Q32 Bio (NASDAQ:QTTB) Stock Price Down 2.9%

Q32 Bio Inc. (NASDAQ:QTTB) shares were down 2.9% during trading on Thursday . The stock traded as low as $25.31 and last traded at $25.77. Approximately 48,943 shares traded hands during mid-day trading, an increase of 67% from the average daily volume of 29,387 shares. The stock had previously closed at $26.54.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on QTTB. Oppenheimer initiated coverage on Q32 Bio in a research note on Thursday, April 11th. They set an “outperform” rating and a $50.00 price objective on the stock. Piper Sandler assumed coverage on Q32 Bio in a report on Tuesday, April 2nd. They set an “overweight” rating and a $45.00 price target on the stock.

Q32 Bio Trading Down 0.7 %

The company has a market capitalization of $83.42 million, a P/E ratio of -0.73 and a beta of -0.26.

Q32 Bio (NASDAQ:QTTB) last announced its earnings results on Tuesday, March 12th. The company reported ($4.32) earnings per share (EPS) for the quarter. As a group, analysts predict that Q32 Bio Inc. will post -4.37 EPS for the current year.

Institutional Trading of Q32 Bio

A number of large investors have recently made changes to their positions in the stock. BML Capital Management LLC bought a new stake in Q32 Bio during the 1st quarter valued at about $424,000. Vivo Capital LLC purchased a new position in shares of Q32 Bio during the first quarter worth approximately $6,306,000. Finally, Carlyle Group Inc. bought a new stake in shares of Q32 Bio during the first quarter valued at approximately $18,074,000. 31.32% of the stock is owned by hedge funds and other institutional investors.

About Q32 Bio

Q32 Bio Inc, a clinical-stage biotechnology company, develops biologic therapeutics targeting powerful regulators of the innate and adaptive immune systems to rebalance immunity in autoimmune and inflammatory diseases. Its products in the pipeline include ADX-914, a human anti-IL-7R antibody that re-regulates adaptive immune function, and ADX-097, which has in vivo biodistribution to affected tissues and organs, durable tissue pharmacokinetics and pharmacodynamics, and robust in vivo efficacy.