Brokerages Set Q32 Bio Inc. (NASDAQ:QTTB) PT at $13.50

Q32 Bio Inc. (NASDAQ:QTTB) has received an average rating of “Moderate Buy” from the five analysts that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $13.50.

Several analysts have weighed in on QTTB shares. Mizuho started coverage on Q32 Bio in a report on Friday, May 22nd. They issued an “outperform” rating and a $14.00 target price on the stock. Zacks Research lowered Q32 Bio from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Cantor Fitzgerald assumed coverage on Q32 Bio in a research note on Monday, May 18th. They set an “overweight” rating on the stock. HC Wainwright reaffirmed a “buy” rating and set a $13.00 price objective on shares of Q32 Bio in a research note on Tuesday, May 5th. Finally, Weiss Ratings raised Q32 Bio from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 11th.

Insiders Place Their Bets

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

Institutional Trading of Q32 Bio

A number of large investors have recently made changes to their positions in QTTB. AQR Capital Management LLC acquired a new stake in shares of Q32 Bio during the first quarter valued at $68,000. Goldman Sachs Group Inc. boosted its stake in shares of Q32 Bio by 140.9% during the first quarter. Goldman Sachs Group Inc. now owns 44,373 shares of the company’s stock valued at $73,000 after acquiring an additional 25,953 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Q32 Bio during the first quarter worth about $50,000. Marshall Wace LLP purchased a new position in Q32 Bio during the second quarter worth about $25,000. Finally, Jane Street Group LLC purchased a new position in Q32 Bio during the second quarter worth about $69,000. Institutional investors and hedge funds own 31.32% of the company’s stock.

Q32 Bio Stock Up 6.3%

Q32 Bio stock opened at $12.65 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.36 and a current ratio of 5.36. The firm has a market capitalization of $214.54 million, a price-to-earnings ratio of 4.76 and a beta of 0.26. Q32 Bio has a fifty-two week low of $1.35 and a fifty-two week high of $14.85. The stock’s fifty day moving average is $8.32 and its two-hundred day moving average is $5.81.

Q32 Bio (NASDAQ:QTTB) last posted its 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 predict that Q32 Bio will post -1.96 EPS for the current fiscal year.

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.