Q32 Bio Inc. (NASDAQ:QTTB) Receives $29.86 Consensus Target Price from Analysts

Q32 Bio Inc. (NASDAQ:QTTB) has been given an average recommendation of “Moderate Buy” by the eight analysts that are covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $29.86.

A number of analysts have commented on the stock. BMO Capital Markets cut their price objective on shares of Q32 Bio from $64.00 to $22.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Leerink Partners restated a “market perform” rating and issued a $9.00 price target (down from $68.00) on shares of Q32 Bio in a research report on Wednesday, December 11th. Guggenheim downgraded Q32 Bio from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 11th. Piper Sandler dropped their target price on Q32 Bio from $85.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, December 11th. Finally, Raymond James reiterated an “outperform” rating and set a $22.00 price target (down previously from $90.00) on shares of Q32 Bio in a report on Wednesday, December 11th.

Hedge Funds Weigh In On Q32 Bio

A number of hedge funds have recently modified their holdings of the business. Values First Advisors Inc. purchased a new stake in Q32 Bio in the 3rd quarter valued at about $33,000. BNP Paribas Financial Markets increased its position 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 valued at $58,000 after acquiring an additional 864 shares during the last quarter. Rhumbline Advisers raised its stake in shares of 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. MetLife Investment Management LLC acquired a new position in shares of Q32 Bio in the 3rd quarter worth approximately $159,000. Finally, Franklin Resources Inc. purchased a new position in shares of Q32 Bio during the 3rd quarter worth approximately $225,000. 31.32% of the stock is currently owned by hedge funds and other institutional investors.

Q32 Bio Price Performance

Shares of NASDAQ QTTB opened at $3.59 on Friday. The firm has a 50-day simple moving average of $32.53 and a 200-day simple moving average of $33.36. The company has a quick ratio of 6.53, a current ratio of 6.53 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $43.73 million, a price-to-earnings ratio of -0.25 and a beta of -0.46. Q32 Bio has a 52 week low of $3.02 and a 52 week high of $53.79.

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.