Q32 Bio (NASDAQ:QTTB – Get Free Report) was upgraded by investment analysts at Mizuho to a “strong-buy” rating in a note issued to investors on Friday,Zacks.com reports.
A number of other research analysts also recently commented on the company. Cantor Fitzgerald assumed coverage on Q32 Bio in a research note on Monday. They issued an “overweight” rating on the stock. Weiss Ratings upgraded Q32 Bio from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Zacks Research downgraded Q32 Bio from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. Finally, HC Wainwright restated a “buy” rating and issued a $13.00 target price on shares of Q32 Bio in a research note on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $13.50.
Read Our Latest Analysis on QTTB
Q32 Bio Stock Up 5.5%
Q32 Bio (NASDAQ:QTTB – Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.54) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.14. On average, sell-side analysts forecast that Q32 Bio will post -2.02 earnings per share for the current fiscal year.
Insider Activity
In other news, CEO Jodie Pope Morrison sold 9,896 shares of the company’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $4.51, for a total transaction of $44,630.96. Following the completion of the sale, the chief executive officer owned 89,104 shares in the company, valued at approximately $401,859.04. This represents a 10.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 16,706 shares of company stock worth $75,344. Corporate insiders own 40.00% of the company’s stock.
Institutional Trading of Q32 Bio
Several large investors have recently made changes to their positions in the stock. ADAR1 Capital Management LLC boosted its stake in shares of Q32 Bio by 75.0% during the 1st quarter. ADAR1 Capital Management LLC now owns 35,000 shares of the company’s stock worth $225,000 after acquiring an additional 15,000 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Q32 Bio by 107.7% during the 1st quarter. Renaissance Technologies LLC now owns 206,915 shares of the company’s stock worth $1,328,000 after acquiring an additional 107,315 shares in the last quarter. Cetera Investment Advisers bought a new stake in shares of Q32 Bio during the 1st quarter worth about $133,000. XTX Topco Ltd bought a new stake in shares of Q32 Bio during the 4th quarter worth about $68,000. Finally, Opaleye Management Inc. bought a new stake in shares of Q32 Bio during the 4th quarter worth about $708,000. Institutional investors own 31.32% of the company’s stock.
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.
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