Shares of Q32 Bio Inc. (NASDAQ:QTTB - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the seven analysts that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $31.00.
Several analysts have recently commented on the stock. Morgan Stanley began coverage on shares of Q32 Bio in a report on Monday, August 24th. They issued an "overweight" rating and a $34.00 price objective on the stock. Mizuho started coverage on shares of Q32 Bio in a research report on Friday, May 22nd. They set an "outperform" rating and a $14.00 target price for the company. Oppenheimer upped their price target on shares of Q32 Bio from $20.00 to $40.00 and gave the company an "outperform" rating in a report on Monday, July 13th. Weiss Ratings raised Q32 Bio from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, August 21st. Finally, HC Wainwright lifted their price objective on Q32 Bio from $13.00 to $36.00 and gave the company a "buy" rating in a research note on Tuesday, July 28th.
Read Our Latest Stock Analysis on QTTB
Insider Buying and Selling
In other Q32 Bio news, CEO Jodie Pope Morrison sold 9,845 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 $163,033.20. Following the completion of the transaction, the chief executive officer directly owned 343,259 shares of the company's stock, valued at approximately $5,684,369.04. The trade was a 2.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Shelia M. Violette sold 2,798 shares of the company'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 owned 127,771 shares in the company, valued at approximately $2,115,887.76. This represents a 2.14% decrease in their position. 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. Insiders have sold a total of 16,615 shares of company stock valued at $275,144 over the last ninety days. Company insiders own 34.46% of the company's stock.
Hedge Funds Weigh In On Q32 Bio
Several large investors have recently made changes to their positions in the company. Marshall Wace LLP purchased a new position in Q32 Bio in the second quarter valued at $25,000. ADAR1 Capital Management LLC purchased a new stake in shares of Q32 Bio during the 4th quarter worth about $66,000. XTX Topco Ltd purchased a new stake in shares of Q32 Bio during the 4th quarter worth about $68,000. Cetera Investment Advisers acquired a new stake in shares of Q32 Bio during the 1st quarter valued at about $133,000. Finally, Susquehanna International Group LLP acquired a new stake in shares of Q32 Bio during the 2nd quarter valued at about $297,000. 31.32% of the stock is currently owned by institutional investors and hedge funds.
Q32 Bio Stock Performance
Shares of QTTB stock opened at $15.03 on Monday. Q32 Bio has a fifty-two week low of $1.62 and a fifty-two week high of $23.57. The firm has a market capitalization of $447.44 million, a PE ratio of 5.01 and a beta of 0.23. The stock's 50-day simple moving average is $14.90 and its 200-day simple moving average is $9.75.
Q32 Bio (NASDAQ:QTTB - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($0.44) EPS for the quarter, topping analysts' consensus estimates of ($0.46) by $0.02. Sell-side analysts forecast that Q32 Bio will post -1.51 earnings per share for the current year.
About Q32 Bio
(
Get Free Report)
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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