Q32 Bio Inc. (NASDAQ:QTTB) Given Consensus Recommendation of “Buy” by Analysts

Q32 Bio Inc. (NASDAQ:QTTB) has been assigned an average recommendation of “Buy” from the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $72.33.

QTTB has been the subject of a number of recent analyst reports. Wells Fargo & Company began coverage on shares of Q32 Bio in a research note on Wednesday, September 11th. They set an “overweight” rating and a $95.00 price target for the company. Raymond James started coverage on Q32 Bio in a research report on Thursday, October 24th. They set a “strong-buy” rating and a $90.00 target price for the company.

Q32 Bio Stock Down 1.2 %

NASDAQ QTTB opened at $46.84 on Thursday. The stock has a market cap of $564.89 million, a PE ratio of -2.03 and a beta of -0.32. The company has a current ratio of 6.49, a quick ratio of 6.49 and a debt-to-equity ratio of 0.37. Q32 Bio has a 12 month low of $8.24 and a 12 month high of $53.79. The stock’s 50 day moving average is $45.64 and its 200 day moving average is $33.90.

Q32 Bio (NASDAQ:QTTB) last posted its earnings results on Thursday, August 8th. The company reported ($1.42) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.42). Research analysts predict that Q32 Bio will post -12.13 EPS for the current fiscal year.

Institutional Trading of Q32 Bio

A number of institutional investors have recently made changes to their positions in QTTB. Values First Advisors Inc. purchased a new stake in shares of Q32 Bio during the third quarter valued at $33,000. Acadian Asset Management LLC purchased a new stake in Q32 Bio during the 1st quarter valued at about $62,000. Rhumbline Advisers increased its holdings in shares of Q32 Bio by 11,681.5% in the second quarter. Rhumbline Advisers now owns 7,658 shares of the company’s stock valued at $137,000 after purchasing an additional 7,593 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Q32 Bio in the second quarter worth about $265,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Q32 Bio during the second quarter worth about $315,000. Institutional investors and hedge funds own 31.32% of the company’s stock.

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.