Q32 Bio (NASDAQ:QTTB) Stock Rated “Buy” in New Coverage at Jefferies Financial Group

Jefferies Financial Group started coverage on shares of Q32 Bio (NASDAQ:QTTB – Free Report) in a report released on Monday, MarketBeat reports. The brokerage issued a buy rating and a $29.00 price target on the stock.

A number of other analysts have also recently weighed in on QTTB. Morgan Stanley assumed coverage on Q32 Bio in a research report on Monday, August 24th. They set an “overweight” rating and a $34.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Q32 Bio in a report on Wednesday, September 16th. Weiss Ratings upgraded Q32 Bio from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 21st. Mizuho raised Q32 Bio to a “strong-buy” rating in a report on Monday, September 7th. Finally, HC Wainwright lifted their price objective on shares of 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, five have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $30.60.

Check Out Our Latest Report on Q32 Bio

Q32 Bio Stock Performance

NASDAQ QTTB opened at $8.27 on Monday. The firm’s fifty day moving average is $13.54 and its two-hundred day moving average is $10.78. Q32 Bio has a one year low of $1.90 and a one year high of $23.57. The firm has a market cap of $246.20 million, a PE ratio of 2.76 and a beta of 0.21.

Q32 Bio (NASDAQ:QTTB – Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($0.46) by $0.02. Research analysts predict that Q32 Bio will post -1.54 earnings per share for the current year.

Insider Transactions at Q32 Bio

In other news, insider Shelia Violette sold 2,798 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $16.56, for a total value of $46,334.88. Following the completion of the sale, the insider directly owned 127,771 shares of the company’s stock, valued at $2,115,887.76. This trade represents a 2.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $16.56, for a total value of $163,033.20. Following the completion of the sale, the chief executive officer directly owned 343,259 shares of the company’s stock, valued at $5,684,369.04. This represents a 2.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 16,615 shares of company stock valued at $275,144. Corporate insiders own 34.46% of the company’s stock.

Institutional Investors Weigh In On Q32 Bio

Institutional investors have recently made changes to their positions in the stock. ADAR1 Capital Management LLC grew 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 purchasing an additional 15,000 shares during the period. Cetera Investment Advisers acquired a new stake in shares of Q32 Bio in the first quarter valued at about $133,000. Susquehanna International Group LLP acquired a new stake in shares of Q32 Bio in the second quarter valued at about $297,000. Squarepoint Ops LLC purchased a new stake in Q32 Bio during the second quarter worth about $303,000. Finally, Carlyle Group Inc. purchased a new stake in Q32 Bio during the second quarter worth about $769,000. 31.32% of the stock is currently owned by hedge funds and other institutional investors.

About Q32 Bio

(Get Free Report)

Q32 Bio Inc is a clinical-stage biotechnology company focused on developing therapies for diseases associated with immune dysregulation. The company’s research is aimed at restoring balance in the immune system by targeting biological pathways involved in inflammation, tissue repair and immune regulation.

Q32 Bio’s lead product candidate is bempikibart, also known as ADX-914, a fully human monoclonal antibody designed to inhibit activin A signaling through the activin receptor type IIB pathway.

Further Reading

Analyst Recommendations for Q32 Bio (NASDAQ:QTTB)

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