Shelia Violette Sells 2,798 Shares of Q32 Bio (NASDAQ:QTTB) Stock

Q32 Bio Inc. (NASDAQ:QTTB) insider Shelia Violette sold 2,798 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $16.56, for a total transaction of $46,334.88. Following the completion of the sale, the insider owned 127,771 shares of the company’s stock, valued at approximately $2,115,887.76. This trade represents a 2.14% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Q32 Bio Trading Down 6.9%

NASDAQ:QTTB opened at $15.03 on Friday. The business’s fifty day moving average price is $14.90 and its 200 day moving average price is $9.71. The firm has a market capitalization of $447.44 million, a price-to-earnings ratio of 5.01 and a beta of 0.23. Q32 Bio Inc. has a 1-year low of $1.62 and a 1-year high of $23.57.

Q32 Bio (NASDAQ:QTTB) last released its earnings results on Wednesday, August 5th. The company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($0.46) by $0.02. Equities analysts forecast that Q32 Bio Inc. will post -1.51 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on QTTB. HC Wainwright boosted their price objective on shares of Q32 Bio from $13.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Zacks Research lowered shares of Q32 Bio from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. Morgan Stanley assumed coverage on shares of Q32 Bio in a report on Monday. They set an “overweight” rating and a $34.00 price target on the stock. Mizuho began coverage on shares of Q32 Bio in a research note on Friday, May 22nd. They issued an “outperform” rating and a $14.00 price target on the stock. Finally, Cantor Fitzgerald assumed coverage on Q32 Bio in a report on Monday, May 18th. They set an “overweight” rating for the company. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Q32 Bio has an average rating of “Moderate Buy” and a consensus target price of $31.00.

Institutional Investors Weigh In On Q32 Bio

Several large investors have recently made changes to their positions in the company. Atlas Venture Life Science Advisors LLC raised its position in Q32 Bio by 29.9% during the second quarter. Atlas Venture Life Science Advisors LLC now owns 2,717,106 shares of the company’s stock valued at $34,616,000 after acquiring an additional 625,000 shares in the last quarter. Opaleye Management Inc. bought a new stake in Q32 Bio in the fourth quarter worth approximately $708,000. Renaissance Technologies LLC grew its position in Q32 Bio by 107.7% in the first quarter. Renaissance Technologies LLC now owns 206,915 shares of the company’s stock worth $1,328,000 after acquiring an additional 107,315 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Q32 Bio during the 2nd quarter worth $1,510,000. Finally, Geode Capital Management LLC increased its stake in shares of Q32 Bio by 19.9% during the 4th quarter. Geode Capital Management LLC now owns 106,113 shares of the company’s stock worth $352,000 after purchasing an additional 17,617 shares during the last quarter. 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.