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

Q32 Bio Inc. (NASDAQ:QTTB) has been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $30.00.

A number of brokerages have commented on QTTB. Cantor Fitzgerald began coverage on shares of Q32 Bio in a report on Monday, May 18th. They set an “overweight” rating on the stock. Zacks Research lowered shares of Q32 Bio from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Oppenheimer raised their price target on shares of Q32 Bio from $20.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Mizuho began coverage on shares of Q32 Bio in a research report on Friday, May 22nd. They issued an “outperform” rating and a $14.00 price objective for the company. Finally, Weiss Ratings upgraded Q32 Bio from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 11th.

Insider Activity at Q32 Bio

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

Hedge Funds Weigh In On Q32 Bio

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

Q32 Bio Price Performance

Shares of QTTB stock opened at $16.49 on Thursday. The stock’s fifty day moving average is $13.73 and its 200-day moving average is $8.34. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.36 and a current ratio of 5.36. The stock has a market capitalization of $279.67 million, a PE ratio of 6.20 and a beta of 0.23. Q32 Bio has a 52 week low of $1.57 and a 52 week high of $23.57.

Q32 Bio (NASDAQ:QTTB) last announced its earnings results on Wednesday, August 5th. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.01). Equities research analysts expect that Q32 Bio will post -1.87 EPS for the current fiscal year.

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.