Q32 Bio Inc. (NASDAQ:QTTB) Given Average Recommendation of “Moderate Buy” by Analysts

Q32 Bio Inc. (NASDAQ:QTTB) has been given a consensus recommendation of “Moderate Buy” by the five research firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $13.50.

QTTB has been the subject of a number of research analyst reports. HC Wainwright restated a “buy” rating and set a $13.00 price objective on shares of Q32 Bio in a report on Tuesday, May 5th. Cantor Fitzgerald initiated coverage on Q32 Bio in a report on Monday, May 18th. They set an “overweight” rating for the company. 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. Finally, Mizuho began coverage on Q32 Bio in a report on Friday, May 22nd. They issued an “outperform” rating and a $14.00 price objective on the stock.

Q32 Bio Stock Performance

Shares of NASDAQ:QTTB traded down $1.38 on Friday, hitting $11.21. The company had a trading volume of 3,224,136 shares, compared to its average volume of 325,029. The stock has a market cap of $190.12 million, a price-to-earnings ratio of 4.21 and a beta of 0.24. The stock has a 50 day moving average price of $10.23 and a 200 day moving average price of $6.72. Q32 Bio has a 1-year low of $1.57 and a 1-year high of $15.02. The company has a current ratio of 5.36, a quick ratio of 5.36 and a debt-to-equity ratio of 0.04.

Q32 Bio (NASDAQ:QTTB) last posted its earnings results on Tuesday, May 5th. The company reported ($0.54) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.14. Analysts expect that Q32 Bio will post -1.96 EPS for the current year.

Insider Transactions at Q32 Bio

In other Q32 Bio news, Director Orbimed Advisors Llc bought 1,875,000 shares of Q32 Bio stock in a transaction dated Thursday, May 28th. The stock was bought at an average price of $8.00 per share, with a total value of $15,000,000.00. Following the completion of the transaction, the director owned 3,502,987 shares in the company, valued at $28,023,896. The trade was a 115.17% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Diyong Xu purchased 1,875,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was 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 directly owned 3,502,987 shares of the company’s stock, valued at $28,023,896. This represents a 115.17% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 34.46% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in QTTB. Opaleye Management Inc. acquired a new position in shares of Q32 Bio during the 4th quarter worth approximately $708,000. Renaissance Technologies LLC raised its position in shares of Q32 Bio by 107.7% in the first quarter. Renaissance Technologies LLC now owns 206,915 shares of the company’s stock valued at $1,328,000 after buying an additional 107,315 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Q32 Bio by 19.9% in the fourth 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 in the last quarter. Jane Street Group LLC bought a new stake in shares of Q32 Bio in the second quarter valued at approximately $69,000. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Q32 Bio by 140.9% in the first quarter. Goldman Sachs Group Inc. now owns 44,373 shares of the company’s stock valued at $73,000 after buying an additional 25,953 shares during the period. 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.