Q32 Bio (NASDAQ:QTTB) Stock Rating Upgraded by Jefferies Financial Group

Key Points

• Jefferies upgraded Q32 Bio to “strong buy,” joining Mizuho and other bullish analysts. The stock has an average “Buy” rating and an average price target of $30.60.
• Q32 Bio shares opened at $9.23, compared with a 52-week range of $1.83 to $23.57; the company has a market capitalization of approximately $274.8 million.
• The clinical-stage biotechnology company reported a quarterly loss of $0.44 per share, beating estimates by $0.02. Insiders own 34.46% of the stock, while institutional investors own 31.32%.

Q32 Bio (NASDAQ:QTTB - Get Free Report) was upgraded by equities researchers at Jefferies Financial Group to a "strong-buy" rating in a report issued on Monday, Zacks reports.

A number of other equities analysts also recently commented on the company. Mizuho upgraded Q32 Bio to a "strong-buy" rating in a report on Monday, September 7th. HC Wainwright lifted their target price on shares of Q32 Bio from $13.00 to $36.00 and gave the company a "buy" rating in a research note on Tuesday, July 28th. Weiss Ratings raised shares of Q32 Bio from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, August 21st. Morgan Stanley started coverage on shares of Q32 Bio in a research report on Monday, August 24th. They issued an "overweight" rating and a $34.00 target price for the company. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Q32 Bio in a research note on Wednesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $30.60.

Q32 Bio Price Performance

Shares of NASDAQ QTTB opened at $9.23 on Monday. The business's 50-day moving average price is $13.80 and its two-hundred day moving average price is $10.75. Q32 Bio has a one year low of $1.83 and a one year high of $23.57. The company has a market capitalization of $274.78 million, a P/E ratio of 3.08 and a beta of 0.21.

Q32 Bio (NASDAQ:QTTB - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($0.46) by $0.02. On average, equities analysts anticipate that Q32 Bio will post -1.54 EPS for the current year.

Insider Activity

In related news, insider Shelia M. Violette sold 2,798 shares of the business's stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $16.56, for a total value of $46,334.88. Following the completion of the sale, the insider directly owned 127,771 shares in the company, valued at approximately $2,115,887.76. The trade was a 2.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Lee Kalowski sold 3,972 shares of the business's stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $16.56, for a total value of $65,776.32. Following the completion of the sale, the chief financial officer owned 138,471 shares of the company's stock, valued at approximately $2,293,079.76. This trade represents a 2.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 16,615 shares of company stock valued at $275,144. Insiders own 34.46% of the company's stock.

Hedge Funds Weigh In On Q32 Bio

A number of institutional investors have recently modified their holdings of the company. Squarepoint Ops LLC bought a new stake in shares of Q32 Bio during the 2nd quarter worth $303,000. Atlas Venture Life Science Advisors LLC raised its holdings in Q32 Bio by 29.9% in the 2nd quarter. Atlas Venture Life Science Advisors LLC now owns 2,717,106 shares of the company's stock worth $34,616,000 after acquiring an additional 625,000 shares during the period. Susquehanna International Group LLP acquired a new position in Q32 Bio during the 2nd quarter worth $297,000. Carlyle Group Inc. bought a new stake in Q32 Bio during the second quarter valued at about $769,000. Finally, BlackRock Inc. acquired a new stake in shares of Q32 Bio in the second quarter valued at about $1,510,000. Institutional investors own 31.32% of the company's stock.

About Q32 Bio

Q32 Bio Inc is a clinical-stage biotechnology company focused on developing therapies for diseases associated with immune dysregulation. The company's research is aimed at restoring balance in the immune system by targeting biological pathways involved in inflammation, tissue repair and immune regulation.

Q32 Bio's lead product candidate is bempikibart, also known as ADX-914, a fully human monoclonal antibody designed to inhibit activin A signaling through the activin receptor type IIB pathway.

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