Q32 Bio (NASDAQ:QTTB) Stock: Insider Jodie Pope Morrison Sells 3,221 Shares

Q32 Bio Inc. (NASDAQ:QTTB) CEO Jodie Morrison sold 3,221 shares of the company’s stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $8.32, for a total value of $26,798.72. Following the completion of the sale, the chief executive officer owned 340,038 shares in the company, valued at $2,829,116.16. This represents a 0.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Jodie Pope Morrison also recently made the following trade(s):

• On Tuesday, August 25th, Jodie Morrison sold 9,845 shares of Q32 Bio stock. The shares were sold at an average price of $16.56, for a total value of $163,033.20.

Q32 Bio Trading Down 3.0%

Shares of NASDAQ QTTB opened at $7.77 on Friday. Q32 Bio Inc. has a 12 month low of $1.90 and a 12 month high of $23.57. The stock has a 50 day moving average of $11.92 and a 200-day moving average of $10.89. The company has a market capitalization of $231.31 million, a P/E ratio of 3.87 and a beta of 0.31.

Q32 Bio (NASDAQ:QTTB) last posted its quarterly 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 predict that Q32 Bio Inc. will post -1.54 EPS for the current fiscal year.

Institutional Trading of Q32 Bio

Hedge funds have recently added to or reduced their stakes in the company. Squarepoint Ops LLC acquired a new position in Q32 Bio in the 2nd quarter valued at $303,000. Atlas Venture Life Science Advisors LLC grew its stake in shares of Q32 Bio by 29.9% in the second quarter. Atlas Venture Life Science Advisors LLC now owns 2,717,106 shares of the company’s stock valued at $34,616,000 after acquiring an additional 625,000 shares in the last quarter. Susquehanna International Group LLP acquired a new position in shares of Q32 Bio in the second quarter valued at about $297,000. Carlyle Group Inc. acquired a new position in shares of Q32 Bio in the second quarter valued at about $769,000. Finally, BlackRock Inc. bought a new position in Q32 Bio during the second quarter worth about $1,510,000. 31.32% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Morgan Stanley began coverage on shares of Q32 Bio in a research report on Monday, August 24th. They issued an “overweight” rating and a $34.00 price objective on the stock. Jefferies Financial Group initiated coverage on shares of Q32 Bio in a research note on Monday, September 28th. They set a “buy” rating and a $29.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Q32 Bio in a report on Wednesday, September 16th. HC Wainwright lifted their target price on shares of Q32 Bio from $13.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Finally, Mizuho upgraded shares of Q32 Bio to a “strong-buy” rating in a research note on Monday, September 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $32.17.

Q32 Bio Company Profile

Q32 Bio is a clinical-stage biotechnology company focused on developing therapies designed to restore immune homeostasis and address diseases driven by immune dysregulation. The company’s approach targets pathways involved in the transforming growth factor beta superfamily, which plays a role in regulating inflammation, tissue repair and immune responses.

Q32 Bio’s lead product candidate is bempikibart, also known as ADX-914, a fully human monoclonal antibody designed to modulate immune activity through selective targeting of the activin receptor type IIA pathway.