Q32 Bio (NASDAQ:QTTB) Cut to Market Perform at BMO Capital Markets

BMO Capital Markets cut shares of Q32 Bio (NASDAQ:QTTB) from an outperform rating to a market perform rating in a research report released on Tuesday, Marketbeat.com reports. The firm currently has $3.00 target price on the stock, down from their prior target price of $22.00.

Several other research analysts have also issued reports on QTTB. Leerink Partners reaffirmed a “market perform” rating and set a $9.00 target price (down from $68.00) on shares of Q32 Bio in a research report on Wednesday, December 11th. Raymond James reaffirmed an “outperform” rating and set a $22.00 target price (down from $90.00) on shares of Q32 Bio in a research report on Wednesday, December 11th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $16.00 target price (down from $95.00) on shares of Q32 Bio in a research report on Wednesday, December 11th. Oppenheimer reduced their target price on Q32 Bio from $80.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 11th. Finally, Guggenheim lowered Q32 Bio from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 11th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $24.86.

Q32 Bio Trading Up 0.8 %

Shares of NASDAQ:QTTB opened at $2.68 on Tuesday. The business’s 50-day moving average is $5.04 and its 200 day moving average is $28.35. Q32 Bio has a 1 year low of $2.58 and a 1 year high of $53.79. The firm has a market capitalization of $32.64 million, a P/E ratio of -0.19 and a beta of -0.32. The company has a debt-to-equity ratio of 0.61, a current ratio of 6.53 and a quick ratio of 6.53.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of QTTB. Values First Advisors Inc. purchased a new stake in shares of Q32 Bio in the third quarter worth about $33,000. BNP Paribas Financial Markets boosted its stake in shares of Q32 Bio by 199.1% in the third quarter. BNP Paribas Financial Markets now owns 1,298 shares of the company’s stock worth $58,000 after buying an additional 864 shares during the last quarter. MetLife Investment Management LLC purchased a new stake in shares of Q32 Bio in the third quarter worth about $159,000. Franklin Resources Inc. purchased a new stake in shares of Q32 Bio in the third quarter worth about $225,000. Finally, Barclays PLC boosted its stake in shares of Q32 Bio by 105.2% in the third quarter. Barclays PLC now owns 10,443 shares of the company’s stock worth $465,000 after buying an additional 5,353 shares during the last quarter. 31.32% of the stock is owned by institutional investors and hedge funds.

About Q32 Bio

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.