Q32 Bio Inc. (NASDAQ:QTTB – Free Report) – Stock analysts at HC Wainwright raised their FY2028 earnings per share (EPS) estimates for Q32 Bio in a research note issued on Wednesday, September 30th. HC Wainwright analyst J. Pantginis now expects that the company will earn ($1.52) per share for the year, up from their prior forecast of ($1.80). HC Wainwright has a “Buy” rating and a $36.00 price objective on the stock. The consensus estimate for Q32 Bio’s current full-year earnings is ($1.54) per share. HC Wainwright also issued estimates for Q32 Bio’s FY2029 earnings at $1.21 EPS and FY2030 earnings at $2.89 EPS.
A number of other equities analysts have also commented on the stock. Oppenheimer restated an “outperform” rating on shares of Q32 Bio in a research report on Thursday, October 1st. Jefferies Financial Group assumed coverage on shares of Q32 Bio in a report on Monday, September 28th. They set a “buy” rating and a $29.00 price objective for the company. Morgan Stanley started coverage on shares of Q32 Bio in a research note on Monday, August 24th. They issued an “overweight” rating and a $34.00 target price for the company. Weiss Ratings raised Q32 Bio from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 21st. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Q32 Bio in a research report on Wednesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $30.60.
Q32 Bio Stock Down 3.1%
Shares of Q32 Bio stock opened at $8.11 on Monday. The stock has a market capitalization of $241.43 million, a P/E ratio of 2.70 and a beta of 0.31. The company has a 50-day simple moving average of $12.97 and a 200 day simple moving average of $10.83. Q32 Bio has a 12-month low of $1.90 and a 12-month high of $23.57.
Q32 Bio (NASDAQ:QTTB – Get Free Report) last issued its 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.
Insiders Place Their Bets
In other Q32 Bio news, insider Shelia Violette sold 2,798 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $16.56, for a total transaction of $46,334.88. Following the sale, the insider owned 127,771 shares of the company’s stock, valued at $2,115,887.76. This represents a 2.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 dated Tuesday, August 25th. The shares were sold at an average price of $16.56, for a total transaction of $163,033.20. Following the completion of the sale, the chief executive officer owned 343,259 shares of the company’s stock, valued at $5,684,369.04. The trade was a 2.79% decrease in their position. 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. Insiders have sold a total of 16,615 shares of company stock valued at $275,144 in the last 90 days. 34.46% of the stock is currently owned by insiders.
Institutional Trading of Q32 Bio
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Atlas Venture Life Science Advisors LLC lifted its holdings in Q32 Bio by 29.9% during the 2nd quarter. Atlas Venture Life Science Advisors LLC now owns 2,717,106 shares of the company’s stock worth $34,616,000 after buying an additional 625,000 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Q32 Bio by 107.7% in the 1st quarter. Renaissance Technologies LLC now owns 206,915 shares of the company’s stock valued at $1,328,000 after buying an additional 107,315 shares during the period. BlackRock Inc. acquired a new stake in shares of Q32 Bio in the 2nd quarter valued at $1,510,000. Carlyle Group Inc. bought a new stake in shares of Q32 Bio during the second quarter worth $769,000. Finally, ADAR1 Capital Management LLC raised its position in shares of Q32 Bio by 75.0% during the first 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 during the last quarter. Institutional investors and hedge funds own 31.32% of the company’s stock.
Q32 Bio Company Profile
Q32 Bio is a clinical-stage biotechnology company focused on developing therapies designed to restore immune homeostasis and address diseases driven by immune dysregulation. The company’s approach targets pathways involved in the transforming growth factor beta superfamily, which plays a role in regulating inflammation, tissue repair and immune responses.
Q32 Bio’s lead product candidate is bempikibart, also known as ADX-914, a fully human monoclonal antibody designed to modulate immune activity through selective targeting of the activin receptor type IIA pathway.
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