Q32 Bio Inc. (NASDAQ:QTTB) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Q32 Bio Inc. (NASDAQ:QTTB) have been assigned a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $29.86.

A number of research firms recently weighed in on QTTB. Raymond James reissued an “outperform” rating and set a $22.00 price target (down from $90.00) on shares of Q32 Bio in a research report on Wednesday, December 11th. Leerink Partners restated a “market perform” rating and issued a $9.00 target price (down previously from $68.00) on shares of Q32 Bio in a research note on Wednesday, December 11th. BMO Capital Markets decreased their price target on Q32 Bio from $64.00 to $22.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Piper Sandler cut their price objective on Q32 Bio from $85.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 11th. Finally, Leerink Partnrs lowered Q32 Bio from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th.

Hedge Funds Weigh In On Q32 Bio

A number of institutional investors and hedge funds have recently modified their holdings of QTTB. Values First Advisors Inc. purchased a new position in Q32 Bio during the third quarter worth $33,000. BNP Paribas Financial Markets lifted its holdings in shares of Q32 Bio by 199.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,298 shares of the company’s stock worth $58,000 after acquiring an additional 864 shares during the last quarter. MetLife Investment Management LLC bought a new position in Q32 Bio during the 3rd quarter valued at about $159,000. Franklin Resources Inc. purchased a new stake in Q32 Bio in the 3rd quarter worth about $225,000. Finally, Rhumbline Advisers lifted its stake in Q32 Bio by 11,681.5% in the second 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. Hedge funds and other institutional investors own 31.32% of the company’s stock.

Q32 Bio Trading Up 2.5 %

NASDAQ QTTB opened at $3.31 on Friday. The company has a current ratio of 6.53, a quick ratio of 6.53 and a debt-to-equity ratio of 0.61. The business has a fifty day simple moving average of $31.66 and a 200 day simple moving average of $33.30. Q32 Bio has a 12 month low of $3.02 and a 12 month high of $53.79. The firm has a market capitalization of $40.32 million, a P/E ratio of -0.23 and a beta of -0.46.

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.