Q32 Bio (NASDAQ:QTTB) Price Target Lowered to $15.00 at Wells Fargo & Company

Q32 Bio (NASDAQ:QTTB) had its price objective decreased by Wells Fargo & Company from $16.00 to $15.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock.

Several other analysts have also recently issued reports on the stock. Leerink Partnrs cut shares of Q32 Bio from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Raymond James reiterated an “outperform” rating and issued a $22.00 price objective (down previously from $90.00) on shares of Q32 Bio in a research report on Wednesday, December 11th. BMO Capital Markets cut Q32 Bio from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $22.00 to $3.00 in a research report on Tuesday, February 11th. Guggenheim downgraded Q32 Bio from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 11th. Finally, Oppenheimer cut their price objective on Q32 Bio from $80.00 to $20.00 and set an “outperform” rating for the company in a 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 company’s stock. According to MarketBeat.com, Q32 Bio currently has an average rating of “Hold” and a consensus price target of $24.71.

Q32 Bio Stock Performance

Shares of Q32 Bio stock traded down $0.04 during trading hours on Wednesday, reaching $1.86. The company had a trading volume of 207,822 shares, compared to its average volume of 174,738. The company has a debt-to-equity ratio of 0.61, a current ratio of 6.53 and a quick ratio of 6.53. Q32 Bio has a one year low of $1.85 and a one year high of $53.79. The firm has a market cap of $22.66 million, a PE ratio of -0.13 and a beta of -0.27. The business has a fifty day simple moving average of $2.93 and a 200 day simple moving average of $23.59.

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

Institutional Trading of Q32 Bio

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Acorn Capital Advisors LLC bought a new stake in shares of Q32 Bio in the 4th quarter worth approximately $2,764,000. Monaco Asset Management SAM bought a new stake in Q32 Bio in the fourth quarter worth $1,977,000. FMR LLC boosted its position in Q32 Bio by 137.3% during the third quarter. FMR LLC now owns 426,302 shares of the company’s stock valued at $19,022,000 after buying an additional 246,664 shares during the period. Sanofi purchased a new stake in Q32 Bio during the fourth quarter valued at about $840,000. Finally, Eventide Asset Management LLC bought a new position in shares of Q32 Bio during the third quarter valued at about $8,478,000. Hedge funds and other institutional investors own 31.32% of the company’s stock.

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.