Jodie Pope Morrison Sells 9,845 Shares of Q32 Bio (NASDAQ:QTTB) Stock

Q32 Bio Inc. (NASDAQ:QTTB) CEO Jodie Pope Morrison sold 9,845 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $16.56, for a total value of $163,033.20. Following the transaction, the chief executive officer owned 343,259 shares in the company, valued at approximately $5,684,369.04. The trade was a 2.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Q32 Bio Stock Performance

NASDAQ:QTTB opened at $15.03 on Friday. Q32 Bio Inc. has a fifty-two week low of $1.62 and a fifty-two week high of $23.57. The firm has a market cap of $447.44 million, a PE ratio of 5.01 and a beta of 0.23. The business has a 50 day moving average price of $14.90 and a 200-day moving average price of $9.71.

Q32 Bio (NASDAQ:QTTB) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.44) EPS for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.02. Research analysts predict that Q32 Bio Inc. will post -1.51 EPS for the current year.

Analysts Set New Price Targets

QTTB has been the topic of several recent analyst reports. Cantor Fitzgerald initiated coverage on Q32 Bio in a research note on Monday, May 18th. They issued an “overweight” rating on the stock. HC Wainwright increased their price objective on Q32 Bio from $13.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Weiss Ratings upgraded Q32 Bio from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 21st. Mizuho assumed coverage on Q32 Bio in a research note on Friday, May 22nd. They set an “outperform” rating and a $14.00 target price on the stock. Finally, Morgan Stanley assumed coverage on Q32 Bio in a report on Monday. They set an “overweight” rating and a $34.00 target price for the company. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Q32 Bio has an average rating of “Moderate Buy” and an average target price of $31.00.

Institutional Trading of Q32 Bio

Several institutional investors and hedge funds have recently bought and sold shares of QTTB. Marshall Wace LLP bought a new position in shares of Q32 Bio in the 2nd quarter worth approximately $25,000. Acadian Asset Management LLC bought a new stake in shares of Q32 Bio during the first quarter valued at approximately $50,000. Two Sigma Investments LP purchased a new stake in Q32 Bio in the third quarter worth $62,000. ADAR1 Capital Management LLC bought a new position in Q32 Bio in the fourth quarter worth $66,000. Finally, AQR Capital Management LLC bought a new position in Q32 Bio in the first quarter worth $68,000. 31.32% of the stock is currently owned by hedge funds and other institutional investors.

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.