Q32 Bio Inc. (NASDAQ:QTTB) Short Interest Up 234.3% in July

Q32 Bio Inc. (NASDAQ:QTTB) saw a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 2,263,602 shares, a growth of 234.3% from the June 30th total of 677,047 shares. Currently, 20.4% of the company’s shares are short sold. Based on an average trading volume of 4,102,102 shares, the days-to-cover ratio is presently 0.6 days.

Q32 Bio Stock Up 0.4%

Q32 Bio stock traded up $0.06 on Monday, hitting $15.21. 527,401 shares of the stock traded hands, compared to its average volume of 794,388. Q32 Bio has a 1 year low of $1.57 and a 1 year high of $23.57. The firm has a market cap of $257.96 million, a P/E ratio of 5.72 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 business’s fifty day simple moving average is $12.52 and its 200 day simple moving average is $7.74.

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

Insider Activity at Q32 Bio

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

Institutional Investors Weigh In On Q32 Bio

Hedge funds and other institutional investors have recently bought and sold shares of the business. Opaleye Management Inc. bought a new position in shares of Q32 Bio during the fourth quarter valued at approximately $708,000. Renaissance Technologies LLC boosted its position in shares of Q32 Bio by 107.7% in the 1st quarter. Renaissance Technologies LLC now owns 206,915 shares of the company’s stock worth $1,328,000 after purchasing an additional 107,315 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Q32 Bio by 19.9% in the 4th quarter. Geode Capital Management LLC now owns 106,113 shares of the company’s stock worth $352,000 after purchasing an additional 17,617 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Q32 Bio in the 2nd quarter worth approximately $69,000. Finally, Goldman Sachs Group Inc. grew its stake in shares of Q32 Bio by 140.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 44,373 shares of the company’s stock worth $73,000 after buying an additional 25,953 shares during the last quarter. Hedge funds and other institutional investors own 31.32% of the company’s stock.

Wall Street Analysts Forecast Growth

QTTB has been the topic of a number of research reports. HC Wainwright reaffirmed a “buy” rating and set a $13.00 target price on shares of Q32 Bio in a research note on Tuesday, May 5th. Cantor Fitzgerald began coverage on shares of Q32 Bio in a report on Monday, May 18th. They issued an “overweight” rating for the company. Weiss Ratings raised Q32 Bio from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Zacks Research cut Q32 Bio from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Finally, Oppenheimer upped their target price on Q32 Bio from $20.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.33.

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.