Q32 Bio (NASDAQ:QTTB) Downgraded to “Hold” Rating by Zacks Research

Q32 Bio (NASDAQ:QTTB) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other research analysts also recently commented on the company. Cantor Fitzgerald began coverage on Q32 Bio in a report on Monday. They set an “overweight” rating on the stock. Weiss Ratings upgraded Q32 Bio from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Finally, HC Wainwright reiterated a “buy” rating and set a $13.00 target price on shares of Q32 Bio in a report on Tuesday, May 5th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $13.00.

Q32 Bio Stock Up 5.6%

NASDAQ:QTTB opened at $6.07 on Monday. The stock has a 50-day simple moving average of $6.07 and a 200 day simple moving average of $4.35. Q32 Bio has a 52-week low of $1.35 and a 52-week high of $8.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.36 and a current ratio of 5.36. The company has a market cap of $102.95 million, a PE ratio of 2.28 and a beta of -0.05.

Q32 Bio (NASDAQ:QTTB) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.14. On average, sell-side analysts expect that Q32 Bio will post -2.12 EPS for the current fiscal year.

Insider Activity at Q32 Bio

In other news, CEO Jodie Pope Morrison sold 9,896 shares of Q32 Bio stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $4.51, for a total transaction of $44,630.96. Following the completion of the sale, the chief executive officer directly owned 89,104 shares in the company, valued at approximately $401,859.04. The trade was a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 16,706 shares of company stock worth $75,344 in the last three months. Insiders own 40.00% of the company’s stock.

Hedge Funds Weigh In On Q32 Bio

Several institutional investors and hedge funds have recently bought and sold shares of QTTB. Marshall Wace LLP acquired a new stake in shares of Q32 Bio in the 2nd quarter valued at $25,000. ADAR1 Capital Management LLC purchased a new stake in Q32 Bio during the fourth quarter worth approximately $66,000. XTX Topco Ltd purchased a new position in shares of Q32 Bio in the fourth quarter valued at $68,000. Cetera Investment Advisers acquired a new stake in Q32 Bio in the first quarter valued at $133,000. Finally, HRT Financial LP grew its position in shares of Q32 Bio by 66.5% during the fourth quarter. HRT Financial LP now owns 24,698 shares of the company’s stock worth $81,000 after acquiring an additional 9,862 shares during the last quarter. 31.32% of the stock is currently owned by institutional investors and hedge funds.

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.