Q32 Bio Inc. (NASDAQ:QTTB) Receives Consensus Rating of “Buy” from Analysts

Q32 Bio Inc. (NASDAQ:QTTB) has received an average recommendation of “Buy” from the six brokerages that are covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $68.80.

Several equities analysts recently issued reports on QTTB shares. Guggenheim began coverage on shares of Q32 Bio in a report on Monday, June 17th. They issued a “buy” rating and a $100.00 target price on the stock. Wells Fargo & Company started coverage on Q32 Bio in a report on Wednesday, September 11th. They set an “overweight” rating and a $95.00 price objective for the company.

Q32 Bio Price Performance

NASDAQ QTTB opened at $47.20 on Friday. The stock’s 50-day simple moving average is $41.93. The firm has a market capitalization of $563.66 million, a price-to-earnings ratio of -1.45 and a beta of -0.32. The company has a debt-to-equity ratio of 0.37, a quick ratio of 6.49 and a current ratio of 6.49. Q32 Bio has a one year low of $8.24 and a one year high of $53.79.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QTTB. Acadian Asset Management LLC purchased a new stake in shares of Q32 Bio during the first quarter valued at $62,000. Rhumbline Advisers lifted its holdings in shares of Q32 Bio by 11,681.5% during the second quarter. Rhumbline Advisers now owns 7,658 shares of the company’s stock worth $137,000 after purchasing an additional 7,593 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Q32 Bio in the 2nd quarter valued at $265,000. Bank of New York Mellon Corp acquired a new stake in Q32 Bio during the 2nd quarter worth about $315,000. Finally, Ikarian Capital LLC acquired a new stake in Q32 Bio during the first quarter worth about $381,000. 31.32% of the stock is currently 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.