Harvard Management Co. Inc. Invests $2.93 Million in Q32 Bio Inc. (NASDAQ:QTTB)

Harvard Management Co. Inc. purchased a new stake in shares of Q32 Bio Inc. (NASDAQ:QTTB) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 162,965 shares of the company’s stock, valued at approximately $2,925,000. Q32 Bio makes up about 0.2% of Harvard Management Co. Inc.’s investment portfolio, making the stock its 14th largest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new position in Q32 Bio in the 1st quarter valued at $62,000. Rhumbline Advisers increased its holdings in Q32 Bio by 11,681.5% during the second quarter. Rhumbline Advisers now owns 7,658 shares of the company’s stock worth $137,000 after buying an additional 7,593 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Q32 Bio in the second quarter worth about $315,000. Ikarian Capital LLC purchased a new position in Q32 Bio in the first quarter valued at about $381,000. Finally, Affinity Asset Advisors LLC bought a new position in shares of Q32 Bio during the 1st quarter valued at approximately $473,000. 31.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on QTTB shares. Leerink Partnrs raised Q32 Bio to a “strong-buy” rating in a research report on Tuesday, May 21st. Leerink Partners initiated coverage on Q32 Bio in a report on Tuesday, May 21st. They issued an “outperform” rating and a $54.00 price objective for the company. Wells Fargo & Company began coverage on shares of Q32 Bio in a report on Wednesday, September 11th. They set an “overweight” rating and a $95.00 price objective on the stock. Finally, Guggenheim began coverage on shares of Q32 Bio in a research report on Monday, June 17th. They issued a “buy” rating and a $100.00 price target on the stock. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $68.80.

Q32 Bio Stock Performance

Q32 Bio stock opened at $46.15 on Monday. The company has a current ratio of 6.49, a quick ratio of 6.49 and a debt-to-equity ratio of 0.37. Q32 Bio Inc. has a fifty-two week low of $8.24 and a fifty-two week high of $53.79. The company has a market capitalization of $551.12 million, a PE ratio of -1.42 and a beta of -0.32. The stock has a fifty day moving average price of $36.35.

Q32 Bio (NASDAQ:QTTB) last announced its earnings results on Thursday, August 8th. The company reported ($1.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.42). Sell-side analysts predict that Q32 Bio Inc. will post -11.76 earnings per share for the current year.

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.