Q32 Bio Inc. (NASDAQ:QTTB) Shares Acquired by State Street Corp

State Street Corp boosted its stake in Q32 Bio Inc. (NASDAQ:QTTB) by 35.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,164 shares of the company’s stock after acquiring an additional 28,865 shares during the period. State Street Corp’s holdings in Q32 Bio were worth $4,916,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. FMR LLC increased its position in shares of 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 purchasing an additional 246,664 shares during the last quarter. Eventide Asset Management LLC acquired a new position in Q32 Bio in the third quarter worth about $8,478,000. Harvard Management Co. Inc. bought a new stake in Q32 Bio in the second quarter valued at about $2,925,000. Point72 Asset Management L.P. acquired a new stake in Q32 Bio during the third quarter valued at approximately $3,422,000. Finally, Ensign Peak Advisors Inc lifted its holdings in Q32 Bio by 150.6% during 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. 31.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Q32 Bio Stock Performance

QTTB stock opened at $3.36 on Monday. Q32 Bio Inc. has a 1 year low of $3.02 and a 1 year high of $53.79. The stock has a market capitalization of $40.93 million, a price-to-earnings ratio of -0.24 and a beta of -0.46. The company has a debt-to-equity ratio of 0.61, a quick ratio of 6.53 and a current ratio of 6.53. The stock’s fifty day moving average is $28.00 and its two-hundred day moving average is $32.83.

Q32 Bio 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.