Q32 Bio Inc. (NASDAQ:QTTB) Receives Consensus Rating of “Moderate Buy” from Brokerages

Q32 Bio Inc. (NASDAQ:QTTB) has been given an average rating of “Moderate Buy” by the six research firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $22.3333.

QTTB has been the subject of several analyst reports. Cantor Fitzgerald assumed coverage on Q32 Bio in a report on Monday, May 18th. They set an “overweight” rating for the company. Weiss Ratings raised Q32 Bio from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Mizuho began coverage on Q32 Bio in a research report on Friday, May 22nd. They issued an “outperform” rating and a $14.00 price objective for the company. Zacks Research lowered Q32 Bio from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. Finally, HC Wainwright reissued a “buy” rating and set a $13.00 price objective on shares of Q32 Bio in a research note on Tuesday, May 5th.

Q32 Bio Stock Performance

Q32 Bio stock opened at $15.21 on Friday. The company has a quick ratio of 5.36, a current ratio of 5.36 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $257.96 million, a PE ratio of 5.72 and a beta of 0.24. The firm has a fifty day simple moving average of $11.21 and a two-hundred day simple moving average of $7.16. Q32 Bio has a twelve month low of $1.57 and a twelve month high of $23.57.

Q32 Bio (NASDAQ:QTTB) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.14. Research analysts expect that Q32 Bio will post -1.87 EPS for the current year.

Insiders Place Their Bets

In other news, Director Diyong Xu purchased 1,875,000 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were acquired at an average price of $8.00 per share, with a total value of $15,000,000.00. Following the acquisition, the director directly owned 3,502,987 shares in the company, valued at approximately $28,023,896. The trade was a 115.17% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Orbimed Advisors Llc acquired 1,875,000 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was purchased at an average price of $8.00 per share, for a total transaction of $15,000,000.00. Following the transaction, the director directly owned 3,502,987 shares of the company’s stock, valued at approximately $28,023,896. This trade represents a 115.17% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 34.46% of the company’s stock.

Hedge Funds Weigh In On Q32 Bio

Several hedge funds and other institutional investors have recently modified their holdings of the company. ADAR1 Capital Management LLC grew its stake in shares of Q32 Bio by 75.0% in the first quarter. ADAR1 Capital Management LLC now owns 35,000 shares of the company’s stock worth $225,000 after purchasing an additional 15,000 shares during the last quarter. Renaissance Technologies LLC raised its position in Q32 Bio by 107.7% during the 1st quarter. Renaissance Technologies LLC now owns 206,915 shares of the company’s stock valued at $1,328,000 after purchasing an additional 107,315 shares during the last quarter. Cetera Investment Advisers bought a new position in Q32 Bio during the 1st quarter valued at approximately $133,000. XTX Topco Ltd purchased a new stake in Q32 Bio in the 4th quarter worth approximately $68,000. Finally, Opaleye Management Inc. purchased a new stake in Q32 Bio in the 4th quarter worth approximately $708,000. 31.32% of the stock is owned by institutional investors.

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.