Shares of Q32 Bio Inc. (NASDAQ:QTTB – Get Free Report) have received an average rating of “Moderate Buy” from the nine analysts that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $32.17.
A number of equities research analysts recently weighed in on QTTB shares. Oppenheimer reaffirmed an “outperform” rating on shares of Q32 Bio in a report on Thursday, October 1st. Morgan Stanley assumed coverage on Q32 Bio in a research note on Monday, August 24th. They issued an “overweight” rating and a $34.00 price objective on the stock. Leerink Partners initiated coverage on Q32 Bio in a research note on Monday, October 12th. They issued an “outperform” rating and a $40.00 price objective on the stock. HC Wainwright increased their target price on Q32 Bio from $13.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Finally, Mizuho raised Q32 Bio to a “strong-buy” rating in a report on Monday, September 7th.
Check Out Our Latest Stock Report on QTTB
Q32 Bio Trading Up 3.6%
NASDAQ QTTB opened at $7.79 on Tuesday. Q32 Bio has a 1-year low of $1.90 and a 1-year high of $23.57. The company has a 50 day moving average of $11.60 and a 200-day moving average of $10.91. The firm has a market cap of $231.91 million, a price-to-earnings ratio of 2.60 and a beta of 0.31.
Q32 Bio (NASDAQ:QTTB – Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.02. On average, analysts forecast that Q32 Bio will post -1.54 earnings per share for the current year.
Insider Transactions at Q32 Bio
In other news, CEO Jodie Morrison sold 9,845 shares of the company’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 transaction of $163,033.20. Following the transaction, the chief executive officer directly owned 343,259 shares in the company, valued at approximately $5,684,369.04. This represents a 2.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Shelia Violette sold 2,798 shares of the 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 completion of the transaction, the insider owned 127,771 shares in the company, valued at $2,115,887.76. The trade was a 2.14% 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. Over the last three months, insiders have sold 22,054 shares of company stock worth $320,397. Corporate insiders own 34.46% of the company’s stock.
Institutional Investors Weigh In On Q32 Bio
A number of institutional investors and hedge funds have recently made changes to their positions in the company. Atlas Venture Life Science Advisors LLC boosted its holdings in Q32 Bio by 29.9% in the second 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. BlackRock Inc. bought a new stake in Q32 Bio during the 2nd quarter worth approximately $1,510,000. Renaissance Technologies LLC increased its stake in Q32 Bio by 107.7% during the 1st quarter. Renaissance Technologies LLC now owns 206,915 shares of the company’s stock worth $1,328,000 after purchasing an additional 107,315 shares in the last quarter. Carlyle Group Inc. acquired a new stake in Q32 Bio during the 2nd quarter worth approximately $769,000. Finally, Squarepoint Ops LLC acquired a new stake in Q32 Bio during the 2nd quarter worth approximately $303,000. Institutional investors own 31.32% of the company’s stock.
About Q32 Bio
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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