Q32 Bio Inc. (NASDAQ:QTTB) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Q32 Bio Inc. (NASDAQ:QTTB) have been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $31.00.

A number of equities analysts have recently weighed in on QTTB shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Q32 Bio in a research report on Wednesday, September 16th. HC Wainwright raised their price objective on Q32 Bio from $13.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Weiss Ratings raised Q32 Bio from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 21st. Mizuho upgraded Q32 Bio to a “strong-buy” rating in a report on Monday, September 7th. Finally, Morgan Stanley began coverage on Q32 Bio in a report on Monday, August 24th. They set an “overweight” rating and a $34.00 price objective on the stock.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Q32 Bio

Several institutional investors have recently added to or reduced their stakes in QTTB. Squarepoint Ops LLC bought a new position in Q32 Bio during the 2nd quarter worth about $303,000. Atlas Venture Life Science Advisors LLC lifted its holdings in shares of Q32 Bio by 29.9% in 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 purchasing an additional 625,000 shares in the last quarter. Susquehanna International Group LLP acquired a new position in shares of Q32 Bio during the second quarter worth about $297,000. Carlyle Group Inc. acquired a new position in shares of Q32 Bio during the second quarter worth about $769,000. Finally, BlackRock Inc. bought a new position in shares of Q32 Bio during the second quarter worth about $1,510,000. 31.32% of the stock is owned by institutional investors.

Q32 Bio Trading Down 3.6%

Q32 Bio stock opened at $9.22 on Friday. The firm has a market capitalization of $274.48 million, a P/E ratio of 3.07 and a beta of 0.21. Q32 Bio has a 1 year low of $1.79 and a 1 year high of $23.57. The business has a 50-day moving average of $14.04 and a 200-day moving average of $10.70.

Q32 Bio (NASDAQ:QTTB) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.02. Research analysts anticipate that Q32 Bio will post -1.54 EPS for the current fiscal year.

About Q32 Bio

Q32 Bio Inc is a clinical-stage biotechnology company focused on developing therapies for diseases associated with immune dysregulation. The company’s research is aimed at restoring balance in the immune system by targeting biological pathways involved in inflammation, tissue repair and immune regulation.

Q32 Bio’s lead product candidate is bempikibart, also known as ADX-914, a fully human monoclonal antibody designed to inhibit activin A signaling through the activin receptor type IIB pathway.