Q32 Bio Inc. (NASDAQ:QTTB) Short Interest Update

Q32 Bio Inc. (NASDAQ:QTTB) was the target of a significant drop in short interest during the month of December. As of December 31st, there was short interest totaling 282,006 shares, a drop of 34.2% from the December 15th total of 428,900 shares. Based on an average daily volume of 166,051 shares, the days-to-cover ratio is presently 1.7 days. Currently, 3.8% of the shares of the stock are sold short. Currently, 3.8% of the shares of the stock are sold short. Based on an average daily volume of 166,051 shares, the days-to-cover ratio is presently 1.7 days.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on QTTB. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Q32 Bio in a research note on Friday, January 9th. Wall Street Zen upgraded Q32 Bio from a “sell” rating to a “hold” rating in a report on Sunday, October 26th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $7.33.

Q32 Bio Stock Performance

Shares of QTTB stock remained flat at $3.60 on Friday. The company had a trading volume of 104,964 shares, compared to its average volume of 139,805. The business has a 50 day moving average of $2.97 and a two-hundred day moving average of $2.46. Q32 Bio has a 52-week low of $1.35 and a 52-week high of $6.37.

Q32 Bio (NASDAQ:QTTB) last released its earnings results on Thursday, November 13th. The company reported ($0.60) earnings per share for the quarter, topping the consensus estimate of ($1.39) by $0.79. As a group, sell-side analysts forecast that Q32 Bio will post -12.32 EPS for the current year.

Insider Buying and Selling at Q32 Bio

In related news, CFO Lee Kalowski sold 9,072 shares of the stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $3.46, for a total value of $31,389.12. Following the completion of the transaction, the chief financial officer owned 39,938 shares of the company’s stock, valued at approximately $138,185.48. This trade represents a 18.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jodie Pope Morrison sold 22,506 shares of Q32 Bio stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $3.46, for a total value of $77,870.76. Following the completion of the transaction, the chief executive officer owned 99,000 shares of the company’s stock, valued at approximately $342,540. This represents a 18.52% decrease in their position. The disclosure for this sale is available in the SEC filing. 40.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Q32 Bio

Several hedge funds have recently made changes to their positions in QTTB. Two Sigma Investments LP purchased a new position in shares of Q32 Bio during the third quarter valued at $62,000. Jane Street Group LLC bought a new position in Q32 Bio during the 2nd quarter worth about $69,000. Marshall Wace LLP bought a new position in Q32 Bio during the 2nd quarter worth about $25,000. Monaco Asset Management SAM increased its position in Q32 Bio by 17.1% during the 2nd quarter. Monaco Asset Management SAM now owns 591,937 shares of the company’s stock valued at $882,000 after purchasing an additional 86,486 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Q32 Bio by 140.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 44,373 shares of the company’s stock valued at $73,000 after purchasing an additional 25,953 shares in the last quarter. 31.32% of the stock is currently owned by hedge funds and other institutional investors.

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.