Insider Buying: Q32 Bio (NASDAQ:QTTB) Director Buys 1,875,000 Shares of Stock

Q32 Bio Inc. (NASDAQ:QTTB) Director Diyong Xu bought 1,875,000 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were acquired at an average price of $8.00 per share, for a total transaction of $15,000,000.00. Following the completion of the purchase, the director owned 3,502,987 shares in the company, valued at $28,023,896. The trade was a 115.17% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Q32 Bio Stock Up 5.5%

QTTB stock traded up $0.61 on Monday, hitting $11.66. 1,071,257 shares of the company’s stock were exchanged, compared to its average volume of 1,395,783. Q32 Bio Inc. has a 12-month low of $1.35 and a 12-month high of $13.15. The firm has a 50 day moving average price of $6.45 and a two-hundred day moving average price of $4.72. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.36 and a current ratio of 5.36. The stock has a market cap of $197.75 million, a P/E ratio of 4.38 and a beta of 0.26.

Q32 Bio (NASDAQ:QTTB) last announced its earnings results on Tuesday, May 5th. The company reported ($0.54) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.14. As a group, equities research analysts expect that Q32 Bio Inc. will post -1.96 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on QTTB shares. Zacks Research downgraded Q32 Bio from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. Weiss Ratings upgraded Q32 Bio from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Mizuho began coverage on Q32 Bio in a research note on Friday, May 22nd. They set an “outperform” rating and a $14.00 target price on the stock. Cantor Fitzgerald began coverage on Q32 Bio in a research note on Monday, May 18th. They set an “overweight” rating on the stock. Finally, HC Wainwright reiterated a “buy” rating and set a $13.00 price target on shares of Q32 Bio in a research note on Tuesday, May 5th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Q32 Bio currently has a consensus rating of “Moderate Buy” and an average price target of $13.50.

Hedge Funds Weigh In On Q32 Bio

Several institutional investors and hedge funds have recently modified their holdings of the stock. HRT Financial LP lifted its holdings in shares of Q32 Bio by 66.5% in the 4th quarter. HRT Financial LP now owns 24,698 shares of the company’s stock valued at $81,000 after buying an additional 9,862 shares during the period. ADAR1 Capital Management LLC lifted its holdings in shares of Q32 Bio by 75.0% in the 1st quarter. ADAR1 Capital Management LLC now owns 35,000 shares of the company’s stock valued at $225,000 after buying an additional 15,000 shares during the period. Marshall Wace LLP acquired a new position in shares of Q32 Bio in the 2nd quarter valued at about $25,000. Geode Capital Management LLC lifted its holdings in shares of Q32 Bio by 19.9% in the 4th quarter. Geode Capital Management LLC now owns 106,113 shares of the company’s stock valued at $352,000 after buying an additional 17,617 shares during the period. Finally, XTX Topco Ltd acquired a new position in shares of Q32 Bio in the 4th quarter valued at about $68,000. Institutional investors and hedge funds own 31.32% of the company’s stock.

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.