Q32 Bio Inc. (NASDAQ:QTTB) Sees Significant Growth in Short Interest

Q32 Bio Inc. (NASDAQ:QTTB) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totaling 428,900 shares, an increase of 45.3% from the November 30th total of 295,192 shares. Based on an average daily trading volume, of 15,874,400 shares, the days-to-cover ratio is presently 0.0 days. Currently, 5.8% of the shares of the company are sold short. Currently, 5.8% of the shares of the company are sold short. Based on an average daily trading volume, of 15,874,400 shares, the days-to-cover ratio is presently 0.0 days.

Insider Activity

In other Q32 Bio news, CEO Jodie Pope Morrison sold 22,506 shares of Q32 Bio stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $3.46, for a total transaction of $77,870.76. Following the completion of the transaction, the chief executive officer directly owned 99,000 shares of the company’s stock, valued at approximately $342,540. This trade represents a 18.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Lee Kalowski sold 9,072 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $3.46, for a total value of $31,389.12. Following the sale, the chief financial officer owned 39,938 shares in the company, valued at $138,185.48. The trade was a 18.51% decrease in their position. The disclosure for this sale is available in the SEC filing. 40.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Q32 Bio

Several institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its stake in 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 purchasing an additional 25,953 shares during the period. Nuveen LLC bought a new stake in Q32 Bio in the 1st quarter worth $92,000. Monaco Asset Management SAM boosted its position in Q32 Bio by 17.1% during the 2nd quarter. Monaco Asset Management SAM now owns 591,937 shares of the company’s stock valued at $882,000 after acquiring an additional 86,486 shares in the last quarter. Two Sigma Investments LP purchased a new stake in shares of Q32 Bio in the 3rd quarter worth about $62,000. Finally, Jane Street Group LLC purchased a new position in shares of Q32 Bio in the 2nd quarter worth about $69,000. Institutional investors own 31.32% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on QTTB. Wall Street Zen upgraded shares of 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. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Q32 Bio presently has a consensus rating of “Reduce” and an average price target of $7.33.

Q32 Bio Stock Performance

Shares of NASDAQ:QTTB traded up $0.05 during trading on Monday, reaching $3.25. The stock had a trading volume of 59,572 shares, compared to its average volume of 1,205,234. The stock has a market cap of $40.02 million, a price-to-earnings ratio of -0.94 and a beta of 0.23. The firm’s fifty day moving average is $2.75 and its 200 day moving average is $2.27. Q32 Bio has a 52 week low of $1.35 and a 52 week high of $6.37.

Q32 Bio (NASDAQ:QTTB) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.39) by $0.79. On average, research analysts forecast that Q32 Bio will post -12.32 earnings per share for the current fiscal 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.