Q32 Bio (NASDAQ:QTTB) Announces Quarterly Earnings Results, Beats Estimates By $0.14 EPS

Q32 Bio (NASDAQ:QTTB) announced its quarterly earnings data on Tuesday. The company reported ($0.54) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.14, FiscalAI reports.

Q32 Bio Stock Down 0.8%

Shares of QTTB stock traded down $0.04 during trading hours on Tuesday, hitting $5.00. 78,673 shares of the company were exchanged, compared to its average volume of 256,154. The business has a 50 day moving average of $5.85 and a two-hundred day moving average of $4.14. The company has a current ratio of 4.85, a quick ratio of 4.85 and a debt-to-equity ratio of 0.08. Q32 Bio has a 52 week low of $1.35 and a 52 week high of $8.05. The company has a market capitalization of $78.15 million, a PE ratio of 2.17 and a beta of -0.05.

Analysts Set New Price Targets

Several equities analysts recently weighed in on QTTB shares. Zacks Research upgraded shares of Q32 Bio from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Q32 Bio in a report on Friday, January 9th. Finally, HC Wainwright restated a “buy” rating and issued a $13.00 price objective on shares of Q32 Bio in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $13.00.

Insider Activity

In other news, CEO Jodie Pope Morrison sold 9,896 shares of the stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $4.51, for a total transaction of $44,630.96. Following the completion of the sale, the chief executive officer owned 89,104 shares of the company’s stock, valued at $401,859.04. This represents a 10.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 16,706 shares of company stock worth $75,344 over the last ninety days. 40.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Q32 Bio

Several large investors have recently made changes to their positions in the stock. HRT Financial LP increased its position in shares of Q32 Bio by 66.5% during the fourth quarter. HRT Financial LP now owns 24,698 shares of the company’s stock worth $81,000 after acquiring an additional 9,862 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Q32 Bio during the second quarter worth $25,000. Geode Capital Management LLC increased its position in shares of Q32 Bio by 19.9% during the fourth quarter. Geode Capital Management LLC now owns 106,113 shares of the company’s stock worth $352,000 after acquiring an additional 17,617 shares in the last quarter. ADAR1 Capital Management LLC bought a new stake in shares of Q32 Bio during the fourth quarter worth $66,000. Finally, XTX Topco Ltd bought a new stake in shares of Q32 Bio during the fourth quarter worth $68,000. Institutional investors own 31.32% of the company’s stock.

About Q32 Bio

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.