Q32 Bio (NASDAQ:QTTB) Price Target Lowered to $15.00 at Wells Fargo & Company

Q32 Bio (NASDAQ:QTTB) had its price target cut by Wells Fargo & Company from $16.00 to $15.00 in a research note published on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities research analysts also recently issued reports on QTTB. Leerink Partnrs downgraded Q32 Bio from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Leerink Partners reiterated a “market perform” rating and issued a $9.00 price objective (down previously from $68.00) on shares of Q32 Bio in a report on Wednesday, December 11th. Guggenheim downgraded Q32 Bio from a “buy” rating to a “neutral” rating in a report on Wednesday, December 11th. Oppenheimer decreased their target price on Q32 Bio from $80.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, December 11th. Finally, Raymond James reaffirmed an “outperform” rating and set a $22.00 price objective (down from $90.00) on shares of Q32 Bio in a research report on Wednesday, December 11th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Q32 Bio currently has an average rating of “Hold” and an average target price of $24.71.

Q32 Bio Stock Performance

NASDAQ QTTB opened at $1.90 on Wednesday. Q32 Bio has a fifty-two week low of $1.85 and a fifty-two week high of $53.79. The stock’s fifty day moving average is $2.90 and its two-hundred day moving average is $23.44. The firm has a market capitalization of $23.14 million, a P/E ratio of -0.13 and a beta of -0.27. The company has a debt-to-equity ratio of 0.61, a quick ratio of 6.53 and a current ratio of 6.53.

Q32 Bio (NASDAQ:QTTB) last announced its quarterly earnings results on Tuesday, March 11th. The company reported ($1.16) EPS for the quarter, beating the consensus estimate of ($1.25) by $0.09. On average, research analysts anticipate that Q32 Bio will post -12.32 earnings per share for the current year.

Institutional Trading of Q32 Bio

Hedge funds have recently modified their holdings of the business. FMR LLC increased its stake in Q32 Bio by 137.3% in the 3rd quarter. FMR LLC now owns 426,302 shares of the company’s stock valued at $19,022,000 after purchasing an additional 246,664 shares in the last quarter. BNP Paribas Financial Markets increased its position in 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 buying an additional 864 shares in the last quarter. MetLife Investment Management LLC acquired a new stake in shares of Q32 Bio during the third quarter worth $159,000. Eventide Asset Management LLC acquired a new stake in shares of Q32 Bio during the third quarter worth $8,478,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Q32 Bio during the third quarter worth $3,422,000. 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.