Q32 Bio (NASDAQ:QTTB) Issues Quarterly Earnings Results

Q32 Bio (NASDAQ:QTTB) announced its quarterly earnings results on Wednesday. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.09, FiscalAI reports.

Q32 Bio Price Performance

Q32 Bio stock traded up $0.27 during midday trading on Wednesday, hitting $16.43. 528,224 shares of the company’s stock were exchanged, compared to its average volume of 782,198. The stock has a 50-day moving average price of $13.66 and a two-hundred day moving average price of $8.25. Q32 Bio has a 52-week low of $1.57 and a 52-week high of $23.57. The company has a market cap of $278.57 million, a P/E ratio of 6.17 and a beta of 0.23. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.36 and a current ratio of 5.36.

Wall Street Analyst Weigh In

QTTB has been the subject of a number of research reports. Weiss Ratings raised Q32 Bio from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Mizuho started coverage on shares of Q32 Bio in a research note on Friday, May 22nd. They issued an “outperform” rating and a $14.00 price objective for the company. Zacks Research lowered Q32 Bio from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. HC Wainwright lifted their price target on Q32 Bio from $13.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Finally, Oppenheimer lifted their target price on Q32 Bio from $20.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.00.

Insider Buying and Selling

In related news, Director Diyong Xu acquired 1,875,000 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was bought at an average cost of $8.00 per share, with a total value of $15,000,000.00. Following the acquisition, the director owned 3,502,987 shares of the company’s stock, valued at approximately $28,023,896. The trade was a 115.17% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Orbimed Advisors Llc acquired 1,875,000 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was purchased at an average price of $8.00 per share, with a total value of $15,000,000.00. Following the completion of the acquisition, the director directly owned 3,502,987 shares in the company, valued at approximately $28,023,896. This represents a 115.17% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 34.46% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of QTTB. HRT Financial LP lifted its holdings in Q32 Bio by 66.5% in the 4th quarter. HRT Financial LP now owns 24,698 shares of the company’s stock worth $81,000 after buying an additional 9,862 shares during the period. Marshall Wace LLP bought a new stake in shares of Q32 Bio during the 2nd quarter valued at about $25,000. Geode Capital Management LLC increased its stake 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 worth $352,000 after acquiring an additional 17,617 shares in the last quarter. ADAR1 Capital Management LLC bought a new position in shares of Q32 Bio during the fourth quarter valued at approximately $66,000. Finally, XTX Topco Ltd bought a new stake in shares of Q32 Bio in the 4th quarter worth approximately $68,000. 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.