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

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

Several equities analysts have recently commented on QTTB shares. Guggenheim cut shares of Q32 Bio from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 11th. Leerink Partnrs downgraded shares of Q32 Bio from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Oppenheimer cut their target price on Q32 Bio from $80.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, December 11th. Leerink Partners reissued a “market perform” rating and set a $9.00 price target (down previously from $68.00) on shares of Q32 Bio in a report on Wednesday, December 11th. Finally, BMO Capital Markets reduced their price objective on Q32 Bio from $64.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th.

Q32 Bio Stock Up 4.5 %

QTTB stock opened at $3.28 on Tuesday. Q32 Bio has a 52 week low of $2.99 and a 52 week high of $53.79. The business has a 50-day simple moving average of $14.76 and a 200 day simple moving average of $31.17. 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 company has a market cap of $39.95 million, a PE ratio of -0.23 and a beta of -0.30.

Institutional Trading of Q32 Bio

A number of hedge funds have recently made changes to their positions in the company. FMR LLC raised its stake in shares of Q32 Bio by 137.3% during the third quarter. FMR LLC now owns 426,302 shares of the company’s stock valued at $19,022,000 after acquiring an additional 246,664 shares during the last quarter. Eventide Asset Management LLC bought a new position in Q32 Bio during the 3rd quarter worth $8,478,000. Harvard Management Co. Inc. bought a new position in Q32 Bio during the 2nd quarter worth $2,925,000. Point72 Asset Management L.P. acquired a new position in Q32 Bio during the 3rd quarter worth about $3,422,000. Finally, Ensign Peak Advisors Inc grew its position in shares of Q32 Bio by 150.6% in the 2nd quarter. Ensign Peak Advisors Inc now owns 64,481 shares of the company’s stock valued at $1,157,000 after buying an additional 38,750 shares during the last quarter. 31.32% of the stock is owned by institutional investors and hedge funds.

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.