Q32 Bio (NASDAQ:QTTB) Upgraded at Mizuho

Q32 Bio (NASDAQ:QTTB) was upgraded by Mizuho to a “strong-buy” rating in a research note issued to investors on Friday,Zacks.com reports.

Other analysts also recently issued research reports about the company. Zacks Research downgraded Q32 Bio from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. HC Wainwright restated a “buy” rating and set a $13.00 target price on shares of Q32 Bio in a research note on Tuesday, May 5th. Weiss Ratings upgraded Q32 Bio from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Finally, Cantor Fitzgerald initiated coverage on Q32 Bio in a research note on Monday. They set an “overweight” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $13.50.

Q32 Bio Price Performance

Shares of NASDAQ:QTTB opened at $5.80 on Friday. The business has a 50 day moving average price of $6.05 and a 200 day moving average price of $4.40. Q32 Bio has a twelve month low of $1.35 and a twelve month high of $8.05. The company has a market cap of $98.37 million, a price-to-earnings ratio of 2.18 and a beta of -0.05. The company has a quick ratio of 5.36, a current ratio of 5.36 and a debt-to-equity ratio of 0.04.

Q32 Bio (NASDAQ:QTTB) last announced its earnings results on Tuesday, May 5th. The company reported ($0.54) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.14. Research analysts predict that Q32 Bio will post -2.02 earnings per share for the current year.

Insider Buying and Selling

In other Q32 Bio news, CEO Jodie Pope Morrison sold 9,896 shares of the company’s stock in a transaction that occurred on 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 $401,859.04. This represents a 10.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last ninety days, insiders sold 16,706 shares of company stock valued at $75,344. Corporate insiders own 40.00% of the company’s stock.

Hedge Funds Weigh In On Q32 Bio

A number of hedge funds have recently modified their holdings of the stock. Opaleye Management Inc. acquired a new position in shares of Q32 Bio in the 4th quarter worth approximately $708,000. Renaissance Technologies LLC raised its holdings in shares of Q32 Bio by 107.7% in the 1st quarter. Renaissance Technologies LLC now owns 206,915 shares of the company’s stock worth $1,328,000 after buying an additional 107,315 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Q32 Bio by 19.9% in the 4th quarter. Geode Capital Management LLC now owns 106,113 shares of the company’s stock worth $352,000 after buying an additional 17,617 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Q32 Bio in the 2nd quarter worth approximately $69,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Q32 Bio by 140.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 44,373 shares of the company’s stock worth $73,000 after buying an additional 25,953 shares in the last quarter. 31.32% of the stock is owned by institutional investors and hedge funds.

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.