Q32 Bio (NASDAQ:QTTB) Posts Earnings Results, Beats Expectations By $0.79 EPS

Q32 Bio (NASDAQ:QTTB) posted its quarterly earnings results on Thursday. The company reported ($0.60) earnings per share for the quarter, topping the consensus estimate of ($1.39) by $0.79, FiscalAI reports.

Q32 Bio Trading Down 9.5%

NASDAQ QTTB traded down $0.23 on Thursday, reaching $2.20. 73,578 shares of the stock were exchanged, compared to its average volume of 532,116. The firm has a market capitalization of $26.84 million, a PE ratio of -0.52 and a beta of 0.15. Q32 Bio has a one year low of $1.35 and a one year high of $40.37. The company’s 50-day simple moving average is $2.43 and its two-hundred day simple moving average is $2.02.

Institutional Investors Weigh In On Q32 Bio

Several institutional investors and hedge funds have recently modified their holdings of the stock. Marshall Wace LLP purchased a new position in shares of Q32 Bio in the second quarter worth $25,000. Acadian Asset Management LLC bought a new stake in Q32 Bio in the 1st quarter valued at $50,000. AQR Capital Management LLC purchased a new stake in Q32 Bio in the 1st quarter worth $68,000. Jane Street Group LLC bought a new position in shares of Q32 Bio during the 2nd quarter valued at about $69,000. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Q32 Bio by 140.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 44,373 shares of the company’s stock valued at $73,000 after purchasing an additional 25,953 shares during the last quarter. Institutional investors own 31.32% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Wall Street Zen raised Q32 Bio from a “sell” rating to a “hold” rating in a research note on Sunday, October 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Q32 Bio in a research report on Tuesday, October 14th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.17.

About Q32 Bio

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.