Q32 Bio (NASDAQ:QTTB) Shares Down 3.6% – Time to Sell?

Shares of Q32 Bio Inc. (NASDAQ:QTTB) traded down 3.6% on Monday . The company traded as low as $48.65 and last traded at $48.76. 30,591 shares were traded during trading, a decline of 54% from the average session volume of 67,140 shares. The stock had previously closed at $50.59.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Wells Fargo & Company assumed 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. Raymond James assumed coverage on Q32 Bio in a report on Thursday. They issued a “strong-buy” rating and a $90.00 price objective on the stock. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Q32 Bio has a consensus rating of “Buy” and an average target price of $72.33.

Q32 Bio Trading Down 7.6 %

The business has a 50-day moving average price of $44.69 and a two-hundred day moving average price of $32.99. The stock has a market capitalization of $563.68 million, a P/E ratio of -2.20 and a beta of -0.32. The company has a current ratio of 6.49, a quick ratio of 6.49 and a debt-to-equity ratio of 0.37.

Q32 Bio (NASDAQ:QTTB) last released its earnings results 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 fiscal year.

Institutional Trading of Q32 Bio

A number of institutional investors have recently modified their holdings of QTTB. Carlyle Group Inc. bought a new stake in shares of Q32 Bio during the 1st quarter valued at $18,074,000. Atlas Venture Life Science Advisors LLC bought a new stake in shares of Q32 Bio during the 1st quarter worth $35,649,000. Vanguard Group Inc. bought a new stake in shares of Q32 Bio during the 1st quarter worth $1,836,000. Acadian Asset Management LLC bought a new stake in shares of Q32 Bio during the 1st quarter worth $62,000. Finally, Platinum Investment Management Ltd. bought a new stake in shares of Q32 Bio during the 1st quarter worth $1,874,000. 31.32% of the stock is currently owned by institutional investors.

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.