Renaissance Technologies LLC grew its holdings in shares of Q32 Bio Inc. (NASDAQ:QTTB – Free Report) by 107.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 206,915 shares of the company’s stock after acquiring an additional 107,315 shares during the quarter. Renaissance Technologies LLC owned about 1.22% of Q32 Bio worth $1,328,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of QTTB. Two Sigma Investments LP purchased a new stake in Q32 Bio in the third quarter valued at approximately $62,000. HRT Financial LP increased its holdings in shares of Q32 Bio by 66.5% in the 4th quarter. HRT Financial LP now owns 24,698 shares of the company’s stock worth $81,000 after buying an additional 9,862 shares during the last quarter. Opaleye Management Inc. bought a new position in shares of Q32 Bio in the 4th quarter worth $708,000. Geode Capital Management LLC raised its position in shares of Q32 Bio by 19.9% during the 4th quarter. Geode Capital Management LLC now owns 106,113 shares of the company’s stock valued at $352,000 after buying an additional 17,617 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in Q32 Bio in the fourth quarter valued at $84,000. Hedge funds and other institutional investors own 31.32% of the company’s stock.
Q32 Bio Price Performance
QTTB opened at $15.37 on Friday. The stock’s 50 day simple moving average is $14.17 and its 200 day simple moving average is $8.83. Q32 Bio Inc. has a 1 year low of $1.62 and a 1 year high of $23.57. The firm has a market cap of $260.68 million, a price-to-earnings ratio of 5.12 and a beta of 0.23.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the company. Mizuho began coverage on Q32 Bio in a research report on Friday, May 22nd. They set an “outperform” rating and a $14.00 price target on the stock. Zacks Research lowered Q32 Bio from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Oppenheimer raised their price objective on Q32 Bio from $20.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Cantor Fitzgerald assumed coverage on Q32 Bio in a research report on Monday, May 18th. They issued an “overweight” rating for the company. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Q32 Bio in a research note on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Q32 Bio presently has a consensus rating of “Moderate Buy” and an average price target of $30.00.
Check Out Our Latest Report on Q32 Bio
Insider Buying and Selling at Q32 Bio
In other news, Director Orbimed Advisors Llc purchased 1,875,000 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were acquired at an average price of $8.00 per share, with a total value of $15,000,000.00. Following the acquisition, the director directly owned 3,502,987 shares in the company, valued at approximately $28,023,896. The trade was a 115.17% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Diyong Xu purchased 1,875,000 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was purchased at an average cost of $8.00 per share, for a total transaction of $15,000,000.00. Following the acquisition, the director owned 3,502,987 shares in the company, valued at approximately $28,023,896. The trade was a 115.17% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 34.46% of the stock is owned by insiders.
Q32 Bio 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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