Q32 Bio Inc. (NASDAQ:QTTB) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Q32 Bio Inc. (NASDAQ:QTTB) have been given a consensus rating of “Moderate Buy” by the five research firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $13.50.

QTTB has been the subject of several recent research reports. 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 target for the company. HC Wainwright reissued a “buy” rating and issued a $13.00 price target on shares of Q32 Bio in a research note on Tuesday, May 5th. Zacks Research downgraded shares of Q32 Bio from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. Cantor Fitzgerald initiated coverage on shares of Q32 Bio in a research note on Monday, May 18th. They issued 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 note on Monday, May 11th.

Insider Buying and Selling at Q32 Bio

In other news, Director Orbimed Advisors Llc acquired 1,875,000 shares of the stock in a transaction dated Thursday, May 28th. The stock was purchased at an average cost of $8.00 per share, with a total value of $15,000,000.00. Following the completion of the purchase, the director owned 3,502,987 shares in the company, valued at approximately $28,023,896. The trade was 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. Also, Director Diyong Xu acquired 1,875,000 shares of the stock in a transaction dated Thursday, May 28th. The shares were purchased at an average cost of $8.00 per share, with a total value of $15,000,000.00. Following the completion of the purchase, the director owned 3,502,987 shares of the company’s stock, valued at approximately $28,023,896. The trade was a 115.17% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 34.46% of the company’s stock.

Hedge Funds Weigh In On Q32 Bio

Several hedge funds and other institutional investors have recently modified their holdings of the company. Opaleye Management Inc. bought a new position in shares of Q32 Bio during the fourth quarter valued at about $708,000. Renaissance Technologies LLC raised its stake in shares of Q32 Bio by 107.7% during the first quarter. Renaissance Technologies LLC now owns 206,915 shares of the company’s stock valued at $1,328,000 after acquiring an additional 107,315 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Q32 Bio by 19.9% during the fourth quarter. Geode Capital Management LLC now owns 106,113 shares of the company’s stock valued at $352,000 after acquiring an additional 17,617 shares during the last quarter. Jane Street Group LLC bought a new position in Q32 Bio in the second quarter worth about $69,000. Finally, Goldman Sachs Group Inc. raised its stake in Q32 Bio by 140.9% in the first quarter. Goldman Sachs Group Inc. now owns 44,373 shares of the company’s stock worth $73,000 after buying an additional 25,953 shares in the last quarter. 31.32% of the stock is owned by institutional investors.

Q32 Bio Stock Up 1.7%

Shares of NASDAQ:QTTB opened at $12.86 on Tuesday. Q32 Bio has a 52-week low of $1.35 and a 52-week high of $14.85. The firm has a fifty day moving average of $7.65 and a 200 day moving average of $5.46. The firm has a market capitalization of $218.11 million, a PE ratio of 4.83 and a beta of 0.26. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.36 and a current ratio of 5.36.

Q32 Bio (NASDAQ:QTTB) last announced its earnings results on Tuesday, May 5th. The company reported ($0.54) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.14. As a group, research analysts anticipate that Q32 Bio will post -1.96 EPS 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.