Insider Selling: Q32 Bio (NASDAQ:QTTB) CEO Sells 9,845 Shares of Stock

Q32 Bio Inc. (NASDAQ:QTTB) CEO Jodie Pope Morrison sold 9,845 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $16.56, for a total value of $163,033.20. Following the sale, the chief executive officer owned 343,259 shares in the company, valued at $5,684,369.04. This trade represents a 2.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Q32 Bio Price Performance

NASDAQ QTTB traded down $0.03 during trading hours on Thursday, reaching $16.15. The company’s stock had a trading volume of 198,925 shares, compared to its average volume of 745,675. The firm has a market capitalization of $480.77 million, a price-to-earnings ratio of 5.38 and a beta of 0.23. Q32 Bio Inc. has a 1-year low of $1.62 and a 1-year high of $23.57. The company’s 50-day moving average is $14.75 and its two-hundred day moving average is $9.59.

Q32 Bio (NASDAQ:QTTB) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.46) by $0.02. Equities analysts forecast that Q32 Bio Inc. will post -1.51 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on QTTB. Morgan Stanley started coverage on shares of Q32 Bio in a research report on Monday. They set an “overweight” rating and a $34.00 price objective for the company. Zacks Research lowered shares of Q32 Bio from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. HC Wainwright boosted their target price on shares of Q32 Bio from $13.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Mizuho started coverage on shares of Q32 Bio in a research report on Friday, May 22nd. They set an “outperform” rating and a $14.00 price target for the company. Finally, Weiss Ratings raised shares of Q32 Bio from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 21st. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $31.00.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Atlas Venture Life Science Advisors LLC boosted its position in Q32 Bio by 29.9% during the second quarter. Atlas Venture Life Science Advisors LLC now owns 2,717,106 shares of the company’s stock worth $34,616,000 after acquiring an additional 625,000 shares during the last quarter. Opaleye Management Inc. acquired a new stake in Q32 Bio in the 4th quarter valued at about $708,000. BlackRock Inc. purchased a new position in Q32 Bio in the 2nd quarter worth approximately $1,510,000. Renaissance Technologies LLC lifted its stake in Q32 Bio by 107.7% in the 1st quarter. Renaissance Technologies LLC now owns 206,915 shares of the company’s stock worth $1,328,000 after purchasing an additional 107,315 shares in the last quarter. Finally, Carlyle Group Inc. acquired a new position in shares of Q32 Bio during the 2nd quarter worth approximately $769,000. 31.32% of the stock is owned by institutional investors and hedge funds.

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.