Renaissance Technologies LLC Buys Shares of 14,764 Q32 Bio Inc. (NASDAQ:QTTB)

Renaissance Technologies LLC purchased a new position in shares of Q32 Bio Inc. (NASDAQ:QTTB) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 14,764 shares of the company’s stock, valued at approximately $265,000.

A number of other hedge funds also recently modified their holdings of QTTB. Acadian Asset Management LLC purchased a new stake in Q32 Bio in the first quarter worth $62,000. Rhumbline Advisers grew its stake in shares of Q32 Bio by 11,681.5% during the 2nd quarter. Rhumbline Advisers now owns 7,658 shares of the company’s stock worth $137,000 after acquiring an additional 7,593 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Q32 Bio during the 2nd quarter worth $315,000. Ikarian Capital LLC purchased a new stake in Q32 Bio in the 1st quarter worth about $381,000. Finally, Affinity Asset Advisors LLC bought a new stake in Q32 Bio in the 1st quarter valued at about $473,000. Institutional investors own 31.32% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Q32 Bio Stock Up 2.9 %

QTTB stock opened at $48.55 on Friday. Q32 Bio Inc. has a twelve month low of $8.24 and a twelve month high of $53.79. The firm has a market capitalization of $585.51 million, a PE ratio of -2.11 and a beta of -0.32. The company has a quick ratio of 6.49, a current ratio of 6.49 and a debt-to-equity ratio of 0.37. The stock has a 50-day simple moving average of $42.33 and a two-hundred day simple moving average of $30.98.

Q32 Bio (NASDAQ:QTTB) last posted its 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). On average, equities analysts predict that Q32 Bio Inc. will post -11.76 EPS for the current fiscal year.

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.