Q32 Bio Inc. (NASDAQ:QTTB) Sees Large Drop in Short Interest

Q32 Bio Inc. (NASDAQ:QTTB) was the recipient of a large decrease in short interest in the month of December. As of December 31st, there was short interest totaling 282,006 shares, a decrease of 34.2% from the December 15th total of 428,900 shares. Based on an average daily trading volume, of 166,051 shares, the short-interest ratio is currently 1.7 days. Currently, 3.8% of the company’s stock are short sold. Currently, 3.8% of the company’s stock are short sold. Based on an average daily trading volume, of 166,051 shares, the short-interest ratio is currently 1.7 days.

Wall Street Analysts Forecast Growth

QTTB has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Q32 Bio in a report on Friday, January 9th. Wall Street Zen raised Q32 Bio from a “sell” rating to a “hold” rating in a research report on Sunday, October 26th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $7.33.

Q32 Bio Stock Performance

NASDAQ QTTB remained flat at $3.60 during trading hours on Friday. 104,964 shares of the company’s stock traded hands, compared to its average volume of 139,805. The firm has a fifty day moving average of $2.97 and a 200 day moving average of $2.46. The stock has a market cap of $44.28 million, a P/E ratio of -1.05 and a beta of 0.13. Q32 Bio has a one year low of $1.35 and a one year high of $6.37.

Q32 Bio (NASDAQ:QTTB) last posted its earnings results on Thursday, November 13th. The company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($1.39) by $0.79. On average, sell-side analysts predict that Q32 Bio will post -12.32 earnings per share for the current year.

Insider Activity at Q32 Bio

In other Q32 Bio news, CEO Jodie Pope Morrison sold 22,506 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $3.46, for a total value of $77,870.76. Following the completion of the transaction, the chief executive officer owned 99,000 shares in the company, valued at $342,540. The trade was a 18.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Lee Kalowski sold 9,072 shares of the company’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $3.46, for a total value of $31,389.12. Following the sale, the chief financial officer directly owned 39,938 shares in the company, valued at $138,185.48. This represents a 18.51% decrease in their position. The SEC filing for this sale provides additional information. 40.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Q32 Bio

Several large investors have recently modified their holdings of QTTB. Monaco Asset Management SAM grew its position in shares of Q32 Bio by 17.1% during the second quarter. Monaco Asset Management SAM now owns 591,937 shares of the company’s stock worth $882,000 after acquiring an additional 86,486 shares during the last quarter. Jane Street Group LLC acquired a new stake in Q32 Bio during the 2nd quarter worth $69,000. AQR Capital Management LLC purchased a new position in Q32 Bio during the 1st quarter worth $68,000. Two Sigma Investments LP purchased a new position in Q32 Bio during the 3rd quarter worth $62,000. Finally, Acadian Asset Management LLC acquired a new position in Q32 Bio in the first quarter valued at $50,000. 31.32% of the stock is owned by institutional investors and hedge funds.

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.