Q32 Bio (NASDAQ:QTTB) Trading 3.3% Higher

Shares of Q32 Bio Inc. (NASDAQ:QTTB) shot up 3.3% during trading on Friday . The company traded as high as $47.30 and last traded at $47.30. Approximately 5,936 shares were traded during trading, a decline of 90% from the average session volume of 58,363 shares. The stock had previously closed at $45.81.

Analysts Set New Price Targets

QTTB has been the topic of a number of recent analyst reports. Leerink Partners started coverage on shares of Q32 Bio in a research report on Tuesday, May 21st. They issued an “outperform” rating and a $54.00 price objective on the stock. Guggenheim initiated coverage on Q32 Bio in a research report on Monday, June 17th. They issued a “buy” rating and a $100.00 price objective on the stock. Finally, Leerink Partnrs raised shares of Q32 Bio to a “strong-buy” rating in a research note on Tuesday, May 21st. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Q32 Bio has an average rating of “Buy” and an average target price of $62.25.

Q32 Bio Stock Performance

The firm’s fifty day moving average price is $32.96. The company has a quick ratio of 6.49, a current ratio of 6.49 and a debt-to-equity ratio of 0.37. The stock has a market cap of $492.01 million, a price-to-earnings ratio of -1.28 and a beta of -0.32.

Q32 Bio (NASDAQ:QTTB) last posted its earnings results on Thursday, August 8th. The company reported ($1.42) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.42). Sell-side analysts predict that Q32 Bio Inc. will post -11.76 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in QTTB. Carlyle Group Inc. acquired a new stake in Q32 Bio in the 1st quarter worth approximately $18,074,000. Atlas Venture Life Science Advisors LLC acquired a new position in shares of Q32 Bio in the 1st quarter valued at $35,649,000. Vanguard Group Inc. purchased a new position in Q32 Bio in the 1st quarter worth $1,836,000. Acadian Asset Management LLC acquired a new stake in Q32 Bio during the 1st quarter worth about $62,000. Finally, Platinum Investment Management Ltd. purchased a new stake in Q32 Bio during the 1st quarter valued at about $1,874,000. 31.32% of the stock is owned by institutional investors and hedge funds.

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.