Q32 Bio (NASDAQ:QTTB) Downgraded by BMO Capital Markets to Market Perform

BMO Capital Markets lowered shares of Q32 Bio (NASDAQ:QTTB) from an outperform rating to a market perform rating in a report issued on Tuesday, MarketBeat.com reports. The firm currently has $3.00 price target on the stock, down from their previous price target of $22.00.

A number of other equities analysts also recently issued reports on the company. Leerink Partners reiterated a “market perform” rating and set a $9.00 price target (down previously 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. Oppenheimer lowered their price target on Q32 Bio from $80.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 11th. Leerink Partnrs downgraded Q32 Bio from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $16.00 target price (down previously from $95.00) on shares of Q32 Bio in a research report on Wednesday, December 11th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $24.86.

Q32 Bio Stock Performance

Shares of QTTB stock opened at $2.68 on Tuesday. The company has a market capitalization of $32.64 million, a P/E ratio of -0.19 and a beta of -0.32. The business’s 50 day moving average is $5.04 and its two-hundred day moving average is $28.35. The company has a current ratio of 6.53, a quick ratio of 6.53 and a debt-to-equity ratio of 0.61. Q32 Bio has a 12-month low of $2.58 and a 12-month high of $53.79.

Hedge Funds Weigh In On Q32 Bio

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Values First Advisors Inc. acquired a new stake in shares of Q32 Bio in the third quarter valued at approximately $33,000. BNP Paribas Financial Markets increased its holdings in shares of Q32 Bio by 199.1% in the third quarter. BNP Paribas Financial Markets now owns 1,298 shares of the company’s stock valued at $58,000 after purchasing an additional 864 shares during the last quarter. MetLife Investment Management LLC acquired a new stake in shares of Q32 Bio in the third quarter valued at approximately $159,000. Franklin Resources Inc. acquired a new stake in shares of Q32 Bio in the third quarter valued at approximately $225,000. Finally, Barclays PLC increased its holdings in shares of Q32 Bio by 105.2% in the third quarter. Barclays PLC now owns 10,443 shares of the company’s stock valued at $465,000 after purchasing an additional 5,353 shares during the last quarter. Hedge funds and other 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.