Insider Selling: Q32 Bio (NASDAQ:QTTB) CEO Sells 9,845 Shares of Stock

Q32 Bio Inc. (NASDAQ:QTTB) CEO Jodie Pope Morrison sold 9,845 shares of Q32 Bio 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 $163,033.20. Following the transaction, the chief executive officer owned 343,259 shares in the company, valued at approximately $5,684,369.04. The trade was a 2.79% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Q32 Bio Trading Down 0.2%

NASDAQ:QTTB traded down $0.03 during trading hours on Thursday, hitting $16.15. The company had a trading volume of 198,925 shares, compared to its average volume of 745,675. Q32 Bio Inc. has a 1 year low of $1.62 and a 1 year high of $23.57. The company has a market cap of $480.77 million, a P/E ratio of 5.38 and a beta of 0.23. The company has a 50-day moving average of $14.75 and a 200 day moving average of $9.59.

Q32 Bio (NASDAQ:QTTB) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.02. On average, analysts forecast that Q32 Bio Inc. will post -1.51 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on QTTB. Morgan Stanley began coverage on shares of Q32 Bio in a report on Monday. They issued an “overweight” rating and a $34.00 target price on the stock. Weiss Ratings raised shares of Q32 Bio from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 21st. Cantor Fitzgerald began coverage on Q32 Bio in a report on Monday, May 18th. They issued an “overweight” rating on the stock. HC Wainwright increased their price objective on Q32 Bio from $13.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Finally, Oppenheimer raised their target price on Q32 Bio from $20.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

Institutional Investors Weigh In On Q32 Bio

Institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its position in shares of Q32 Bio by 107.7% during the first quarter. Renaissance Technologies LLC now owns 206,915 shares of the company’s stock worth $1,328,000 after buying an additional 107,315 shares during the period. Carlyle Group Inc. purchased a new stake in shares of Q32 Bio in the 2nd quarter valued at $769,000. Cetera Investment Advisers acquired a new position in Q32 Bio during the 1st quarter worth about $133,000. ADAR1 Capital Management LLC boosted its holdings in Q32 Bio by 75.0% during the 1st quarter. ADAR1 Capital Management LLC now owns 35,000 shares of the company’s stock valued at $225,000 after acquiring an additional 15,000 shares during the period. Finally, XTX Topco Ltd purchased a new position in Q32 Bio during the 4th quarter valued at about $68,000. 31.32% of the stock is owned by hedge funds and other institutional investors.

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.