Brokerages Set Q32 Bio Inc. (NASDAQ:QTTB) PT at $13.50

Q32 Bio Inc. (NASDAQ:QTTB) has earned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $22.3333.

Several brokerages have issued reports on QTTB. Oppenheimer boosted their target price on Q32 Bio from $20.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday. HC Wainwright reissued a “buy” rating and set a $13.00 price target on shares of Q32 Bio in a research note on Tuesday, May 5th. Weiss Ratings upgraded Q32 Bio from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Cantor Fitzgerald started coverage on Q32 Bio in a research report on Monday, May 18th. They issued an “overweight” rating on the stock. Finally, Mizuho began coverage on shares of Q32 Bio in a research note on Friday, May 22nd. They issued an “outperform” rating and a $14.00 target price on the stock.

Insiders Place Their Bets

In other Q32 Bio news, Director Diyong Xu acquired 1,875,000 shares of the business’s stock in a transaction that occurred 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 completion of the acquisition, the director directly owned 3,502,987 shares in the company, valued at $28,023,896. This represents a 115.17% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Orbimed Advisors Llc purchased 1,875,000 shares of the stock in a transaction dated Thursday, May 28th. The stock was purchased at an average price of $8.00 per share, for a total transaction of $15,000,000.00. Following the completion of the acquisition, the director directly owned 3,502,987 shares in the company, valued at approximately $28,023,896. This represents a 115.17% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 34.46% of the company’s stock.

Institutional Investors Weigh In On Q32 Bio

Institutional investors and hedge funds have recently modified their holdings of the company. AQR Capital Management LLC purchased a new position in shares of Q32 Bio during the 1st quarter valued at approximately $68,000. Goldman Sachs Group Inc. raised its position in 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 acquired a new position in shares of Q32 Bio during the 1st quarter worth about $50,000. Marshall Wace LLP acquired a new position in shares of Q32 Bio during the 2nd quarter worth about $25,000. Finally, Jane Street Group LLC purchased a new position in Q32 Bio in the 2nd quarter valued at about $69,000. Institutional investors and hedge funds own 31.32% of the company’s stock.

Key Q32 Bio News

Here are the key news stories impacting Q32 Bio this week:

• Positive Sentiment: Q32 Bio reported positive 36-week topline results from its SIGNAL-AA trial, with meaningful hair-regrowth efficacy and a well-tolerated safety profile, strengthening the case for bempikibart in alopecia areata. Q32 Bio Announces Positive 36-Week Topline Results from Part B of the SIGNAL-AA Clinical Trial of Bempikibart in Alopecia Areata
• Positive Sentiment: Wall Street reaction has been upbeat, with multiple reports highlighting that the trial data exceeded expectations and sparked a strong re-rating of the stock. Q32 Bio Shares Jump 60% After Positive Mid-Stage Alopecia Trial Results (QTTB)
• Neutral Sentiment: Analysts and commentators are debating whether the recent rally has already priced in the good news, with some articles suggesting the shares may be fairly valued after the surge. Q32 Bio (QTTB) After Positive Trial Data Is It A Buy Or Already Fairly Valued
• Negative Sentiment: Q32 Bio also announced a $200 million public offering of common stock and pre-funded warrants, which could dilute existing shareholders and weigh on sentiment despite the clinical progress. Q32 Bio Announces Proposed Public Offering of Common Stock and Pre-Funded Warrants

Q32 Bio Price Performance

NASDAQ:QTTB opened at $18.46 on Friday. The business’s 50-day moving average is $10.81 and its 200 day moving average is $6.98. Q32 Bio has a 12 month low of $1.57 and a 12 month high of $23.57. The company has a market capitalization of $313.08 million, a P/E ratio of 6.94 and a beta of 0.24. 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 (NASDAQ:QTTB) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.54) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.14. On average, equities research analysts forecast that Q32 Bio will post -1.96 earnings per share for the current fiscal year.

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.