Q32 Bio (NASDAQ:QTTB) Raised to “Strong-Buy” at Mizuho

Q32 Bio (NASDAQ:QTTB) was upgraded by stock analysts at Mizuho to a “strong-buy” rating in a research report issued on Monday, Zacks reports.

Other research analysts have also recently issued research reports about the stock. Zacks Research cut shares of Q32 Bio from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Cantor Fitzgerald started coverage on Q32 Bio in a research report on Monday, May 18th. They set an “overweight” rating for the company. Weiss Ratings upgraded Q32 Bio from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 21st. HC Wainwright raised their price target on Q32 Bio from $13.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Finally, Morgan Stanley started coverage on Q32 Bio in a research report on Monday, August 24th. They set an “overweight” rating and a $34.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.00.

Q32 Bio Trading Down 2.5%

Shares of NASDAQ:QTTB opened at $11.69 on Monday. The company has a 50 day moving average of $14.97 and a 200 day moving average of $10.20. The stock has a market cap of $348.00 million, a P/E ratio of 3.90 and a beta of 0.21. Q32 Bio has a 12 month low of $1.69 and a 12 month high of $23.57.

Q32 Bio (NASDAQ:QTTB) last posted its earnings results on Wednesday, August 5th. The company reported ($0.44) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.02. On average, equities analysts forecast that Q32 Bio will post -1.51 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Jodie Morrison sold 9,845 shares of Q32 Bio stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $16.56, for a total transaction of $163,033.20. Following the completion of the sale, the chief executive officer directly owned 343,259 shares of the company’s stock, valued at approximately $5,684,369.04. The trade was a 2.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Lee Kalowski sold 3,972 shares of Q32 Bio stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $16.56, for a total transaction of $65,776.32. Following the sale, the chief financial officer directly owned 138,471 shares of the company’s stock, valued at $2,293,079.76. This represents a 2.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 16,615 shares of company stock worth $275,144. 34.46% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Q32 Bio

A number of large investors have recently added to or reduced their stakes in the company. Marshall Wace LLP bought a new stake in Q32 Bio during the second quarter worth about $25,000. Acadian Asset Management LLC bought a new position in shares of Q32 Bio during the 1st quarter valued at about $50,000. Two Sigma Investments LP bought a new position in shares of Q32 Bio during the 3rd quarter valued at about $62,000. ADAR1 Capital Management LLC purchased a new position in shares of Q32 Bio during the 4th quarter valued at about $66,000. Finally, XTX Topco Ltd purchased a new position in shares of Q32 Bio during the 4th quarter valued at about $68,000. Hedge funds and other institutional investors 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.