Q32 Bio Inc. (NASDAQ:QTTB) Short Interest Up 55.8% in December

Q32 Bio Inc. (NASDAQ:QTTB) was the target of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 1,120,000 shares, a growth of 55.8% from the November 30th total of 719,100 shares. Currently, 24.2% of the shares of the company are sold short. Based on an average trading volume of 279,800 shares, the days-to-cover ratio is presently 4.0 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on QTTB shares. Wells Fargo & Company reiterated an “equal weight” rating and issued a $16.00 price objective (down previously from $95.00) on shares of Q32 Bio in a research report on Wednesday, December 11th. Leerink Partners reiterated a “market perform” rating and set a $9.00 price target (down previously from $68.00) on shares of Q32 Bio in a research report on Wednesday, December 11th. BMO Capital Markets lowered their target price on shares of Q32 Bio from $64.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Oppenheimer cut their price target on shares of Q32 Bio from $80.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, December 11th. Finally, Leerink Partnrs cut shares of Q32 Bio from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Q32 Bio currently has an average rating of “Moderate Buy” and an average target price of $29.86.

Q32 Bio Trading Down 6.5 %

Shares of NASDAQ:QTTB traded down $0.22 on Monday, hitting $3.14. The company had a trading volume of 270,715 shares, compared to its average volume of 124,485. The firm’s 50-day simple moving average is $28.00 and its two-hundred day simple moving average is $32.83. The company has a quick ratio of 6.53, a current ratio of 6.53 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $38.25 million, a price-to-earnings ratio of -0.22 and a beta of -0.46. Q32 Bio has a 1 year low of $3.02 and a 1 year high of $53.79.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of QTTB. Point72 Asset Management L.P. bought a new stake in Q32 Bio in the third quarter worth $3,422,000. FMR LLC increased its holdings in Q32 Bio by 137.3% in the 3rd quarter. FMR LLC now owns 426,302 shares of the company’s stock worth $19,022,000 after buying an additional 246,664 shares in the last quarter. Ensign Peak Advisors Inc raised its position in Q32 Bio by 150.6% in the 2nd quarter. Ensign Peak Advisors Inc now owns 64,481 shares of the company’s stock worth $1,157,000 after buying an additional 38,750 shares during the last quarter. Harvard Management Co. Inc. bought a new position in Q32 Bio during the 2nd quarter valued at about $2,925,000. Finally, Bank of New York Mellon Corp bought a new position in Q32 Bio during the second quarter valued at approximately $315,000. 31.32% of the stock is owned by hedge funds and other 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.