Q32 Bio Inc. (NASDAQ:QTTB) Short Interest Update

Q32 Bio Inc. (NASDAQ:QTTB) was the recipient of a large decrease in short interest in February. As of February 28th, there was short interest totalling 1,030,000 shares, a decrease of 21.4% from the February 13th total of 1,310,000 shares. Based on an average trading volume of 411,900 shares, the days-to-cover ratio is presently 2.5 days. Approximately 23.4% of the company’s stock are short sold.

Hedge Funds Weigh In On Q32 Bio

Several large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its holdings in Q32 Bio by 199.1% in the third quarter. BNP Paribas Financial Markets now owns 1,298 shares of the company’s stock worth $58,000 after buying an additional 864 shares during the last quarter. MetLife Investment Management LLC bought a new stake in Q32 Bio in the 3rd quarter worth approximately $159,000. Franklin Resources Inc. purchased a new stake in Q32 Bio during the 3rd quarter valued at $225,000. Barclays PLC raised its stake in Q32 Bio by 105.2% during the 3rd quarter. Barclays PLC now owns 10,443 shares of the company’s stock valued at $465,000 after buying an additional 5,353 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Q32 Bio during the 4th quarter valued at $26,000. Hedge funds and other institutional investors own 31.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on QTTB shares. Raymond James reaffirmed an “outperform” rating and issued a $22.00 price objective (down from $90.00) on shares of Q32 Bio in a research report on Wednesday, December 11th. Wells Fargo & Company reduced their price objective on Q32 Bio from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 12th. BMO Capital Markets lowered shares of Q32 Bio from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $22.00 to $3.00 in a research report on Tuesday, February 11th. Guggenheim downgraded shares of Q32 Bio from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 11th. Finally, Oppenheimer dropped their price target on Q32 Bio from $80.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 11th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Q32 Bio presently has a consensus rating of “Hold” and an average target price of $24.71.

Q32 Bio Price Performance

Q32 Bio stock traded up $0.04 during midday trading on Wednesday, hitting $2.18. 38,052 shares of the company’s stock were exchanged, compared to its average volume of 173,926. The stock has a 50-day moving average price of $2.77 and a two-hundred day moving average price of $22.27. Q32 Bio has a 52-week low of $1.80 and a 52-week high of $53.79. The company has a market cap of $26.53 million, a P/E ratio of -0.15 and a beta of -0.27. The company has a debt-to-equity ratio of 0.61, a quick ratio of 6.53 and a current ratio of 6.53.

Q32 Bio (NASDAQ:QTTB) last posted its quarterly earnings results on Tuesday, March 11th. The company reported ($1.16) earnings per share for the quarter, topping the consensus estimate of ($1.25) by $0.09. On average, equities research analysts forecast that Q32 Bio will post -12.32 earnings per share for the current year.

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.