares of Q32 Bio in the first quarter valued at about $68,000. Finally, Two Sigma Investments LP purchased a new stake in Q32 Bio in the 3rd quarter valued at approximately $62,000. Institutional investors and hedge funds own 31.32% of the company’s stock.

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.