Q32 Bio Inc. (NASDAQ:QTTB) Sees Significant Increase in Short Interest

Q32 Bio Inc. (NASDAQ:QTTB) was the recipient of a significant increase in short interest in December. As of December 15th, there was short interest totaling 428,900 shares, an increase of 45.3% from the November 30th total of 295,192 shares. Based on an average daily volume of 15,874,400 shares, the days-to-cover ratio is presently 0.0 days. Currently, 5.8% of the shares of the stock are sold short. Currently, 5.8% of the shares of the stock are sold short. Based on an average daily volume of 15,874,400 shares, the days-to-cover ratio is presently 0.0 days.

Q32 Bio Price Performance

Shares of NASDAQ QTTB traded up $0.05 during trading on Monday, hitting $3.25. 59,572 shares of the company were exchanged, compared to its average volume of 1,205,234. Q32 Bio has a 1 year low of $1.35 and a 1 year high of $6.37. The company has a market cap of $40.02 million, a price-to-earnings ratio of -0.94 and a beta of 0.23. The firm’s fifty day moving average price is $2.75 and its 200 day moving average price is $2.27.

Q32 Bio (NASDAQ:QTTB) last issued its quarterly earnings data on Thursday, November 13th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.39) by $0.79. On average, research analysts forecast that Q32 Bio will post -12.32 earnings per share for the current year.

Insider Activity

In related news, CFO Lee Kalowski sold 9,072 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $3.46, for a total transaction of $31,389.12. Following the completion of the transaction, the chief financial officer owned 39,938 shares in the company, valued at $138,185.48. The trade was a 18.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jodie Pope Morrison sold 22,506 shares of Q32 Bio stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $3.46, for a total transaction of $77,870.76. Following the completion of the sale, the chief executive officer owned 99,000 shares of the company’s stock, valued at $342,540. This trade represents a 18.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 40.00% of the company’s stock.

Institutional Trading of Q32 Bio

Several large investors have recently modified their holdings of the business. Marshall Wace LLP acquired a new position in shares of Q32 Bio in the 2nd quarter worth approximately $25,000. Acadian Asset Management LLC acquired a new position in Q32 Bio during the 1st quarter valued at about $50,000. Two Sigma Investments LP acquired a new stake in Q32 Bio in the 3rd quarter valued at about $62,000. AQR Capital Management LLC acquired a new position in shares of Q32 Bio in the 1st quarter valued at $68,000. Finally, Jane Street Group LLC purchased a new stake in shares of Q32 Bio in the second quarter valued at $69,000. 31.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on QTTB. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Q32 Bio in a research note on Tuesday, October 14th. Wall Street Zen raised Q32 Bio from a “sell” rating to a “hold” rating in a research report on Sunday, October 26th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $7.33.

Q32 Bio Company 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.