Q32 Bio Inc. (NASDAQ:QTTB) Given Average Rating of “Buy” by Brokerages

Q32 Bio Inc. (NASDAQ:QTTB) has been assigned an average rating of “Buy” from the six brokerages that are presently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $68.80.

A number of equities research analysts recently weighed in on the company. Guggenheim assumed coverage on Q32 Bio in a report on Monday, June 17th. They issued a “buy” rating and a $100.00 price target on the stock. Leerink Partners initiated coverage on Q32 Bio in a report on Tuesday, May 21st. They issued an “outperform” rating and a $54.00 price target on the stock. Wells Fargo & Company initiated coverage on Q32 Bio in a report on Wednesday, September 11th. They set an “overweight” rating and a $95.00 target price on the stock. Finally, Leerink Partnrs upgraded Q32 Bio to a “strong-buy” rating in a report on Tuesday, May 21st.

Institutional Investors Weigh In On Q32 Bio

A number of large investors have recently bought and sold shares of QTTB. Acadian Asset Management LLC purchased a new position in shares of Q32 Bio during the 1st quarter worth $62,000. Rhumbline Advisers lifted its stake in shares of Q32 Bio by 11,681.5% during the 2nd quarter. Rhumbline Advisers now owns 7,658 shares of the company’s stock worth $137,000 after purchasing an additional 7,593 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Q32 Bio during the 2nd quarter worth $265,000. Bank of New York Mellon Corp purchased a new position in shares of Q32 Bio during the 2nd quarter worth $315,000. Finally, Ikarian Capital LLC purchased a new position in shares of Q32 Bio during the 1st quarter worth $381,000. Institutional investors and hedge funds own 31.32% of the company’s stock.

Q32 Bio Price Performance

QTTB opened at $47.93 on Wednesday. The firm has a market cap of $572.38 million, a PE ratio of -1.47 and a beta of -0.32. The company has a current ratio of 6.49, a quick ratio of 6.49 and a debt-to-equity ratio of 0.37. The stock has a 50 day moving average price of $37.42. Q32 Bio has a 1-year low of $8.24 and a 1-year high of $53.79.

Q32 Bio (NASDAQ:QTTB) last released its quarterly earnings results on Thursday, August 8th. The company reported ($1.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.42). Research analysts expect that Q32 Bio will post -11.76 EPS 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.