Q32 Bio (NASDAQ:QTTB) Earns Buy Rating from Analysts at Guggenheim

Guggenheim initiated coverage on shares of Q32 Bio (NASDAQ:QTTB) in a research report sent to investors on Monday, Marketbeat.com reports. The firm issued a buy rating and a $100.00 price objective on the stock.

A number of other brokerages have also recently commented on QTTB. Leerink Partnrs upgraded shares of Q32 Bio to a strong-buy rating in a research note on Tuesday, May 21st. SVB Leerink started coverage on shares of Q32 Bio in a research note on Tuesday, May 21st. They set an outperform rating and a $54.00 price target for the company. Oppenheimer assumed coverage on shares of Q32 Bio in a report on Thursday, April 11th. They set an outperform rating and a $50.00 price objective for the company. Finally, Piper Sandler assumed coverage on shares of Q32 Bio in a report on Tuesday, April 2nd. They set an overweight rating and a $45.00 price objective for the company. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Buy and a consensus target price of $62.25.

Q32 Bio Stock Performance

NASDAQ QTTB opened at $18.19 on Monday. The company has a current ratio of 4.19, a quick ratio of 4.19 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average of $25.50. Q32 Bio has a twelve month low of $8.24 and a twelve month high of $32.88. The company has a market capitalization of $217.19 million, a PE ratio of -0.56 and a beta of -0.30.

Q32 Bio (NASDAQ:QTTB) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($13.15) EPS for the quarter, missing analysts’ consensus estimates of ($1.42) by ($11.73). Research analysts forecast that Q32 Bio will post -10.74 earnings per share for the current fiscal year.

Institutional Trading of Q32 Bio

Hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC acquired a new stake in shares of Q32 Bio in the first quarter valued at approximately $62,000. Ikarian Capital LLC acquired a new stake in Q32 Bio during the 1st quarter worth $381,000. BML Capital Management LLC acquired a new stake in Q32 Bio during the 1st quarter worth $424,000. Affinity Asset Advisors LLC acquired a new stake in Q32 Bio during the 1st quarter worth $473,000. Finally, Vanguard Group Inc. acquired a new stake in Q32 Bio during the 1st quarter worth $1,836,000. Institutional investors and hedge funds own 31.32% of the company’s stock.

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.