Q32 Bio (NASDAQ:QTTB) Now Covered by Analysts at BMO Capital Markets

Equities researchers at BMO Capital Markets began coverage on shares of Q32 Bio (NASDAQ:QTTB) in a research note issued on Friday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $64.00 price target on the stock. BMO Capital Markets’ price target would suggest a potential upside of 146.91% from the company’s current price.

QTTB has been the topic of several other reports. Wells Fargo & Company started coverage on Q32 Bio in a report on Wednesday, September 11th. They set an “overweight” rating and a $95.00 target price on the stock. Raymond James initiated coverage on shares of Q32 Bio in a research report on Thursday, October 24th. They set a “strong-buy” rating and a $90.00 target price on the stock. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Q32 Bio has a consensus rating of “Buy” and an average price target of $71.14.

Q32 Bio Stock Up 9.4 %

Shares of NASDAQ QTTB opened at $25.92 on Friday. The stock has a fifty day moving average price of $39.89 and a 200 day moving average price of $34.72. The company has a current ratio of 6.53, a quick ratio of 6.53 and a debt-to-equity ratio of 0.61. Q32 Bio has a 12-month low of $9.54 and a 12-month high of $53.79. The company has a market cap of $315.71 million, a P/E ratio of -1.82 and a beta of -0.46.

Institutional Trading of Q32 Bio

Institutional investors have recently added to or reduced their stakes in the stock. Values First Advisors Inc. bought a new position in Q32 Bio during the 3rd quarter worth approximately $33,000. BNP Paribas Financial Markets raised its position in shares of Q32 Bio by 199.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,298 shares of the company’s stock valued at $58,000 after acquiring an additional 864 shares in the last quarter. MetLife Investment Management LLC bought a new position in Q32 Bio during the third quarter worth $159,000. Franklin Resources Inc. acquired a new position in Q32 Bio in the third quarter worth $225,000. Finally, Barclays PLC increased its stake in Q32 Bio by 105.2% during the third quarter. Barclays PLC now owns 10,443 shares of the company’s stock valued at $465,000 after purchasing an additional 5,353 shares during the last quarter. 31.32% of the stock is owned by institutional investors and hedge funds.

About Q32 Bio

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.