Q32 Bio Inc. (NASDAQ:QTTB) Receives $29.86 Average PT from Analysts

Q32 Bio Inc. (NASDAQ:QTTB) has earned a consensus recommendation of “Moderate Buy” from the eight analysts that are presently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $29.86.

QTTB has been the topic of a number of research reports. Guggenheim lowered shares of Q32 Bio from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 11th. Leerink Partners restated a “market perform” rating and issued a $9.00 target price (down from $68.00) on shares of Q32 Bio in a report on Wednesday, December 11th. Piper Sandler lowered their price target on shares of Q32 Bio from $85.00 to $20.00 and set an “overweight” rating on the stock 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 note on Wednesday, December 11th. Finally, Oppenheimer cut their price target on shares of Q32 Bio from $80.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, December 11th.

Q32 Bio Stock Performance

NASDAQ:QTTB opened at $3.28 on Tuesday. The company has a market cap of $39.95 million, a P/E ratio of -0.23 and a beta of -0.30. Q32 Bio has a twelve month low of $2.99 and a twelve month high of $53.79. The company’s 50-day moving average price is $14.76 and its 200-day moving average price is $31.36. The company has a current ratio of 6.53, a quick ratio of 6.53 and a debt-to-equity ratio of 0.61.

Hedge Funds Weigh In On Q32 Bio

A number of hedge funds have recently made changes to their positions in QTTB. Values First Advisors Inc. acquired a new position in Q32 Bio during the third quarter worth $33,000. BNP Paribas Financial Markets lifted its stake in Q32 Bio by 199.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,298 shares of the company’s stock worth $58,000 after acquiring an additional 864 shares in the last quarter. MetLife Investment Management LLC purchased a new position in Q32 Bio during the 3rd quarter valued at about $159,000. Franklin Resources Inc. acquired a new position in Q32 Bio in the 3rd quarter valued at about $225,000. Finally, Rhumbline Advisers increased its stake 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 purchasing an additional 7,593 shares during the period. Hedge funds and other institutional investors own 31.32% of the company’s stock.

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.