Q32 Bio (NASDAQ:QTTB) Price Target Raised to $36.00

Q32 Bio (NASDAQ:QTTB) had its price objective boosted by HC Wainwright from $13.00 to $36.00 in a report released on Tuesday morning, Marketbeat Ratings reports. They currently have a buy rating on the stock.

Other equities research analysts have also issued reports about the company. Oppenheimer raised their price target on Q32 Bio from $20.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Zacks Research cut Q32 Bio from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Mizuho began coverage on Q32 Bio in a research report on Friday, May 22nd. They issued an “outperform” rating and a $14.00 price objective on the stock. Cantor Fitzgerald started coverage on Q32 Bio in a research note on Monday, May 18th. 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. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $30.00.

Q32 Bio Trading Up 6.3%

Shares of QTTB opened at $15.56 on Tuesday. Q32 Bio has a twelve month low of $1.57 and a twelve month high of $23.57. The company has a market cap of $263.90 million, a P/E ratio of 5.85 and a beta of 0.24. The company has a current ratio of 5.36, a quick ratio of 5.36 and a debt-to-equity ratio of 0.04. The company’s fifty day simple moving average is $13.10 and its 200-day simple moving average is $7.99.

Q32 Bio (NASDAQ:QTTB) last released its earnings results on Tuesday, May 5th. The company reported ($0.54) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.14. As a group, analysts expect that Q32 Bio will post -1.87 EPS for the current year.

Insider Transactions at Q32 Bio

In other news, Director Diyong Xu purchased 1,875,000 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was acquired at an average cost of $8.00 per share, with a total value of $15,000,000.00. Following the completion of the transaction, the director owned 3,502,987 shares in the company, valued at $28,023,896. This represents a 115.17% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Orbimed Advisors Llc purchased 1,875,000 shares of the stock in a transaction dated Thursday, May 28th. The stock was purchased at an average price of $8.00 per share, for a total transaction of $15,000,000.00. Following the completion of the acquisition, the director directly owned 3,502,987 shares in the company, valued at approximately $28,023,896. This represents a 115.17% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 34.46% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of QTTB. Jane Street Group LLC purchased a new stake in Q32 Bio during the fourth quarter valued at approximately $84,000. HRT Financial LP boosted its stake in Q32 Bio by 66.5% in the fourth quarter. HRT Financial LP now owns 24,698 shares of the company’s stock valued at $81,000 after acquiring an additional 9,862 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Q32 Bio by 140.9% in the first quarter. Goldman Sachs Group Inc. now owns 44,373 shares of the company’s stock worth $73,000 after purchasing an additional 25,953 shares during the last quarter. AQR Capital Management LLC purchased a new position in Q32 Bio in the first quarter worth $68,000. Finally, XTX Topco Ltd acquired a new position in shares of Q32 Bio during the fourth quarter worth $68,000. Hedge funds and other institutional investors 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.