Raymond James began coverage on shares of Q32 Bio (NASDAQ:QTTB – Free Report) in a research report released on Thursday morning, MarketBeat.com reports. The brokerage issued a strong-buy rating and a $90.00 price objective on the stock.
Separately, Wells Fargo & Company assumed coverage on shares of Q32 Bio in a research report on Wednesday, September 11th. They set an “overweight” rating and a $95.00 price objective on the stock. Five analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $72.33.
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Q32 Bio Trading Up 6.2 %
Q32 Bio (NASDAQ:QTTB – Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($1.42) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.42). Sell-side analysts predict that Q32 Bio will post -11.76 EPS for the current year.
Institutional Investors Weigh In On Q32 Bio
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QTTB. Values First Advisors Inc. purchased a new position in shares of Q32 Bio during the 3rd quarter valued at $33,000. Acadian Asset Management LLC purchased a new position in Q32 Bio in the first quarter valued at about $62,000. Rhumbline Advisers increased its position in Q32 Bio by 11,681.5% in the 2nd 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 last quarter. Renaissance Technologies LLC acquired a new position in Q32 Bio in the 2nd quarter worth about $265,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Q32 Bio during the 2nd quarter worth about $315,000. Hedge funds and other institutional investors 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.
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