Q32 Bio Inc. (NASDAQ:QTTB) Receives Average Recommendation of “Hold” from Brokerages

Shares of Q32 Bio Inc. (NASDAQ:QTTB) have received an average rating of “Hold” from the eight brokerages that are covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $24.71.

A number of equities research analysts have weighed in on the company. Oppenheimer reduced their price objective 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. Piper Sandler downgraded shares of Q32 Bio from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $20.00 to $4.00 in a research report on Tuesday, February 11th. Guggenheim downgraded shares of Q32 Bio from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 11th. Wells Fargo & Company reduced their target price on shares of Q32 Bio from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Wednesday, March 12th. Finally, Leerink Partnrs lowered Q32 Bio from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th.

Q32 Bio Price Performance

Shares of NASDAQ:QTTB opened at $1.64 on Friday. Q32 Bio has a 12 month low of $1.40 and a 12 month high of $53.79. The firm has a market capitalization of $20.00 million, a P/E ratio of -0.12 and a beta of -0.17. The company has a debt-to-equity ratio of 0.61, a current ratio of 6.53 and a quick ratio of 6.53. The company’s fifty day moving average price is $2.39 and its 200 day moving average price is $18.48.

Q32 Bio (NASDAQ:QTTB) last posted its earnings results on Tuesday, March 11th. The company reported ($1.16) earnings per share for the quarter, beating the consensus estimate of ($1.25) by $0.09. As a group, sell-side analysts predict that Q32 Bio will post -12.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in QTTB. Public Employees Retirement System of Ohio acquired a new position in Q32 Bio during the fourth quarter worth $26,000. Hussman Strategic Advisors Inc. acquired a new position in shares of Q32 Bio during the 4th quarter worth $36,000. AXQ Capital LP acquired a new position in shares of Q32 Bio during the 4th quarter worth $36,000. Raymond James Financial Inc. purchased a new position in shares of Q32 Bio in the 4th quarter valued at about $37,000. Finally, Drive Wealth Management LLC acquired a new stake in shares of Q32 Bio in the fourth quarter valued at about $38,000. 31.32% of the stock is currently 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.