Q32 Bio Inc. (NASDAQ:QTTB) Stock Rated “Moderate Buy” by Wall Street Analysts

Q32 Bio Inc. (NASDAQ:QTTB) has received a consensus recommendation of “Moderate Buy” from the nine brokerages that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $32.17.

Several brokerages recently weighed in on QTTB. Cantor Fitzgerald restated an “overweight” rating on shares of Q32 Bio in a report on Wednesday, September 16th. HC Wainwright boosted their price target on Q32 Bio from $13.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Oppenheimer reiterated an “outperform” rating on shares of Q32 Bio in a research report on Thursday, October 1st. Leerink Partners began coverage on shares of Q32 Bio in a report on Monday, October 12th. They issued an “outperform” rating and a $40.00 price target on the stock. Finally, Jefferies Financial Group started coverage on shares of Q32 Bio in a report on Monday, September 28th. They issued a “buy” rating and a $29.00 price objective for the company.

Q32 Bio Trading Down 1.7%

Shares of QTTB opened at $8.65 on Tuesday. Q32 Bio has a 12-month low of $1.90 and a 12-month high of $23.57. The company has a market cap of $257.51 million, a PE ratio of 2.88 and a beta of 0.31. The stock has a 50-day moving average price of $11.07 and a 200-day moving average price of $10.94.

Q32 Bio (NASDAQ:QTTB) last released its earnings results on Wednesday, August 5th. The company reported ($0.44) EPS for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.02. As a group, analysts predict that Q32 Bio will post -1.54 earnings per share for the current year.

Insider Activity

In other Q32 Bio news, insider Shelia M. Violette sold 2,798 shares of the firm’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 $46,334.88. Following the completion of the transaction, the insider owned 127,771 shares of the company’s stock, valued at approximately $2,115,887.76. This trade represents a 2.14% 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, CFO Lee Kalowski sold 3,972 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $16.56, for a total value of $65,776.32. Following the completion of the sale, the chief financial officer owned 138,471 shares in the company, valued at $2,293,079.76. The trade was a 2.79% decrease in their position. 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. Insiders sold a total of 22,054 shares of company stock worth $320,397 in the last quarter. 34.46% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of QTTB. Atlas Venture Life Science Advisors LLC lifted its position in Q32 Bio by 29.9% during 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 purchasing an additional 625,000 shares during the period. BlackRock Inc. bought a new position in Q32 Bio in the second quarter valued at about $1,510,000. Renaissance Technologies LLC grew its stake in shares of Q32 Bio by 107.7% during the 1st quarter. Renaissance Technologies LLC now owns 206,915 shares of the company’s stock valued at $1,328,000 after purchasing an additional 107,315 shares during the period. Carlyle Group Inc. purchased a new position in shares of Q32 Bio during the 2nd quarter worth $769,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Q32 Bio during the 2nd quarter worth $303,000. 31.32% of the stock is owned by hedge funds and other institutional investors.

About Q32 Bio

Q32 Bio Inc (NASDAQ: QTTB) is a clinical-stage biotechnology company focused on developing biologic therapies for diseases associated with immune-system dysfunction. The company’s research programs are designed to restore immune balance rather than broadly suppress immune activity.

Q32 Bio’s lead product candidate is bempikibart, formerly known as ADX-914, a fully human monoclonal antibody that targets activin receptor type IIA (ActRIIA). The company has evaluated bempikibart in inflammatory and autoimmune conditions, including atopic dermatitis and alopecia areata.

The company also has pursued additional immunology programs, including therapies intended to address complement-mediated disease.