Q32 Bio (NASDAQ:QTTB) Upgraded by Mizuho to Strong-Buy Rating

Mizuho upgraded shares of Q32 Bio (NASDAQ:QTTB) to a strong-buy rating in a research note released on Friday morning,Zacks.com reports.

A number of other equities research analysts also recently commented on the company. Zacks Research downgraded Q32 Bio from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. HC Wainwright reiterated a “buy” rating and set a $13.00 price objective on shares of Q32 Bio in a research note on Tuesday, May 5th. Cantor Fitzgerald initiated coverage on Q32 Bio in a research note on Monday. They issued an “overweight” rating on the stock. Finally, Weiss Ratings upgraded Q32 Bio from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Q32 Bio presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.50.

Q32 Bio Price Performance

Shares of QTTB opened at $5.80 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.36 and a quick ratio of 5.36. The company’s fifty day moving average price is $6.05 and its 200-day moving average price is $4.40. Q32 Bio has a 1-year low of $1.35 and a 1-year high of $8.05. The firm has a market capitalization of $98.37 million, a PE ratio of 2.18 and a beta of -0.05.

Q32 Bio (NASDAQ:QTTB) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.54) EPS for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.14. On average, equities research analysts predict that Q32 Bio will post -2.02 EPS for the current year.

Insider Buying and Selling at Q32 Bio

In related news, CEO Jodie Pope Morrison sold 9,896 shares of the company’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $4.51, for a total value of $44,630.96. Following the completion of the transaction, the chief executive officer owned 89,104 shares of the company’s stock, valued at approximately $401,859.04. This represents a 10.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 16,706 shares of company stock valued at $75,344. 40.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Q32 Bio

A number of institutional investors have recently added to or reduced their stakes in QTTB. Marshall Wace LLP acquired a new position in Q32 Bio during the second quarter worth $25,000. Acadian Asset Management LLC purchased a new stake in shares of Q32 Bio during the first quarter worth about $50,000. Two Sigma Investments LP acquired a new position in shares of Q32 Bio during the 3rd quarter worth about $62,000. ADAR1 Capital Management LLC acquired a new position in shares of Q32 Bio during the 4th quarter worth about $66,000. Finally, AQR Capital Management LLC purchased a new position in Q32 Bio in the 1st quarter valued at about $68,000. Institutional investors and hedge funds own 31.32% of the company’s stock.

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.