Q32 Bio (NASDAQ:QTTB) Downgraded by Zacks Research to Hold

Zacks Research cut shares of Q32 Bio (NASDAQ:QTTB) from a strong-buy rating to a hold rating in a research report sent to investors on Monday,Zacks.com reports.

A number of other equities analysts have also commented on QTTB. Cantor Fitzgerald began coverage on shares of Q32 Bio in a research report on Monday. They issued an “overweight” rating for the company. HC Wainwright reaffirmed a “buy” rating and issued a $13.00 target price on shares of Q32 Bio in a research note on Tuesday, May 5th. Finally, Weiss Ratings raised shares of Q32 Bio from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Q32 Bio has a consensus rating of “Moderate Buy” and an average target price of $13.00.

Q32 Bio Price Performance

Shares of NASDAQ:QTTB opened at $6.07 on Monday. The stock’s fifty day simple moving average is $6.07 and its two-hundred day simple moving average is $4.35. The stock has a market cap of $102.95 million, a PE ratio of 2.28 and a beta of -0.05. The company has a current ratio of 5.36, a quick ratio of 5.36 and a debt-to-equity ratio of 0.04. Q32 Bio has a 1-year low of $1.35 and a 1-year high of $8.05.

Q32 Bio (NASDAQ:QTTB) last announced its earnings results on Tuesday, May 5th. The company reported ($0.54) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.14. As a group, analysts forecast that Q32 Bio will post -2.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other Q32 Bio news, CEO Jodie Pope Morrison sold 9,896 shares of the business’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $4.51, for a total value of $44,630.96. Following the completion of the transaction, the chief executive officer owned 89,104 shares of the company’s stock, valued at approximately $401,859.04. The trade was a 10.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 16,706 shares of company stock valued at $75,344. 40.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Q32 Bio

Several hedge funds and other institutional investors have recently made changes to their positions in QTTB. Marshall Wace LLP bought a new position in shares of Q32 Bio during the 2nd quarter valued at approximately $25,000. Acadian Asset Management LLC purchased a new stake in Q32 Bio during the 1st quarter valued at $50,000. Two Sigma Investments LP purchased a new stake in Q32 Bio during the 3rd quarter valued at $62,000. ADAR1 Capital Management LLC purchased a new stake in Q32 Bio during the 4th quarter valued at $66,000. Finally, AQR Capital Management LLC purchased a new stake in Q32 Bio during the 1st quarter valued at $68,000. Hedge funds and other institutional investors own 31.32% of the company’s stock.

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.