Q32 Bio Inc. (NASDAQ:QTTB) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Q32 Bio Inc. (NASDAQ:QTTB) have earned a consensus rating of “Moderate Buy” from the seven ratings firms that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $31.00.

Several equities analysts have issued reports on the stock. HC Wainwright increased their price objective on shares of Q32 Bio from $13.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Mizuho assumed coverage on shares of Q32 Bio in a research note on Friday, May 22nd. They issued an “outperform” rating and a $14.00 price target on the stock. Morgan Stanley initiated coverage on Q32 Bio in a report on Monday, August 24th. They issued an “overweight” rating and a $34.00 price objective on the stock. Oppenheimer boosted their price objective on Q32 Bio from $20.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Finally, Weiss Ratings raised Q32 Bio from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 21st.

Insider Buying and Selling

In other Q32 Bio news, insider Shelia M. Violette sold 2,798 shares of Q32 Bio stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $16.56, for a total transaction of $46,334.88. Following the sale, the insider owned 127,771 shares of the company’s stock, valued at $2,115,887.76. The trade was a 2.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Lee Kalowski sold 3,972 shares of the company’s stock in a transaction on 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 directly owned 138,471 shares of the company’s stock, valued at $2,293,079.76. The trade was a 2.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 16,615 shares of company stock worth $275,144. 34.46% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Q32 Bio

A number of institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC purchased a new stake in Q32 Bio during the 1st quarter valued at about $68,000. Goldman Sachs Group Inc. lifted its stake in Q32 Bio by 140.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 44,373 shares of the company’s stock worth $73,000 after purchasing an additional 25,953 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Q32 Bio during the 1st quarter worth approximately $50,000. Marshall Wace LLP acquired a new position in shares of Q32 Bio during the 2nd quarter worth approximately $25,000. Finally, Jane Street Group LLC purchased a new stake in shares of Q32 Bio in the second quarter valued at approximately $69,000. 31.32% of the stock is currently owned by institutional investors and hedge funds.

Q32 Bio Price Performance

Shares of QTTB stock opened at $15.03 on Monday. The company has a market cap of $447.44 million, a price-to-earnings ratio of 5.01 and a beta of 0.23. The stock has a 50 day simple moving average of $14.90 and a 200-day simple moving average of $9.75. Q32 Bio has a 1-year low of $1.62 and a 1-year high of $23.57.

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

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.