Q32 Bio (NASDAQ:QTTB) Stock Rating Upgraded by Mizuho

Key Points

• Mizuho upgraded Q32 Bio to “strong buy,” while the analyst consensus remains “Moderate Buy” with an average price target of $31.00. Morgan Stanley and Cantor Fitzgerald also initiated coverage with “overweight” ratings, and HC Wainwright raised its target to $36.00.
• Q32 Bio shares opened at $11.69, down 2.5%, with a market capitalization of approximately $348 million. The company reported a quarterly loss of $0.44 per share, beating estimates by $0.02, while analysts project a full-year loss of $1.51 per share.
• Insiders sold shares worth about $275,000 over the past three months, primarily to cover tax withholding on vested equity awards. Institutional ownership stands at 31.32%, with investors including Atlas Venture and Renaissance Technologies increasing their stakes.

Q32 Bio (NASDAQ:QTTB - Get Free Report) was upgraded by research analysts at Mizuho to a "strong-buy" rating in a report released on Monday, Zacks reports.

Several other analysts also recently commented on QTTB. Cantor Fitzgerald started coverage on Q32 Bio in a research note on Monday, May 18th. They set an "overweight" rating on the stock. HC Wainwright boosted their target price on 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 Q32 Bio from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, August 21st. Zacks Research lowered shares of Q32 Bio from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 18th. Finally, Morgan Stanley started coverage on shares of Q32 Bio in a report on Monday, August 24th. They issued an "overweight" rating and a $34.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $31.00.

Q32 Bio Trading Down 2.5%

Shares of QTTB opened at $11.69 on Monday. The stock has a market cap of $348.00 million, a P/E ratio of 3.90 and a beta of 0.21. The stock's 50-day moving average price is $14.97 and its two-hundred day moving average price is $10.20. Q32 Bio has a 1 year low of $1.69 and a 1 year high of $23.57.

Q32 Bio (NASDAQ:QTTB - Get Free Report) last released its quarterly earnings data 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. As a group, equities analysts forecast that Q32 Bio will post -1.51 EPS for the current year.

Insider Transactions at Q32 Bio

In other news, insider Shelia Violette sold 2,798 shares of the firm's stock in a transaction dated 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 transaction, the insider owned 127,771 shares in the company, valued at $2,115,887.76. This trade represents a 2.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jodie Morrison sold 9,845 shares of the company's stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $16.56, for a total value of $163,033.20. Following the sale, the chief executive officer owned 343,259 shares in the company, valued at $5,684,369.04. The trade was a 2.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 16,615 shares of company stock worth $275,144 in the last three months. Insiders own 34.46% of the company's stock.

Institutional Trading of Q32 Bio

Several institutional investors and hedge funds have recently added to or reduced their stakes in QTTB. Renaissance Technologies LLC increased its stake 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 worth $1,328,000 after purchasing an additional 107,315 shares during the last quarter. Atlas Venture Life Science Advisors LLC lifted its stake 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 valued at $34,616,000 after purchasing an additional 625,000 shares during the last quarter. BlackRock Inc. acquired a new stake in Q32 Bio in the 2nd quarter valued at about $1,510,000. Carlyle Group Inc. bought a new position in Q32 Bio during the second quarter worth about $769,000. Finally, Susquehanna International Group LLP bought a new position in Q32 Bio during the second quarter worth about $297,000. 31.32% of the stock is 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.

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