Q32 Bio Inc. (NASDAQ:QTTB) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Q32 Bio Inc. (NASDAQ:QTTB) has been given a consensus recommendation of “Moderate Buy” by the six analysts that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $30.00.

QTTB has been the topic of several recent analyst reports. Zacks Research lowered Q32 Bio from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. Weiss Ratings raised shares of Q32 Bio from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Cantor Fitzgerald began coverage on shares of Q32 Bio in a report on Monday, May 18th. They set an “overweight” rating for the company. Oppenheimer boosted their price objective on Q32 Bio from $20.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. Finally, HC Wainwright upped their price objective on Q32 Bio from $13.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th.

Insider Buying and Selling at Q32 Bio

In related news, Director Diyong Xu bought 1,875,000 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was acquired at an average cost of $8.00 per share, with a total value of $15,000,000.00. Following the transaction, the director directly owned 3,502,987 shares in the company, valued at approximately $28,023,896. This trade represents a 115.17% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Orbimed Advisors Llc bought 1,875,000 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were bought at an average cost of $8.00 per share, for a total transaction of $15,000,000.00. Following the completion of the acquisition, the director directly owned 3,502,987 shares in the company, valued at approximately $28,023,896. This trade represents a 115.17% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 34.46% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Q32 Bio

Hedge funds have recently made changes to their positions in the stock. ADAR1 Capital Management LLC bought a new stake in Q32 Bio in the fourth quarter valued at approximately $66,000. Jane Street Group LLC bought a new position in Q32 Bio during the 4th quarter worth approximately $84,000. HRT Financial LP lifted its position in shares of Q32 Bio by 66.5% in the 4th quarter. HRT Financial LP now owns 24,698 shares of the company’s stock worth $81,000 after purchasing an additional 9,862 shares during the period. Renaissance Technologies LLC lifted its position in shares of Q32 Bio by 110.6% in 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 during the period. Finally, Goldman Sachs Group Inc. boosted its stake 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 valued at $73,000 after purchasing an additional 25,953 shares during the last quarter. 31.32% of the stock is currently owned by institutional investors.

Q32 Bio Stock Up 2.0%

Shares of QTTB opened at $16.49 on Thursday. The company has a current ratio of 5.36, a quick ratio of 5.36 and a debt-to-equity ratio of 0.04. Q32 Bio has a 12 month low of $1.57 and a 12 month high of $23.57. The firm’s 50 day moving average is $13.73 and its 200-day moving average is $8.34. The stock has a market capitalization of $279.67 million, a PE ratio of 6.20 and a beta of 0.23.

Q32 Bio (NASDAQ:QTTB) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.01). Equities research analysts forecast that Q32 Bio will post -1.87 EPS for the current year.

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.