Q32 Bio Inc. (QTTB) – What Are Researchers Thinking About This Stock?

Shares of Q32 Bio Inc. (NASDAQ:QTTB) have been given a consensus rating of “Moderate Buy” by the nine research firms that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $32.17.

Several equities research analysts recently weighed in on the stock. Oppenheimer restated an “outperform” rating on shares of Q32 Bio in a research report on Thursday, October 1st. Leerink Partners started coverage on shares of Q32 Bio in a research report on Monday, October 12th. They set an “outperform” rating and a $40.00 price objective for the company. Jefferies Financial Group started coverage on shares of Q32 Bio in a research note on Monday, September 28th. They issued a “buy” rating and a $29.00 price objective for the company. Weiss Ratings upgraded shares of Q32 Bio from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 21st. Finally, Mizuho upgraded shares of Q32 Bio to a “strong-buy” rating in a report on Monday, September 7th.

Q32 Bio Price Performance

NASDAQ QTTB opened at $8.45 on Tuesday. Q32 Bio has a 1-year low of $1.90 and a 1-year high of $23.57. The business has a 50 day simple moving average of $11.13 and a two-hundred day simple moving average of $9.09. The stock has a market capitalization of $251.56 million, a PE ratio of 4.18 and a beta of 0.31.

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, topping the consensus estimate of ($0.46) by $0.02. On average, analysts anticipate that Q32 Bio will post -1.54 EPS for the current fiscal year.

Insider Activity at Q32 Bio

In other Q32 Bio news, CEO Jodie Morrison sold 9,845 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $16.56, for a total transaction of $163,033.20. Following the sale, the chief executive officer directly owned 343,259 shares of the company’s stock, valued at $5,684,369.04. The trade was a 2.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available 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 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 value of $65,776.32. Following the sale, the chief financial officer owned 138,471 shares in the company, valued at approximately $2,293,079.76. This trade 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 sold 22,054 shares of company stock valued at $320,397. Insiders own 34.46% of the company’s stock.

Institutional Investors Weigh In On Q32 Bio

Several institutional investors have recently modified their holdings of QTTB. Renaissance Technologies LLC raised its stake in shares of Q32 Bio by 107.7% in the first quarter. Renaissance Technologies LLC now owns 206,915 shares of the company’s stock valued at $1,328,000 after acquiring an additional 107,315 shares during the period. BlackRock Inc. bought a new stake in shares of Q32 Bio in the 2nd quarter worth about $1,510,000. Atlas Venture Life Science Advisors LLC lifted its holdings in shares of Q32 Bio by 29.9% in the 2nd quarter. Atlas Venture Life Science Advisors LLC now owns 2,717,106 shares of the company’s stock worth $34,616,000 after acquiring an additional 625,000 shares during the last quarter. Carlyle Group Inc. purchased a new position in shares of Q32 Bio during the 2nd quarter worth about $769,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Q32 Bio during the 2nd quarter worth about $303,000. 31.32% of the stock is owned by institutional investors.

About Q32 Bio

Q32 Bio Inc (NASDAQ: QTTB) is a clinical-stage biotechnology company focused on developing biologic therapies for diseases associated with immune-system dysfunction. The company’s research programs are designed to restore immune balance rather than broadly suppress immune activity.

Q32 Bio’s lead product candidate is bempikibart, formerly known as ADX-914, a fully human monoclonal antibody that targets activin receptor type IIA (ActRIIA). The company has evaluated bempikibart in inflammatory and autoimmune conditions, including atopic dermatitis and alopecia areata.

The company also has pursued additional immunology programs, including therapies intended to address complement-mediated disease.