Analysts Set Q32 Bio Inc. (NASDAQ:QTTB) Price Target at $68.80

Shares of Q32 Bio Inc. (NASDAQ:QTTB) have received an average rating of “Buy” from the six analysts that are covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $68.80.

Several research analysts have recently issued reports on QTTB shares. Wells Fargo & Company started coverage on shares of Q32 Bio in a research note on Wednesday, September 11th. They issued an “overweight” rating and a $95.00 target price on the stock. Guggenheim assumed coverage on shares of Q32 Bio in a report on Monday, June 17th. They set a “buy” rating and a $100.00 target price on the stock.

Institutional Trading of Q32 Bio

Several large investors have recently modified their holdings of the stock. Ensign Peak Advisors Inc lifted its stake in Q32 Bio by 150.6% during the 2nd quarter. Ensign Peak Advisors Inc now owns 64,481 shares of the company’s stock valued at $1,157,000 after acquiring an additional 38,750 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Q32 Bio in the 2nd quarter valued at about $265,000. Harvard Management Co. Inc. bought a new stake in Q32 Bio in the 2nd quarter valued at about $2,925,000. Rhumbline Advisers raised its stake in Q32 Bio by 11,681.5% in the 2nd quarter. Rhumbline Advisers now owns 7,658 shares of the company’s stock valued at $137,000 after acquiring an additional 7,593 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in Q32 Bio in the 2nd quarter valued at about $315,000. Institutional investors and hedge funds own 31.32% of the company’s stock.

Q32 Bio Trading Up 3.2 %

NASDAQ QTTB opened at $44.79 on Friday. The company has a current ratio of 6.49, a quick ratio of 6.49 and a debt-to-equity ratio of 0.37. The business’s fifty day moving average price is $41.60. The company has a market cap of $534.88 million, a P/E ratio of -1.37 and a beta of -0.32. Q32 Bio has a 1 year low of $8.24 and a 1 year high of $53.79.

Q32 Bio (NASDAQ:QTTB) last announced its quarterly earnings data 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 research analysts forecast that Q32 Bio will post -11.76 EPS for the current fiscal year.

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.