Bank of New York Mellon Corp Invests $315,000 in Q32 Bio Inc. (NASDAQ:QTTB)

Bank of New York Mellon Corp bought a new stake in Q32 Bio Inc. (NASDAQ:QTTB) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 17,569 shares of the company’s stock, valued at approximately $315,000. Bank of New York Mellon Corp owned about 0.15% of Q32 Bio as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Atlas Venture Life Science Advisors LLC purchased a new position in shares of Q32 Bio during the first quarter worth about $35,649,000. Carlyle Group Inc. purchased a new stake in Q32 Bio during the first quarter worth $18,074,000. ARCH Venture Management LLC purchased a new position in shares of Q32 Bio during the 1st quarter worth approximately $5,461,000. Platinum Investment Management Ltd. purchased a new position in Q32 Bio in the 1st quarter valued at about $1,874,000. Finally, Vanguard Group Inc. purchased a new position in shares of Q32 Bio during the 1st quarter worth $1,836,000. Hedge funds and other institutional investors own 31.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Guggenheim assumed coverage on Q32 Bio in a research note on Monday, June 17th. They issued a “buy” rating and a $100.00 price objective on the stock. Wells Fargo & Company initiated coverage on shares of Q32 Bio in a research report on Wednesday, September 11th. They set an “overweight” rating and a $95.00 price target on the stock. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $68.80.

Q32 Bio Stock Up 0.1 %

QTTB stock opened at $44.40 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 6.49 and a current ratio of 6.49. The business has a 50-day moving average price of $39.60. The firm has a market cap of $535.46 million, a PE ratio of -1.36 and a beta of -0.32. Q32 Bio Inc. has a fifty-two week low of $8.24 and a fifty-two week high of $53.79.

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

Q32 Bio 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.