Q32 Bio Inc. (NASDAQ:QTTB) Given Consensus Rating of “Moderate Buy” by Brokerages

Q32 Bio Inc. (NASDAQ:QTTB) has been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $22.3333.

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

Insider Buying and Selling at Q32 Bio

In related news, Director Orbimed Advisors Llc bought 1,875,000 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was 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 of the company’s stock, valued at approximately $28,023,896. This trade represents a 115.17% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Diyong Xu bought 1,875,000 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were bought at an average cost of $8.00 per share, with a total value of $15,000,000.00. Following the purchase, the director directly owned 3,502,987 shares of the company’s stock, valued at approximately $28,023,896. This represents a 115.17% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 34.46% of the company’s stock.

Institutional Investors Weigh In On Q32 Bio

Several institutional investors have recently bought and sold shares of the company. ADAR1 Capital Management LLC acquired a new position in shares of Q32 Bio during the fourth quarter valued at approximately $66,000. Jane Street Group LLC purchased a new position in shares of Q32 Bio in the fourth quarter valued at approximately $84,000. HRT Financial LP boosted its stake in shares of Q32 Bio by 66.5% in the fourth quarter. HRT Financial LP now owns 24,698 shares of the company’s stock worth $81,000 after acquiring an additional 9,862 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Q32 Bio by 110.6% in the fourth quarter. Renaissance Technologies LLC now owns 99,600 shares of the company’s stock worth $331,000 after acquiring an additional 52,300 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position 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 worth $73,000 after purchasing an additional 25,953 shares in the last quarter. 31.32% of the stock is currently owned by institutional investors and hedge funds.

Q32 Bio Stock Down 1.1%

QTTB stock opened at $15.05 on Friday. Q32 Bio has a one year low of $1.57 and a one year high of $23.57. 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’s fifty day moving average is $11.40 and its 200 day moving average is $7.21. The firm has a market cap of $255.19 million, a PE ratio of 5.66 and a beta of 0.24.

Q32 Bio (NASDAQ:QTTB) last posted its earnings results on Tuesday, May 5th. The company reported ($0.54) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.14. On average, research analysts forecast that Q32 Bio will post -1.87 EPS for the current 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.