Q32 Bio (NASDAQ:QTTB) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Q32 Bio (NASDAQ:QTTB) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Q32 Bio in a research note on Tuesday, October 14th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.17.

Q32 Bio Stock Up 5.0%

Shares of NASDAQ QTTB opened at $3.33 on Friday. Q32 Bio has a twelve month low of $1.35 and a twelve month high of $53.17. The stock’s 50 day moving average price is $2.16 and its 200-day moving average price is $1.93. The company has a market capitalization of $40.63 million, a PE ratio of -0.77 and a beta of 0.11.

Q32 Bio (NASDAQ:QTTB) last announced its earnings results on Wednesday, August 6th. The company reported ($0.78) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.14) by $0.36. As a group, research analysts expect that Q32 Bio will post -12.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Q32 Bio

Several institutional investors have recently bought and sold shares of the company. Monaco Asset Management SAM lifted its stake in Q32 Bio by 17.1% in the second quarter. Monaco Asset Management SAM now owns 591,937 shares of the company’s stock valued at $882,000 after purchasing an additional 86,486 shares during the last quarter. Nuveen LLC purchased a new position in Q32 Bio in the first quarter valued at approximately $92,000. Jane Street Group LLC purchased a new position in Q32 Bio in the second quarter valued at approximately $69,000. Goldman Sachs Group Inc. lifted its stake in Q32 Bio by 140.9% in the first quarter. Goldman Sachs Group Inc. now owns 44,373 shares of the company’s stock valued at $73,000 after purchasing an additional 25,953 shares during the last quarter. Finally, AQR Capital Management LLC purchased a new position in Q32 Bio in the first quarter valued at approximately $68,000. Hedge funds and other 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.