Q32 Bio (NASDAQ:QTTB) Announces Earnings Results

Q32 Bio (NASDAQ:QTTB) issued its quarterly earnings data on Thursday. The company reported ($1.46) EPS for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.05), reports.

Q32 Bio Stock Performance

NASDAQ:QTTB opened at $45.29 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 6.49 and a current ratio of 6.49. The stock has a market capitalization of $546.20 million, a PE ratio of -1.97 and a beta of -0.32. Q32 Bio has a fifty-two week low of $8.24 and a fifty-two week high of $53.79. The company has a fifty day moving average of $46.22 and a two-hundred day moving average of $34.41.

Institutional Trading of Q32 Bio

Several institutional investors have recently modified their holdings of QTTB. Values First Advisors Inc. acquired a new position in Q32 Bio in the 3rd quarter valued at $33,000. Acadian Asset Management LLC purchased a new stake in shares of Q32 Bio in the 1st quarter valued at approximately $62,000. Rhumbline Advisers lifted its holdings in shares of Q32 Bio by 11,681.5% in the 2nd quarter. Rhumbline Advisers now owns 7,658 shares of the company’s stock worth $137,000 after acquiring an additional 7,593 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Q32 Bio during the 2nd quarter worth approximately $265,000. Finally, Bank of New York Mellon Corp acquired a new stake in Q32 Bio in the 2nd quarter valued at approximately $315,000. Institutional investors and hedge funds own 31.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on QTTB shares. Wells Fargo & Company initiated coverage on shares of Q32 Bio in a report on Wednesday, September 11th. They set an “overweight” rating and a $95.00 price target on the stock. Raymond James began coverage on shares of Q32 Bio in a research note on Thursday, October 24th. They set a “strong-buy” rating and a $90.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Q32 Bio presently has an average rating of “Buy” and a consensus target price of $72.33.

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.