Short Interest in Q32 Bio Inc. (NASDAQ:QTTB) Rises By 55.8%

Q32 Bio Inc. (NASDAQ:QTTB) saw a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 1,120,000 shares, a growth of 55.8% from the November 30th total of 719,100 shares. Based on an average daily volume of 279,800 shares, the short-interest ratio is presently 4.0 days. Currently, 24.2% of the company’s shares are sold short.

Wall Street Analyst Weigh In

QTTB has been the subject of several analyst reports. Oppenheimer dropped their price target on shares of Q32 Bio from $80.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, December 11th. Leerink Partnrs cut Q32 Bio from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $16.00 price target (down previously from $95.00) on shares of Q32 Bio in a research note on Wednesday, December 11th. Raymond James reissued an “outperform” rating and set a $22.00 price objective (down from $90.00) on shares of Q32 Bio in a research report on Wednesday, December 11th. Finally, Leerink Partners reaffirmed a “market perform” rating and issued a $9.00 target price (down previously from $68.00) on shares of Q32 Bio in a research report on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $29.86.

Institutional Investors Weigh In On Q32 Bio

Hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp purchased a new stake in shares of Q32 Bio during the second quarter worth $315,000. Rhumbline Advisers grew its stake 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. Harvard Management Co. Inc. purchased a new stake in Q32 Bio during the 2nd quarter worth about $2,925,000. Renaissance Technologies LLC acquired a new stake in Q32 Bio in the 2nd quarter valued at about $265,000. Finally, Ensign Peak Advisors Inc boosted its stake in shares of Q32 Bio by 150.6% in the 2nd quarter. Ensign Peak Advisors Inc now owns 64,481 shares of the company’s stock valued at $1,157,000 after buying an additional 38,750 shares during the period. 31.32% of the stock is currently owned by institutional investors and hedge funds.

Q32 Bio Stock Down 6.1 %

Shares of QTTB traded down $0.22 during mid-day trading on Friday, hitting $3.36. 405,248 shares of the company’s stock were exchanged, compared to its average volume of 123,938. The stock’s 50-day moving average is $28.00 and its 200-day moving average is $32.64. The company has a debt-to-equity ratio of 0.61, a quick ratio of 6.53 and a current ratio of 6.53. Q32 Bio has a fifty-two week low of $3.02 and a fifty-two week high of $53.79. The company has a market cap of $40.93 million, a price-to-earnings ratio of -0.24 and a beta of -0.46.

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.