Q32 Bio (NASDAQ:QTTB) Director Orbimed Advisors Llc Buys 1,875,000 Shares

Q32 Bio Inc. (NASDAQ:QTTB) Director Orbimed Advisors Llc acquired 1,875,000 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was purchased at an average price of $8.00 per share, with a total value of $15,000,000.00. Following the completion of the transaction, the director directly owned 3,502,987 shares of the company’s stock, valued at $28,023,896. This trade represents a 115.17% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Q32 Bio Price Performance

QTTB stock opened at $11.66 on Tuesday. The firm has a 50 day moving average of $6.45 and a 200-day moving average of $4.72. 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 12 month low of $1.35 and a 12 month high of $13.15. The firm has a market capitalization of $197.75 million, a P/E 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) EPS for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.14. As a group, sell-side analysts predict that Q32 Bio Inc. will post -1.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Q32 Bio

Several institutional investors and hedge funds have recently made changes to their positions in QTTB. Opaleye Management Inc. bought a new position in shares of Q32 Bio during the 4th quarter valued at $708,000. Renaissance Technologies LLC increased its stake in shares of Q32 Bio by 107.7% in the first quarter. Renaissance Technologies LLC now owns 206,915 shares of the company’s stock worth $1,328,000 after buying an additional 107,315 shares during the period. Jane Street Group LLC purchased a new position in shares of Q32 Bio in the second quarter worth $69,000. AQR Capital Management LLC purchased a new position in shares of Q32 Bio in the first quarter worth $68,000. Finally, Two Sigma Investments LP purchased a new position in shares of Q32 Bio in the third quarter worth $62,000. Institutional investors own 31.32% of the company’s stock.

Analysts Set New Price Targets

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