Q32 Bio Inc. (NASDAQ:QTTB) Given Average Rating of “Hold” by Brokerages

Shares of Q32 Bio Inc. (NASDAQ:QTTB) have been given a consensus rating of “Hold” by the eight brokerages that are presently covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $24.71.

A number of analysts have recently weighed in on the stock. Piper Sandler cut shares of Q32 Bio from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $20.00 to $4.00 in a report on Tuesday, February 11th. Leerink Partnrs downgraded Q32 Bio from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Guggenheim lowered shares of Q32 Bio from a “buy” rating to a “neutral” rating in a report on Wednesday, December 11th. Wells Fargo & Company decreased their target price on shares of Q32 Bio from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 12th. Finally, Leerink Partners reiterated a “market perform” rating and set a $9.00 price target (down previously from $68.00) on shares of Q32 Bio in a research report on Wednesday, December 11th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its holdings in shares of Q32 Bio by 199.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,298 shares of the company’s stock valued at $58,000 after purchasing an additional 864 shares in the last quarter. MetLife Investment Management LLC acquired a new stake in Q32 Bio in the third quarter valued at $159,000. Franklin Resources Inc. purchased a new stake in Q32 Bio during the 3rd quarter worth about $225,000. Public Employees Retirement System of Ohio acquired a new position in shares of Q32 Bio during the 4th quarter worth about $26,000. Finally, Barclays PLC increased its holdings in shares of Q32 Bio by 105.2% in the 3rd quarter. Barclays PLC now owns 10,443 shares of the company’s stock valued at $465,000 after acquiring an additional 5,353 shares during the last quarter. Hedge funds and other institutional investors own 31.32% of the company’s stock.

Q32 Bio Stock Up 2.5 %

QTTB opened at $1.64 on Friday. The company has a market capitalization of $20.00 million, a PE ratio of -0.12 and a beta of -0.17. The firm has a 50-day simple moving average of $2.39 and a two-hundred day simple moving average of $18.48. The company has a quick ratio of 6.53, a current ratio of 6.53 and a debt-to-equity ratio of 0.61. Q32 Bio has a 52 week low of $1.40 and a 52 week high of $53.79.

Q32 Bio (NASDAQ:QTTB) last announced its earnings results on Tuesday, March 11th. The company reported ($1.16) earnings per share for the quarter, beating the consensus estimate of ($1.25) by $0.09. Analysts forecast that Q32 Bio will post -12.32 earnings per share for the current fiscal 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.