Lee Kalowski Sells 3,972 Shares of Q32 Bio (NASDAQ:QTTB) Stock

Q32 Bio Inc. (NASDAQ:QTTB) CFO Lee Kalowski sold 3,972 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $16.56, for a total transaction of $65,776.32. Following the sale, the chief financial officer owned 138,471 shares of the company’s stock, valued at $2,293,079.76. This trade represents a 2.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Q32 Bio Stock Performance

Shares of QTTB stock opened at $15.03 on Friday. The firm has a market cap of $447.44 million, a price-to-earnings ratio of 5.01 and a beta of 0.23. Q32 Bio Inc. has a 52 week low of $1.62 and a 52 week high of $23.57. The firm’s 50-day simple moving average is $14.90 and its two-hundred day simple moving average is $9.71.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC grew its stake in Q32 Bio by 107.7% in the 1st quarter. Renaissance Technologies LLC now owns 206,915 shares of the company’s stock valued at $1,328,000 after buying an additional 107,315 shares in the last quarter. Carlyle Group Inc. purchased a new stake in shares of Q32 Bio during the second quarter worth $769,000. Cetera Investment Advisers purchased a new stake in shares of Q32 Bio during the first quarter worth $133,000. ADAR1 Capital Management LLC boosted its holdings in shares of Q32 Bio by 75.0% in the first quarter. ADAR1 Capital Management LLC now owns 35,000 shares of the company’s stock worth $225,000 after acquiring an additional 15,000 shares during the period. Finally, XTX Topco Ltd bought a new position in shares of Q32 Bio in the fourth quarter worth $68,000. 31.32% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Zacks Research lowered Q32 Bio from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Oppenheimer upped their price target on Q32 Bio from $20.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Morgan Stanley started coverage on Q32 Bio in a research note on Monday. They set an “overweight” rating and a $34.00 price target for the company. Mizuho initiated coverage on Q32 Bio in a report on Friday, May 22nd. They issued an “outperform” rating and a $14.00 price objective for the company. Finally, HC Wainwright lifted 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. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.00.

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.