Q32 Bio (NASDAQ:QTTB) Director Diyong Xu Buys 1,875,000 Shares

Q32 Bio Inc. (NASDAQ:QTTB) Director Diyong Xu bought 1,875,000 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were bought at an average cost of $8.00 per share, with a total value of $15,000,000.00. Following the purchase, the director directly owned 3,502,987 shares in the company, valued at approximately $28,023,896. This trade represents a 115.17% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Q32 Bio Stock Up 5.5%

QTTB stock opened at $11.66 on Tuesday. The company has a current ratio of 5.36, a quick ratio of 5.36 and a debt-to-equity ratio of 0.04. Q32 Bio Inc. has a 1 year low of $1.35 and a 1 year high of $13.15. The company has a fifty day simple moving average of $6.45 and a 200 day simple moving average of $4.72. The firm has a market cap of $197.75 million, a PE ratio of 4.38 and a beta of 0.26.

Q32 Bio (NASDAQ:QTTB) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.14. Sell-side analysts anticipate that Q32 Bio Inc. will post -1.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in QTTB. AQR Capital Management LLC bought a new position in shares of Q32 Bio during the 1st quarter worth about $68,000. Goldman Sachs Group Inc. increased its holdings in shares of Q32 Bio by 140.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 44,373 shares of the company’s stock worth $73,000 after purchasing an additional 25,953 shares during the period. Acadian Asset Management LLC bought a new position in shares of Q32 Bio during the 1st quarter worth about $50,000. Marshall Wace LLP bought a new position in shares of Q32 Bio during the 2nd quarter worth about $25,000. Finally, Jane Street Group LLC bought a new position in shares of Q32 Bio during the 2nd quarter worth about $69,000. Institutional investors own 31.32% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Zacks Research lowered shares of Q32 Bio from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. HC Wainwright reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Q32 Bio in a research note on Tuesday, May 5th. Mizuho initiated coverage on shares of Q32 Bio in a research note on Friday, May 22nd. They issued an “outperform” rating and a $14.00 price objective for the company. Cantor Fitzgerald initiated coverage on shares of Q32 Bio in a research report on Monday, May 18th. They set an “overweight” rating for the company. Finally, Weiss Ratings raised shares of Q32 Bio from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.50.

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.