Shares of Q32 Bio Inc. (NASDAQ:QTTB – Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $52.64 and last traded at $50.74, with a volume of 19184 shares traded. The stock had previously closed at $47.96.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on QTTB shares. Wells Fargo & Company started coverage on Q32 Bio in a report on Wednesday. They set an “overweight” rating and a $95.00 price objective for the company. Leerink Partnrs upgraded Q32 Bio to a “strong-buy” rating in a research report on Tuesday, May 21st. Guggenheim assumed coverage on Q32 Bio in a report on Monday, June 17th. They set a “buy” rating and a $100.00 target price for the company. Finally, Leerink Partners started coverage on shares of Q32 Bio in a research note on Tuesday, May 21st. They issued an “outperform” rating and a $54.00 price target on the stock. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $68.80.
Read Our Latest Stock Report on QTTB
Q32 Bio Trading Down 8.7 %
Q32 Bio (NASDAQ:QTTB – Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($1.42) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($0.42). On average, sell-side analysts forecast that Q32 Bio Inc. will post -11.76 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in QTTB. Atlas Venture Life Science Advisors LLC bought a new stake in Q32 Bio during the first quarter worth $35,649,000. Carlyle Group Inc. acquired a new stake in Q32 Bio in the first quarter valued at about $18,074,000. ARCH Venture Management LLC bought a new position in Q32 Bio in the first quarter valued at about $5,461,000. Harvard Management Co. Inc. acquired a new position in Q32 Bio during the second quarter worth about $2,925,000. Finally, Platinum Investment Management Ltd. bought a new position in shares of Q32 Bio in the first quarter worth about $1,874,000. 31.32% of the stock is owned by 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.
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