Oppenheimer Cuts Q32 Bio (NASDAQ:QTTB) Price Target to $20.00

Q32 Bio (NASDAQ:QTTB) had its price target decreased by analysts at Oppenheimer from $80.00 to $20.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s target price would indicate a potential downside of 18.07% from the company’s current price.

Several other research firms have also recently issued reports on QTTB. Leerink Partners reaffirmed a “market perform” rating and set a $9.00 price objective (down from $68.00) on shares of Q32 Bio in a research report on Wednesday. Raymond James reiterated an “outperform” rating and issued a $22.00 price target (down from $90.00) on shares of Q32 Bio in a research note on Wednesday. Wells Fargo & Company restated an “equal weight” rating and set a $16.00 price objective (down previously from $95.00) on shares of Q32 Bio in a research report on Wednesday. BMO Capital Markets assumed coverage on shares of Q32 Bio in a report on Friday, December 6th. They issued an “outperform” rating and a $64.00 target price for the company. Finally, Piper Sandler cut their price target on shares of Q32 Bio from $85.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Q32 Bio currently has an average rating of “Moderate Buy” and an average price target of $35.86.

Q32 Bio Price Performance

Q32 Bio stock opened at $24.41 on Wednesday. The stock has a market cap of $297.34 million, a P/E ratio of -1.71 and a beta of -0.46. The company has a fifty day simple moving average of $39.13 and a 200-day simple moving average of $34.69. The company has a current ratio of 6.53, a quick ratio of 6.53 and a debt-to-equity ratio of 0.61. Q32 Bio has a 12-month low of $9.54 and a 12-month high of $53.79.

Institutional Trading of Q32 Bio

A number of large investors have recently bought and sold shares of the business. Values First Advisors Inc. acquired a new position in Q32 Bio in the third quarter valued at $33,000. BNP Paribas Financial Markets grew its holdings in shares of Q32 Bio by 199.1% during the third quarter. BNP Paribas Financial Markets now owns 1,298 shares of the company’s stock worth $58,000 after buying an additional 864 shares during the last quarter. MetLife Investment Management LLC acquired a new position in Q32 Bio in the 3rd quarter valued at about $159,000. Franklin Resources Inc. purchased a new stake in Q32 Bio during the 3rd quarter valued at approximately $225,000. Finally, Rhumbline Advisers lifted its position in 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 acquiring an additional 7,593 shares during the period. Institutional investors and hedge funds own 31.32% of the company’s stock.

Q32 Bio Company Profile

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.