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

Q32 Bio Inc. (NASDAQ:QTTB) has been assigned an average recommendation of “Buy” from the seven brokerages that are currently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $72.33.

Several brokerages recently commented on QTTB. 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. Raymond James began coverage on shares of Q32 Bio in a report on Thursday, October 24th. They issued a “strong-buy” rating and a $90.00 target price on the stock.

Institutional Trading of Q32 Bio

Hedge funds and other institutional investors have recently made changes to their positions in the business. Carlyle Group Inc. acquired a new position in Q32 Bio during the 1st quarter worth about $18,074,000. Atlas Venture Life Science Advisors LLC bought a new position in shares of Q32 Bio in the first quarter worth about $35,649,000. Vanguard Group Inc. acquired a new stake in shares of Q32 Bio in the first quarter valued at approximately $1,836,000. Acadian Asset Management LLC bought a new position in Q32 Bio in the 1st quarter worth approximately $62,000. Finally, Platinum Investment Management Ltd. acquired a new position in Q32 Bio during the 1st quarter worth $1,874,000. 31.32% of the stock is currently owned by institutional investors and hedge funds.

Q32 Bio Price Performance

Shares of Q32 Bio stock opened at $48.00 on Thursday. The firm has a market cap of $578.88 million, a P/E ratio of -2.08 and a beta of -0.32. The firm’s 50-day simple moving average is $45.84 and its 200-day simple moving average is $34.07. Q32 Bio has a twelve month low of $8.24 and a twelve month high of $53.79. The company has a debt-to-equity ratio of 0.37, a quick ratio of 6.49 and a current ratio of 6.49.

Q32 Bio (NASDAQ:QTTB) last released its quarterly earnings data 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). As a group, research analysts expect that Q32 Bio will post -12.13 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.