Q32 Bio (NASDAQ:QTTB) Stock: Insider Lee Kalowski Sells 1,301 Shares

Q32 Bio Inc. (NASDAQ:QTTB) CFO Lee Kalowski sold 1,301 shares of the stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $8.32, for a total transaction of $10,824.32. Following the completion of the sale, the chief financial officer directly owned 137,170 shares of the company’s stock, valued at $1,141,254.40. This represents a 0.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Lee Kalowski also recently made the following trade(s):

• On Tuesday, August 25th, Lee Kalowski sold 3,972 shares of Q32 Bio stock. The stock was sold at an average price of $16.56, for a total transaction of $65,776.32.

Q32 Bio Price Performance

Shares of NASDAQ:QTTB opened at $7.77 on Friday. Q32 Bio Inc. has a 1-year low of $1.90 and a 1-year high of $23.57. The company has a market capitalization of $231.31 million, a P/E ratio of 3.87 and a beta of 0.31. The firm’s 50 day simple moving average is $11.92 and its two-hundred day simple moving average is $10.89.

Q32 Bio (NASDAQ:QTTB) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.44) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.02. On average, sell-side analysts anticipate that Q32 Bio Inc. will post -1.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on QTTB. Oppenheimer restated an “outperform” rating on shares of Q32 Bio in a research note on Thursday, October 1st. Leerink Partners assumed coverage on Q32 Bio in a research note on Monday. They issued an “outperform” rating and a $40.00 price target for the company. Weiss Ratings raised Q32 Bio from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 21st. Mizuho raised Q32 Bio to a “strong-buy” rating in a report on Monday, September 7th. Finally, Morgan Stanley initiated coverage on Q32 Bio in a research report on Monday, August 24th. They issued an “overweight” rating and a $34.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.17.

Institutional Investors Weigh In On Q32 Bio

Institutional investors have recently added to or reduced their stakes in the stock. Cetera Investment Advisers purchased a new stake in Q32 Bio during the 1st quarter valued at approximately $133,000. Susquehanna International Group LLP purchased a new position in shares of Q32 Bio in the second quarter worth $297,000. Squarepoint Ops LLC bought a new position in shares of Q32 Bio during the second quarter worth $303,000. ADAR1 Capital Management LLC boosted its position 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 last quarter. Finally, Carlyle Group Inc. purchased a new position in Q32 Bio during the second quarter valued at $769,000. 31.32% of the stock is owned by hedge funds and other institutional investors.

About Q32 Bio

Q32 Bio is a clinical-stage biotechnology company focused on developing therapies designed to restore immune homeostasis and address diseases driven by immune dysregulation. The company’s approach targets pathways involved in the transforming growth factor beta superfamily, which plays a role in regulating inflammation, tissue repair and immune responses.

Q32 Bio’s lead product candidate is bempikibart, also known as ADX-914, a fully human monoclonal antibody designed to modulate immune activity through selective targeting of the activin receptor type IIA pathway.