Insider Selling: Q32 Bio (NASDAQ:QTTB) CFO Sells $65,776.32 in Stock

Q32 Bio Inc. (NASDAQ:QTTB) CFO Lee Kalowski sold 3,972 shares of the stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $16.56, for a total value of $65,776.32. Following the transaction, the chief financial officer directly owned 138,471 shares in the company, valued at approximately $2,293,079.76. The trade was a 2.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Q32 Bio Price Performance

Shares of NASDAQ:QTTB opened at $15.03 on Friday. The firm has a market capitalization of $447.44 million, a PE ratio of 5.01 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 firm’s 50-day moving average is $14.90 and its two-hundred day moving average is $9.71.

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, beating analysts’ consensus estimates of ($0.46) by $0.02. Analysts expect that Q32 Bio Inc. will post -1.51 EPS for the current fiscal year.

Institutional Trading of Q32 Bio

A number of institutional investors have recently bought and sold shares of the business. Marshall Wace LLP purchased a new position in shares of Q32 Bio in the 2nd quarter valued at about $25,000. ADAR1 Capital Management LLC acquired a new stake in Q32 Bio during the fourth quarter worth approximately $66,000. XTX Topco Ltd acquired a new stake in Q32 Bio during the fourth quarter worth approximately $68,000. Cetera Investment Advisers purchased a new stake in shares of Q32 Bio during the 1st quarter worth approximately $133,000. Finally, Susquehanna International Group LLP acquired a new position in shares of Q32 Bio in the 2nd quarter valued at $297,000. 31.32% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on QTTB shares. Mizuho assumed coverage on Q32 Bio in a research report on Friday, May 22nd. They set an “outperform” rating and a $14.00 price objective on the stock. Cantor Fitzgerald assumed coverage on Q32 Bio in a research note on Monday, May 18th. They set an “overweight” rating for the company. Zacks Research downgraded Q32 Bio from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Weiss Ratings raised Q32 Bio from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 21st. Finally, HC Wainwright lifted 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. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $31.00.

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.