HC Wainwright Begins Coverage on Q32 Bio (NASDAQ:QTTB)

Equities researchers at HC Wainwright assumed coverage on shares of Q32 Bio (NASDAQ:QTTB) in a report issued on Wednesday, MarketBeat Ratings reports. The firm set a “buy” rating and a $13.00 price target on the stock. HC Wainwright’s price target would indicate a potential upside of 173.11% from the company’s current price. HC Wainwright also issued estimates for Q32 Bio’s FY2029 earnings at ($0.18) EPS and FY2030 earnings at $0.11 EPS.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Q32 Bio in a research note on Friday, January 9th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $14.00.

Q32 Bio Trading Up 0.6%

Shares of NASDAQ QTTB opened at $4.76 on Wednesday. Q32 Bio has a 12-month low of $1.35 and a 12-month high of $6.37. The firm has a market capitalization of $58.55 million, a price-to-earnings ratio of -1.38 and a beta of 0.16. The firm has a 50 day moving average of $3.78 and a 200 day moving average of $2.88.

Insider Buying and Selling at Q32 Bio

In related news, CEO Jodie Pope Morrison sold 22,506 shares of the stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $3.46, for a total transaction of $77,870.76. Following the completion of the sale, the chief executive officer owned 99,000 shares in the company, valued at approximately $342,540. This trade represents a 18.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Lee Kalowski sold 9,072 shares of Q32 Bio stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $3.46, for a total value of $31,389.12. Following the sale, the chief financial officer directly owned 39,938 shares in the company, valued at $138,185.48. This trade represents a 18.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 40.00% of the company’s stock.

Institutional Trading of Q32 Bio

Large investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC purchased a new position in Q32 Bio in the 1st quarter worth about $68,000. Goldman Sachs Group Inc. increased its position in shares of Q32 Bio by 140.9% during the first quarter. Goldman Sachs Group Inc. now owns 44,373 shares of the company’s stock worth $73,000 after acquiring an additional 25,953 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Q32 Bio during the first quarter valued at approximately $50,000. Monaco Asset Management SAM boosted its holdings in shares of Q32 Bio by 17.1% in the second quarter. Monaco Asset Management SAM now owns 591,937 shares of the company’s stock valued at $882,000 after purchasing an additional 86,486 shares during the period. Finally, Marshall Wace LLP purchased a new stake in shares of Q32 Bio in the second quarter valued at approximately $25,000. Institutional investors own 31.32% of the company’s stock.

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.