Short Interest in Q32 Bio Inc. (NASDAQ:QTTB) Expands By 16.4%

Q32 Bio Inc. (NASDAQ:QTTB) was the recipient of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 364,600 shares, an increase of 16.4% from the August 15th total of 313,100 shares. Based on an average daily volume of 108,100 shares, the short-interest ratio is presently 3.4 days. Currently, 8.6% of the shares of the company are sold short.

Q32 Bio Stock Performance

Shares of Q32 Bio stock traded up $0.87 on Tuesday, hitting $45.85. The company’s stock had a trading volume of 6,284 shares, compared to its average volume of 62,036. The firm has a market cap of $547.54 million, a P/E ratio of -1.38 and a beta of -0.32. Q32 Bio has a 1 year low of $8.24 and a 1 year high of $53.79. The company has a quick ratio of 6.49, a current ratio of 6.49 and a debt-to-equity ratio of 0.37. The firm’s fifty day moving average is $36.87.

Q32 Bio (NASDAQ:QTTB) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($1.42) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.42). As a group, analysts forecast that Q32 Bio will post -11.76 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of QTTB. Carlyle Group Inc. purchased a new position in Q32 Bio during the first quarter worth approximately $18,074,000. Atlas Venture Life Science Advisors LLC acquired a new stake in shares of Q32 Bio in the first quarter valued at $35,649,000. Vanguard Group Inc. purchased a new stake in shares of Q32 Bio in the 1st quarter valued at $1,836,000. Acadian Asset Management LLC acquired a new position in Q32 Bio during the 1st quarter worth about $62,000. Finally, Platinum Investment Management Ltd. purchased a new position in Q32 Bio during the 1st quarter valued at about $1,874,000. 31.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on QTTB shares. Guggenheim assumed coverage on shares of Q32 Bio in a report on Monday, June 17th. They issued a “buy” rating and a $100.00 price target on the stock. Wells Fargo & Company began coverage on Q32 Bio in a report on Wednesday, September 11th. They set an “overweight” rating and a $95.00 target price on the stock. Leerink Partners started coverage on Q32 Bio in a report on Tuesday, May 21st. They issued an “outperform” rating and a $54.00 price target for the company. Finally, Leerink Partnrs upgraded Q32 Bio to a “strong-buy” rating in a research report on Tuesday, May 21st. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $68.80.

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.