Q32 Bio (NASDAQ:QTTB) Shares Up 9.6% – Time to Buy?

Shares of Q32 Bio Inc. (NASDAQ:QTTB) traded up 9.6% during mid-day trading on Friday . The company traded as high as $4.70 and last traded at $4.24. 411,008 shares traded hands during mid-day trading, an increase of 162% from the average session volume of 157,056 shares. The stock had previously closed at $3.87.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Q32 Bio in a research note on Friday, January 9th. Wall Street Zen upgraded Q32 Bio from a “sell” rating to a “hold” rating in a research note on Sunday, October 26th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Q32 Bio has an average rating of “Reduce” and an average target price of $7.33.

Q32 Bio Trading Up 9.6%

The business’s fifty day moving average price is $3.52 and its two-hundred day moving average price is $2.67. The firm has a market cap of $52.15 million, a P/E ratio of -1.23 and a beta of 0.16.

Q32 Bio (NASDAQ:QTTB) last posted its earnings results on Thursday, November 13th. The company reported ($0.60) EPS for the quarter, topping the consensus estimate of ($1.39) by $0.79. Research analysts predict that Q32 Bio Inc. will post -12.32 EPS for the current fiscal year.

Insider Transactions at Q32 Bio

In related news, CFO Lee Kalowski sold 9,072 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $3.46, for a total value of $31,389.12. Following the transaction, the chief financial officer directly owned 39,938 shares of the company’s stock, valued at approximately $138,185.48. This trade represents a 18.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jodie Pope Morrison sold 22,506 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $3.46, for a total value 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 approximately $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. Corporate insiders own 40.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of QTTB. Marshall Wace LLP acquired a new position in Q32 Bio during the 2nd quarter worth $25,000. Acadian Asset Management LLC acquired a new stake in shares of Q32 Bio in the first quarter valued at about $50,000. Two Sigma Investments LP bought a new position in shares of Q32 Bio in the third quarter worth about $62,000. AQR Capital Management LLC acquired a new position in shares of Q32 Bio during the 1st quarter worth about $68,000. Finally, Jane Street Group LLC acquired a new position in shares of Q32 Bio during the 2nd quarter worth about $69,000. 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.