Short Interest in Q32 Bio Inc. (NASDAQ:QTTB) Rises By 234.3%

Q32 Bio Inc. (NASDAQ:QTTB) was the target of a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 2,263,602 shares, a growth of 234.3% from the June 30th total of 677,047 shares. Based on an average trading volume of 4,102,102 shares, the short-interest ratio is currently 0.6 days. Approximately 20.4% of the company’s shares are sold short.

Insider Buying and Selling

In related news, Director Orbimed Advisors Llc purchased 1,875,000 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was purchased at an average price of $8.00 per share, with a total value of $15,000,000.00. Following the completion of the transaction, the director 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. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Diyong Xu bought 1,875,000 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were acquired at an average cost of $8.00 per share, with a total value of $15,000,000.00. Following the transaction, the director owned 3,502,987 shares in the company, valued at approximately $28,023,896. This represents a 115.17% increase in their position. The SEC filing for this purchase provides additional information. 34.46% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC bought a new stake in Q32 Bio in the first quarter valued at about $68,000. Goldman Sachs Group Inc. boosted its holdings in shares of Q32 Bio by 140.9% in the first quarter. Goldman Sachs Group Inc. now owns 44,373 shares of the company’s stock valued at $73,000 after buying an additional 25,953 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Q32 Bio during the first quarter worth $50,000. Marshall Wace LLP acquired a new stake in shares of Q32 Bio during the second quarter worth $25,000. Finally, Jane Street Group LLC bought a new stake in Q32 Bio in the 2nd quarter valued at $69,000. 31.32% of the stock is currently owned by institutional investors and hedge funds.

Q32 Bio Stock Performance

QTTB traded up $0.34 during trading on Tuesday, reaching $15.55. 276,178 shares of the company’s stock were exchanged, compared to its average volume of 790,587. The company has a market capitalization of $263.60 million, a P/E ratio of 5.87 and a beta of 0.24. 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 business has a 50 day moving average price of $12.52 and a 200 day moving average price of $7.74. Q32 Bio has a fifty-two week low of $1.57 and a fifty-two week high of $23.57.

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

Analysts Set New Price Targets

Several research analysts have commented on the stock. Mizuho started coverage on shares of Q32 Bio in a research report on Friday, May 22nd. They issued an “outperform” rating and a $14.00 target price for the company. Zacks Research cut shares of Q32 Bio from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Oppenheimer upped their price objective on shares of Q32 Bio from $20.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. HC Wainwright raised their price target on Q32 Bio from $13.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Weiss Ratings upgraded Q32 Bio from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $30.00.

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.