Q32 Bio (NASDAQ:QTTB) Stock Rating Lowered by Zacks Research

Q32 Bio (NASDAQ:QTTB) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Several other equities analysts have also weighed in on the stock. Weiss Ratings upgraded shares of Q32 Bio from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. HC Wainwright restated a “buy” rating and set a $13.00 price target on shares of Q32 Bio in a research report on Tuesday, May 5th. Finally, Cantor Fitzgerald began coverage on shares of Q32 Bio in a research report on Monday. They set an “overweight” rating for the company. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Q32 Bio has an average rating of “Moderate Buy” and an average target price of $13.00.

Q32 Bio Stock Up 5.6%

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

Q32 Bio (NASDAQ:QTTB) last posted its quarterly 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. Analysts expect that Q32 Bio will post -2.12 EPS for the current year.

Insider Buying and Selling at Q32 Bio

In related news, CEO Jodie Pope Morrison sold 9,896 shares of the stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $4.51, for a total transaction of $44,630.96. Following the sale, the chief executive officer owned 89,104 shares of the company’s stock, valued at approximately $401,859.04. This represents a 10.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 16,706 shares of company stock worth $75,344. 40.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Q32 Bio

Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its holdings in Q32 Bio by 19.9% during the 4th quarter. Geode Capital Management LLC now owns 106,113 shares of the company’s stock worth $352,000 after purchasing an additional 17,617 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Q32 Bio by 110.6% during the 4th quarter. Renaissance Technologies LLC now owns 99,600 shares of the company’s stock worth $331,000 after purchasing an additional 52,300 shares in the last quarter. Jane Street Group LLC purchased a new stake in Q32 Bio during the 4th quarter worth about $84,000. Goldman Sachs Group Inc. lifted its holdings in Q32 Bio by 140.9% during 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 in the last quarter. Finally, AQR Capital Management LLC purchased a new stake in Q32 Bio during the 1st quarter worth about $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.