Q32 Bio (NASDAQ:QTTB) Sees Strong Trading Volume

Q32 Bio Inc. (NASDAQ:QTTB) shares saw strong trading volume on Wednesday . Approximately 55,183 shares traded hands during mid-day trading, a decline of 12% from the previous session’s volume of 62,597 shares.The stock last traded at $48.05 and had previously closed at $47.93.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Guggenheim assumed coverage on shares of Q32 Bio in a research report on Monday, June 17th. They set a “buy” rating and a $100.00 price target for the company. Wells Fargo & Company began coverage on Q32 Bio in a research report on Wednesday, September 11th. They set an “overweight” rating and a $95.00 price target for the company. Leerink Partners initiated coverage on Q32 Bio in a report on Tuesday, May 21st. They issued an “outperform” rating and a $54.00 price objective on the stock. Finally, Leerink Partnrs upgraded Q32 Bio to a “strong-buy” rating in a report on Tuesday, May 21st. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $68.80.

Q32 Bio Stock Down 1.0 %

The firm has a 50 day moving average price of $37.42. 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 $566.65 million, a P/E ratio of -1.47 and a beta of -0.32.

Q32 Bio (NASDAQ:QTTB) last released 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). As a group, equities research analysts expect that Q32 Bio Inc. will post -11.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Q32 Bio

A number of institutional investors have recently added to or reduced their stakes in QTTB. Atlas Venture Life Science Advisors LLC acquired a new stake in shares of Q32 Bio during the first quarter valued at about $35,649,000. Vanguard Group Inc. acquired a new stake in Q32 Bio during the 1st quarter valued at approximately $1,836,000. Harvard Management Co. Inc. purchased a new stake in Q32 Bio during the 2nd quarter worth approximately $2,925,000. Acadian Asset Management LLC acquired a new position in shares of Q32 Bio in the 1st quarter valued at approximately $62,000. Finally, Ikarian Capital LLC purchased a new position in shares of Q32 Bio during the 1st quarter valued at approximately $381,000. 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.