Q32 Bio (NASDAQ:QTTB) Shares Up 8.2%

Q32 Bio Inc. (NASDAQ:QTTB)’s stock price rose 8.2% during trading on Tuesday . The company traded as high as $49.17 and last traded at $48.68. Approximately 23,483 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 62,114 shares. The stock had previously closed at $44.98.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company assumed coverage on Q32 Bio in a report on Wednesday, September 11th. They set an “overweight” rating and a $95.00 price target for the company. Guggenheim initiated coverage on shares of Q32 Bio in a research report on Monday, June 17th. They issued a “buy” rating and a $100.00 price target for the company. Five investment 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.com, the stock presently has an average rating of “Buy” and an average price target of $68.80.

Q32 Bio Trading Up 1.7 %

The company’s 50 day moving average price is $38.43. The company has a current ratio of 6.49, a quick ratio of 6.49 and a debt-to-equity ratio of 0.37. The company has a market cap of $563.30 million, a price-to-earnings ratio of -1.45 and a beta of -0.32.

Q32 Bio (NASDAQ:QTTB) last released its quarterly earnings data on Thursday, August 8th. The company reported ($1.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($0.42). Equities analysts forecast that Q32 Bio Inc. will post -11.76 earnings per share for the current fiscal year.

Institutional Trading of Q32 Bio

A number of hedge funds and other institutional investors have recently made changes to their positions in QTTB. Atlas Venture Life Science Advisors LLC acquired a new position in shares of Q32 Bio in the 1st quarter valued at $35,649,000. Carlyle Group Inc. acquired a new stake in Q32 Bio during the 1st quarter worth approximately $18,074,000. ARCH Venture Management LLC purchased a new position in shares of Q32 Bio in the 1st quarter valued at approximately $5,461,000. Harvard Management Co. Inc. acquired a new position in shares of Q32 Bio in the second quarter valued at approximately $2,925,000. Finally, Platinum Investment Management Ltd. purchased a new stake in shares of Q32 Bio during the first quarter worth approximately $1,874,000. Institutional investors and hedge funds own 31.32% of the company’s stock.

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.