Shares of Q32 Bio Inc. (NASDAQ:QTTB – Get Free Report) have been assigned a consensus rating of “Moderate Buy” from the eight ratings firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $30.60.
QTTB has been the topic of a number of research analyst reports. 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 note on Tuesday, July 28th. Weiss Ratings upgraded shares of Q32 Bio from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 21st. Jefferies Financial Group initiated coverage on shares of Q32 Bio in a research report on Monday. They issued a “buy” rating and a $29.00 price objective on the stock. Mizuho upgraded shares of Q32 Bio to a “strong-buy” rating in a research note on Monday, September 7th. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Q32 Bio in a report on Thursday.
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Insider Transactions at Q32 Bio
Institutional Investors Weigh In On Q32 Bio
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Squarepoint Ops LLC acquired a new position in shares of Q32 Bio in the second quarter valued at about $303,000. Atlas Venture Life Science Advisors LLC increased its position in Q32 Bio by 29.9% during the second quarter. Atlas Venture Life Science Advisors LLC now owns 2,717,106 shares of the company’s stock worth $34,616,000 after acquiring an additional 625,000 shares during the period. Susquehanna International Group LLP acquired a new stake in Q32 Bio in the 2nd quarter worth about $297,000. Carlyle Group Inc. acquired a new stake in Q32 Bio in the 2nd quarter worth about $769,000. Finally, BlackRock Inc. bought a new stake in Q32 Bio in the 2nd quarter valued at about $1,510,000. Institutional investors and hedge funds own 31.32% of the company’s stock.
Q32 Bio Stock Performance
Shares of QTTB stock opened at $8.25 on Friday. Q32 Bio has a 52-week low of $1.90 and a 52-week high of $23.57. The stock has a market cap of $245.60 million, a price-to-earnings ratio of 2.75 and a beta of 0.31. The firm’s 50-day moving average is $13.40 and its 200-day moving average is $10.79.
Q32 Bio (NASDAQ:QTTB – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.02. Sell-side analysts predict that Q32 Bio will post -1.54 EPS for the current fiscal year.
Q32 Bio Company Profile
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.
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