Eventide Asset Management LLC Buys Shares of 190,000 Q32 Bio Inc. (NASDAQ:QTTB)

Eventide Asset Management LLC purchased a new stake in shares of Q32 Bio Inc. (NASDAQ:QTTB) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 190,000 shares of the company’s stock, valued at approximately $8,478,000. Eventide Asset Management LLC owned 1.56% of Q32 Bio as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Values First Advisors Inc. bought a new stake in Q32 Bio during the 3rd quarter worth approximately $33,000. BNP Paribas Financial Markets grew its position in shares of Q32 Bio by 199.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,298 shares of the company’s stock valued at $58,000 after purchasing an additional 864 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Q32 Bio by 11,681.5% in the second quarter. Rhumbline Advisers now owns 7,658 shares of the company’s stock worth $137,000 after purchasing an additional 7,593 shares during the period. MetLife Investment Management LLC purchased a new stake in shares of Q32 Bio in the third quarter worth $159,000. Finally, Renaissance Technologies LLC bought a new stake in Q32 Bio during the second quarter valued at $265,000. 31.32% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Q32 Bio Price Performance

Shares of Q32 Bio stock opened at $26.91 on Friday. The business’s 50-day moving average price is $41.86 and its 200-day moving average price is $34.85. The firm has a market capitalization of $327.76 million, a PE ratio of -1.89 and a beta of -0.32. Q32 Bio Inc. has a 12 month low of $9.36 and a 12 month high of $53.79. The company has a current ratio of 6.53, a quick ratio of 6.53 and a debt-to-equity ratio of 0.61.

Q32 Bio 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.