Harvard Management Co. Inc. Makes New Investment in Q32 Bio Inc. (NASDAQ:QTTB)

Harvard Management Co. Inc. purchased a new stake in Q32 Bio Inc. (NASDAQ:QTTB) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 162,965 shares of the company’s stock, valued at approximately $2,925,000. Q32 Bio comprises approximately 0.2% of Harvard Management Co. Inc.’s investment portfolio, making the stock its 14th largest holding. Harvard Management Co. Inc. owned approximately 1.36% of Q32 Bio as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Rhumbline Advisers increased 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 purchasing an additional 7,593 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Q32 Bio in the 2nd quarter valued at $315,000. Ikarian Capital LLC acquired a new stake in shares of Q32 Bio during the 1st quarter valued at $381,000. ARCH Venture Management LLC bought a new stake in Q32 Bio during the 1st quarter worth $5,461,000. Finally, Affinity Asset Advisors LLC acquired a new position in Q32 Bio in the 1st quarter worth about $473,000. Institutional investors and hedge funds own 31.32% of the company’s stock.

Analyst Ratings Changes

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

Q32 Bio Stock Up 1.5 %

Shares of QTTB opened at $46.15 on Monday. The stock has a fifty day moving average price of $36.35. Q32 Bio Inc. has a 12-month low of $8.24 and a 12-month high of $53.79. 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 company has a market cap of $551.12 million, a PE ratio of -1.42 and a beta of -0.32.

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). On average, analysts expect that Q32 Bio Inc. will post -11.76 EPS for the current 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.