Q32 Bio (NASDAQ:QTTB) Issues Earnings Results

Q32 Bio (NASDAQ:QTTB) issued its quarterly earnings results on Thursday. The company reported ($0.60) EPS for the quarter, beating analysts’ consensus estimates of ($1.39) by $0.79, FiscalAI reports.

Q32 Bio Trading Down 6.8%

Shares of QTTB traded down $0.17 during trading hours on Thursday, reaching $2.27. 116,979 shares of the stock traded hands, compared to its average volume of 532,192. The company’s 50-day moving average price is $2.43 and its two-hundred day moving average price is $2.02. Q32 Bio has a 52-week low of $1.35 and a 52-week high of $40.37. The company has a market cap of $27.63 million, a P/E ratio of -0.53 and a beta of 0.15.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Q32 Bio in a research note on Tuesday, October 14th. Wall Street Zen raised shares of Q32 Bio from a “sell” rating to a “hold” rating in a research note on Sunday, October 26th. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.17.

Hedge Funds Weigh In On Q32 Bio

Institutional investors have recently made changes to their positions in the company. Marshall Wace LLP purchased a new stake in shares of Q32 Bio during the second quarter valued at about $25,000. Acadian Asset Management LLC purchased a new stake in Q32 Bio during the first quarter valued at approximately $50,000. AQR Capital Management LLC acquired a new stake in Q32 Bio in the first quarter valued at approximately $68,000. Jane Street Group LLC purchased a new stake in shares of Q32 Bio during the 2nd quarter valued at $69,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of Q32 Bio by 140.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 44,373 shares of the company’s stock worth $73,000 after purchasing an additional 25,953 shares in the last quarter. 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.