Q32 Bio Inc. (NASDAQ:QTTB) Short Interest Up 16.4% in August

Q32 Bio Inc. (NASDAQ:QTTB) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 364,600 shares, an increase of 16.4% from the August 15th total of 313,100 shares. Based on an average daily trading volume, of 108,100 shares, the short-interest ratio is currently 3.4 days. Currently, 8.6% of the shares of the company are short sold.

Q32 Bio Trading Down 2.5 %

NASDAQ QTTB traded down $1.17 on Monday, hitting $44.98. 118,911 shares of the company traded hands, compared to its average volume of 62,364. The firm has a market cap of $537.15 million, a P/E ratio of -1.38 and a beta of -0.32. 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 business has a 50 day simple moving average of $36.87. Q32 Bio has a 52-week low of $8.24 and a 52-week high of $53.79.

Q32 Bio (NASDAQ:QTTB) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($1.42) EPS for the quarter, missing the consensus estimate of ($1.00) by ($0.42). As a group, sell-side analysts predict that Q32 Bio will post -11.76 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on QTTB. Guggenheim began coverage on Q32 Bio in a research note on Monday, June 17th. They issued a “buy” rating and a $100.00 price target on the stock. Leerink Partners began coverage on Q32 Bio in a research note on Tuesday, May 21st. They issued an “outperform” rating and a $54.00 price target on the stock. Wells Fargo & Company began coverage on Q32 Bio in a research note on Wednesday, September 11th. They issued an “overweight” rating and a $95.00 price target on the stock. Finally, Leerink Partnrs upgraded Q32 Bio to a “strong-buy” rating in a research report on Tuesday, May 21st. Five equities 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.com, Q32 Bio presently has a consensus rating of “Buy” and a consensus target price of $68.80.

Hedge Funds Weigh In On Q32 Bio

Large investors have recently made changes to their positions in the business. Acadian Asset Management LLC bought a new stake in shares of Q32 Bio in the first quarter worth about $62,000. Rhumbline Advisers increased its stake in Q32 Bio by 11,681.5% during the second quarter. Rhumbline Advisers now owns 7,658 shares of the company’s stock worth $137,000 after acquiring an additional 7,593 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Q32 Bio during the second quarter worth approximately $265,000. Bank of New York Mellon Corp bought a new stake in Q32 Bio during the second quarter worth approximately $315,000. Finally, Ikarian Capital LLC bought a new stake in Q32 Bio during the first quarter worth approximately $381,000. 31.32% of the stock is currently owned by hedge funds and other institutional investors.

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.