Brokerages Set Q32 Bio Inc. (NASDAQ:QTTB) Price Target at $72.33

Q32 Bio Inc. (NASDAQ:QTTB) has been given an average recommendation of “Buy” by the seven research firms that are presently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $72.33.

Several analysts have commented on the company. Wells Fargo & Company assumed coverage on Q32 Bio in a report on Wednesday, September 11th. They issued an “overweight” rating and a $95.00 price target for the company. Raymond James assumed coverage on Q32 Bio in a report on Thursday, October 24th. They issued a “strong-buy” rating and a $90.00 price target for the company.

Q32 Bio Trading Up 7.3 %

Q32 Bio stock opened at $26.92 on Monday. The stock has a market cap of $327.89 million, a PE ratio of -1.89 and a beta of -0.32. The stock has a 50-day moving average price of $42.70 and a 200 day moving average price of $34.91. Q32 Bio has a 52 week low of $9.18 and a 52 week high of $53.79. The company has a current ratio of 6.53, a quick ratio of 6.53 and a debt-to-equity ratio of 0.61.

Hedge Funds Weigh In On Q32 Bio

Several hedge funds and other institutional investors have recently modified their holdings of QTTB. Vanguard Group Inc. acquired a new position in shares of Q32 Bio in the 1st quarter valued at about $1,836,000. Acadian Asset Management LLC acquired a new position in shares of Q32 Bio in the 1st quarter valued at about $62,000. Ikarian Capital LLC acquired a new position in shares of Q32 Bio in the 1st quarter valued at about $381,000. Bank of New York Mellon Corp acquired a new position in shares of Q32 Bio in the 2nd quarter valued at about $315,000. Finally, Rhumbline Advisers lifted its position in Q32 Bio by 11,681.5% during the 2nd quarter. Rhumbline Advisers now owns 7,658 shares of the company’s stock worth $137,000 after acquiring an additional 7,593 shares in the last quarter. 31.32% of the stock is owned by institutional investors and hedge funds.

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.