Mizuho upgraded shares of Q32 Bio (NASDAQ:QTTB – Free Report) to a strong-buy rating in a research report released on Monday morning,Zacks reports.
QTTB has been the topic of several other reports. Cantor Fitzgerald started coverage on Q32 Bio in a research note on Monday, May 18th. They issued an “overweight” rating on the stock. Zacks Research cut Q32 Bio from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. Oppenheimer upped their price target on Q32 Bio from $20.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Weiss Ratings raised Q32 Bio from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 21st. Finally, HC Wainwright increased their price target on Q32 Bio from $13.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $31.00.
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Q32 Bio Stock Down 2.5%
Q32 Bio (NASDAQ:QTTB – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.46) by $0.02. Research analysts forecast that Q32 Bio will post -1.51 earnings per share for the current year.
Insider Buying and Selling at Q32 Bio
In other news, insider Shelia Violette sold 2,798 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $16.56, for a total value of $46,334.88. Following the sale, the insider directly owned 127,771 shares in the company, valued at approximately $2,115,887.76. This trade represents a 2.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jodie Morrison sold 9,845 shares of Q32 Bio stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $16.56, for a total transaction of $163,033.20. Following the sale, the chief executive officer directly owned 343,259 shares of the company’s stock, valued at approximately $5,684,369.04. This trade represents a 2.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 16,615 shares of company stock valued at $275,144. Insiders own 34.46% of the company’s stock.
Institutional Trading of Q32 Bio
Hedge funds and other institutional investors have recently bought and sold shares of the business. Squarepoint Ops LLC purchased a new stake in Q32 Bio during the 2nd quarter worth about $303,000. Atlas Venture Life Science Advisors LLC increased its holdings in shares of Q32 Bio by 29.9% in the 2nd quarter. Atlas Venture Life Science Advisors LLC now owns 2,717,106 shares of the company’s stock valued at $34,616,000 after acquiring an additional 625,000 shares during the last quarter. Susquehanna International Group LLP purchased a new position in shares of Q32 Bio in the 2nd quarter valued at about $297,000. Carlyle Group Inc. acquired a new stake in shares of Q32 Bio during the 2nd quarter worth about $769,000. Finally, BlackRock Inc. acquired a new stake in shares of Q32 Bio during the 2nd quarter worth about $1,510,000. 31.32% of the stock is currently owned by institutional investors and hedge funds.
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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