Q32 Bio (NASDAQ:QTTB) Shares Down 3.7%

Q32 Bio Inc. (NASDAQ:QTTB)’s stock price traded down 3.7% during mid-day trading on Monday . The stock traded as low as $45.70 and last traded at $47.17. 18,853 shares were traded during mid-day trading, a decline of 71% from the average session volume of 64,363 shares. The stock had previously closed at $48.98.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on QTTB shares. Wells Fargo & Company started coverage on Q32 Bio in a report on Wednesday, September 11th. They set an “overweight” rating and a $95.00 price objective on the stock. Guggenheim started coverage on Q32 Bio in a research report on Monday, June 17th. They issued a “buy” rating and a $100.00 price target on the stock. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Q32 Bio presently has a consensus rating of “Buy” and an average price target of $68.80.

Q32 Bio Trading Up 1.6 %

The stock’s fifty day simple moving average is $39.24. The company has a debt-to-equity ratio of 0.37, a current ratio of 6.49 and a quick ratio of 6.49.

Q32 Bio (NASDAQ:QTTB) last released its quarterly earnings results on Thursday, August 8th. The company reported ($1.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.42). Equities analysts anticipate that Q32 Bio Inc. will post -11.76 earnings per share for the current fiscal year.

Institutional Trading of Q32 Bio

Hedge funds have recently modified their holdings of the stock. Carlyle Group Inc. acquired a new stake in shares of Q32 Bio in the 1st quarter valued at $18,074,000. Atlas Venture Life Science Advisors LLC acquired a new stake in Q32 Bio in the first quarter worth about $35,649,000. Vanguard Group Inc. bought a new stake in Q32 Bio during the 1st quarter worth about $1,836,000. Acadian Asset Management LLC acquired a new position in Q32 Bio during the 1st quarter valued at about $62,000. Finally, Platinum Investment Management Ltd. bought a new position in shares of Q32 Bio in the 1st quarter valued at about $1,874,000. 31.32% of the stock is owned by institutional investors.

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.