Q32 Bio (NASDAQ:QTTB) Insider Sells $46,334.88 in Stock

Q32 Bio Inc. (NASDAQ:QTTB) insider Shelia Violette sold 2,798 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $16.56, for a total transaction of $46,334.88. Following the completion of the transaction, the insider directly owned 127,771 shares of the company’s stock, valued at $2,115,887.76. This represents a 2.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Q32 Bio Trading Down 6.9%

Shares of NASDAQ:QTTB opened at $15.03 on Friday. The company has a market cap of $447.44 million, a PE ratio of 5.01 and a beta of 0.23. The company’s 50 day moving average is $14.90 and its two-hundred day moving average is $9.71. Q32 Bio Inc. has a 52 week low of $1.62 and a 52 week high of $23.57.

Q32 Bio (NASDAQ:QTTB) last announced its earnings results on Wednesday, August 5th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.02. As a group, equities research analysts expect that Q32 Bio Inc. will post -1.51 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on QTTB shares. Cantor Fitzgerald began coverage on shares of Q32 Bio in a research report on Monday, May 18th. They set an “overweight” rating for the company. Morgan Stanley initiated coverage on Q32 Bio in a research note on Monday, August 24th. They issued an “overweight” rating and a $34.00 price objective for the company. Mizuho assumed coverage on Q32 Bio in a research report on Friday, May 22nd. They set an “outperform” rating and a $14.00 target price on the stock. Oppenheimer upped their target price on Q32 Bio from $20.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Finally, HC Wainwright raised their price target on Q32 Bio from $13.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $31.00.

Institutional Investors Weigh In On Q32 Bio

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Marshall Wace LLP purchased a new position in shares of Q32 Bio during the 2nd quarter worth about $25,000. Acadian Asset Management LLC purchased a new stake in Q32 Bio in the first quarter valued at approximately $50,000. Two Sigma Investments LP acquired a new position in Q32 Bio during the third quarter worth approximately $62,000. ADAR1 Capital Management LLC acquired a new position in Q32 Bio during the fourth quarter worth approximately $66,000. Finally, AQR Capital Management LLC purchased a new position in Q32 Bio during the first quarter worth approximately $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.