Q32 Bio Inc. (NASDAQ:QTTB) Receives $29.86 Consensus Price Target from Brokerages

Q32 Bio Inc. (NASDAQ:QTTB) has been assigned an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $29.86.

A number of research firms have recently commented on QTTB. Guggenheim cut shares of Q32 Bio from a “buy” rating to a “neutral” rating in a report on Wednesday, December 11th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $16.00 target price (down from $95.00) on shares of Q32 Bio in a research report on Wednesday, December 11th. Leerink Partners reissued a “market perform” rating and issued a $9.00 price objective (down previously from $68.00) on shares of Q32 Bio in a research note on Wednesday, December 11th. Oppenheimer reduced their price objective on Q32 Bio from $80.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th. Finally, Leerink Partnrs cut Q32 Bio from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th.

Q32 Bio Stock Performance

Shares of Q32 Bio stock opened at $3.58 on Friday. Q32 Bio has a 52 week low of $3.02 and a 52 week high of $53.79. The company has a market capitalization of $43.61 million, a PE ratio of -0.25 and a beta of -0.46. The stock’s fifty day moving average is $28.91 and its two-hundred day moving average is $32.76. The company has a quick ratio of 6.53, a current ratio of 6.53 and a debt-to-equity ratio of 0.61.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in QTTB. Values First Advisors Inc. bought a new stake in Q32 Bio during the third quarter valued at about $33,000. BNP Paribas Financial Markets boosted its holdings in shares of Q32 Bio by 199.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,298 shares of the company’s stock valued at $58,000 after buying an additional 864 shares in the last quarter. Rhumbline Advisers grew its position 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 buying an additional 7,593 shares during the last quarter. MetLife Investment Management LLC purchased a new position in shares of Q32 Bio in the 3rd quarter worth approximately $159,000. Finally, Franklin Resources Inc. bought a new position in shares of Q32 Bio during the 3rd quarter worth approximately $225,000. 31.32% of the stock is currently owned by hedge funds and other institutional investors.

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.