Q32 Bio Inc. (NASDAQ:QTTB) Receives $31.00 Consensus Price Target from Brokerages

Q32 Bio Inc. (NASDAQ:QTTB) has earned an average recommendation of “Moderate Buy” from the seven analysts that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $31.00.

A number of research firms recently weighed in on QTTB. Morgan Stanley started coverage on shares of Q32 Bio in a report on Monday, August 24th. They issued an “overweight” rating and a $34.00 price objective on the stock. Mizuho began coverage on shares of Q32 Bio in a research note on Friday, May 22nd. They issued an “outperform” rating and a $14.00 price target on the stock. Weiss Ratings upgraded Q32 Bio from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 21st. HC Wainwright raised their target price on Q32 Bio from $13.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Finally, Oppenheimer raised their target price on Q32 Bio from $20.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, July 13th.

Insider Activity

In related news, CFO Lee Kalowski sold 3,972 shares of Q32 Bio stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $16.56, for a total transaction of $65,776.32. Following the sale, the chief financial officer directly owned 138,471 shares in the company, valued at $2,293,079.76. The trade was a 2.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jodie Morrison sold 9,845 shares of the company’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $16.56, for a total transaction of $163,033.20. Following the completion of the sale, the chief executive officer directly owned 343,259 shares of the company’s stock, valued at $5,684,369.04. The trade was a 2.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 16,615 shares of company stock valued at $275,144. Company insiders own 34.46% of the company’s stock.

Hedge Funds Weigh In On Q32 Bio

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP bought a new stake in shares of Q32 Bio in the 2nd quarter worth $25,000. ADAR1 Capital Management LLC acquired a new position in Q32 Bio during the fourth quarter worth about $66,000. XTX Topco Ltd bought a new stake in Q32 Bio in the fourth quarter worth about $68,000. Cetera Investment Advisers bought a new position in shares of Q32 Bio during the 1st quarter valued at about $133,000. Finally, Susquehanna International Group LLP acquired a new position in shares of Q32 Bio in the 2nd quarter worth approximately $297,000. 31.32% of the stock is owned by institutional investors.

Q32 Bio Stock Down 6.3%

QTTB opened at $11.99 on Monday. The company’s 50-day moving average price is $15.04 and its 200 day moving average price is $10.05. Q32 Bio has a fifty-two week low of $1.63 and a fifty-two week high of $23.57. The firm has a market cap of $356.94 million, a price-to-earnings ratio of 4.00 and a beta of 0.21.

Q32 Bio (NASDAQ:QTTB) last posted its earnings results on Wednesday, August 5th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.46) by $0.02. Research analysts anticipate that Q32 Bio will post -1.51 earnings per share for the current 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.