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

Q32 Bio Inc. (NASDAQ:QTTB) has earned an average rating of “Moderate Buy” from the eight analysts that are covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $29.86.

QTTB has been the topic of several analyst reports. BMO Capital Markets lowered their price objective on Q32 Bio from $64.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Oppenheimer lowered their price target on Q32 Bio from $80.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 11th. Wells Fargo & Company reissued an “equal weight” rating and set a $16.00 price objective (down from $95.00) on shares of Q32 Bio in a report on Wednesday, December 11th. Leerink Partnrs lowered shares of Q32 Bio from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Finally, Leerink Partners reissued a “market perform” rating and set a $9.00 price target (down from $68.00) on shares of Q32 Bio in a report on Wednesday, December 11th.

Hedge Funds Weigh In On Q32 Bio

A number of large investors have recently modified their holdings of the stock. FMR LLC raised its position in Q32 Bio by 137.3% in the 3rd quarter. FMR LLC now owns 426,302 shares of the company’s stock worth $19,022,000 after purchasing an additional 246,664 shares during the last quarter. Eventide Asset Management LLC acquired a new stake in Q32 Bio in the third quarter worth about $8,478,000. Harvard Management Co. Inc. bought a new stake in Q32 Bio during the 2nd quarter worth about $2,925,000. Geode Capital Management LLC lifted its position in Q32 Bio by 22.4% during the 3rd quarter. Geode Capital Management LLC now owns 131,768 shares of the company’s stock valued at $5,881,000 after purchasing an additional 24,114 shares during the period. Finally, State Street Corp boosted its stake in shares of Q32 Bio by 35.5% in the 3rd quarter. State Street Corp now owns 110,164 shares of the company’s stock valued at $4,916,000 after purchasing an additional 28,865 shares during the last quarter. 31.32% of the stock is currently owned by institutional investors and hedge funds.

Q32 Bio Price Performance

Shares of QTTB stock opened at $3.34 on Friday. Q32 Bio has a 12 month low of $3.02 and a 12 month high of $53.79. The company has a market capitalization of $40.68 million, a P/E ratio of -0.23 and a beta of -0.46. The stock has a 50 day moving average of $33.43 and a two-hundred day moving average of $33.48. 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 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.