Q32 Bio (NASDAQ:QTTB) Cut to “Neutral” at Guggenheim

Guggenheim cut shares of Q32 Bio (NASDAQ:QTTB) from a buy rating to a neutral rating in a research note released on Wednesday, MarketBeat reports.

A number of other equities analysts have also commented on the stock. Wells Fargo & Company restated an “equal weight” rating and issued a $16.00 price objective (down from $95.00) on shares of Q32 Bio in a research report on Wednesday. Piper Sandler cut their price target on shares of Q32 Bio from $85.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday. BMO Capital Markets assumed coverage on shares of Q32 Bio in a report on Friday, December 6th. They issued an “outperform” rating and a $64.00 price target on the stock. Raymond James reissued an “outperform” rating and set a $22.00 price objective (down previously from $90.00) on shares of Q32 Bio in a research note on Wednesday. Finally, Leerink Partners restated a “market perform” rating and issued a $9.00 target price (down from $68.00) on shares of Q32 Bio in a research note on Wednesday. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.86.

Q32 Bio Stock Performance

Shares of QTTB opened at $3.70 on Wednesday. Q32 Bio has a 52-week low of $3.67 and a 52-week high of $53.79. The stock’s 50-day simple moving average is $36.81 and its 200 day simple moving average is $34.13. The company has a debt-to-equity ratio of 0.61, a quick ratio of 6.53 and a current ratio of 6.53. The stock has a market capitalization of $45.07 million, a price-to-earnings ratio of -0.26 and a beta of -0.46.

Institutional Investors Weigh In On Q32 Bio

Several hedge funds have recently added to or reduced their stakes in the company. Values First Advisors Inc. purchased a new position in shares of Q32 Bio during the 3rd quarter valued at about $33,000. BNP Paribas Financial Markets raised its stake in shares of Q32 Bio by 199.1% during the third quarter. BNP Paribas Financial Markets now owns 1,298 shares of the company’s stock worth $58,000 after acquiring an additional 864 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Q32 Bio by 11,681.5% during the second 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. MetLife Investment Management LLC bought a new stake in shares of Q32 Bio in the 3rd quarter worth approximately $159,000. Finally, Franklin Resources Inc. purchased a new stake in shares of Q32 Bio in the 3rd quarter valued at $225,000. Institutional investors 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.