Q32 Bio (NASDAQ:QTTB) Stock Price Down 10.6% – Time to Sell?

Shares of Q32 Bio Inc. (NASDAQ:QTTB) were down 10.6% during mid-day trading on Thursday . The company traded as low as $12.31 and last traded at $12.59. Approximately 264,781 shares changed hands during mid-day trading, a decline of 21% from the average session volume of 333,662 shares. The stock had previously closed at $14.08.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on QTTB shares. Zacks Research lowered Q32 Bio from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. Mizuho initiated coverage on Q32 Bio in a research note on Friday, May 22nd. They issued an “outperform” rating and a $14.00 target price on the stock. Cantor Fitzgerald initiated coverage on Q32 Bio in a report on Monday, May 18th. They issued an “overweight” rating on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $13.00 price target on shares of Q32 Bio in a report on Tuesday, May 5th. Finally, Weiss Ratings upgraded 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 issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $13.50.

Q32 Bio Stock Down 10.6%

The company has a quick ratio of 5.36, a current ratio of 5.36 and a debt-to-equity ratio of 0.04. The stock has a 50-day simple moving average of $10.11 and a two-hundred day simple moving average of $6.69. The firm has a market cap of $213.53 million, a PE ratio of 4.73 and a beta of 0.24.

Q32 Bio (NASDAQ:QTTB) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.54) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.14. Analysts expect that Q32 Bio Inc. will post -1.96 earnings per share for the current year.

Insider Transactions at Q32 Bio

In other news, Director Orbimed Advisors Llc bought 1,875,000 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was acquired at an average price of $8.00 per share, with a total value of $15,000,000.00. Following the completion of the purchase, the director directly owned 3,502,987 shares in the company, valued at $28,023,896. This represents a 115.17% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Diyong Xu purchased 1,875,000 shares of Q32 Bio stock in a transaction on Thursday, May 28th. The shares were acquired at an average price of $8.00 per share, for a total transaction 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 approximately $28,023,896. The trade was a 115.17% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 34.46% of the company’s stock.

Institutional Investors Weigh In On Q32 Bio

A number of hedge funds have recently made changes to their positions in QTTB. Opaleye Management Inc. purchased a new stake in shares of Q32 Bio in the 4th quarter valued at $708,000. Renaissance Technologies LLC grew its holdings in shares of Q32 Bio by 107.7% during the 1st quarter. Renaissance Technologies LLC now owns 206,915 shares of the company’s stock valued at $1,328,000 after purchasing an additional 107,315 shares during the last quarter. Geode Capital Management LLC raised its position in Q32 Bio by 19.9% in the 4th quarter. Geode Capital Management LLC now owns 106,113 shares of the company’s stock worth $352,000 after purchasing an additional 17,617 shares during the period. Jane Street Group LLC purchased a new position in Q32 Bio in the 2nd quarter worth $69,000. Finally, Goldman Sachs Group Inc. lifted 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 purchasing an additional 25,953 shares during the last quarter. 31.32% of the stock is currently owned by institutional investors.

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.