Q32 Bio Inc. (NASDAQ:QTTB) Stock Has Average Price Target of $32.17 According to Analysts

Key Points

• Analysts have a “Moderate Buy” consensus on Q32 Bio, with six buy ratings, one strong-buy rating, and two holds. The average 12-month price target is $32.17, including targets of $36 from HC Wainwright and $40 from Leerink Partners.
• Institutional ownership stands at 31.32%, with investors including Atlas Venture, Renaissance Technologies, BlackRock, and Carlyle Group recently increasing or initiating positions.
• Q32 Bio shares opened at $7.79, well below the analyst target and their 52-week high of $23.57. The clinical-stage biotech focuses on immune-regulation therapies, led by its bempikibart (ADX-914) antibody candidate.

Shares of Q32 Bio Inc. (NASDAQ:QTTB - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the nine analysts that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $32.17.

Several research firms recently weighed in on QTTB. HC Wainwright increased 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. Leerink Partners started coverage on Q32 Bio in a report on Monday, October 12th. They issued an "outperform" rating and a $40.00 price target for the company. Weiss Ratings upgraded Q32 Bio from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, August 21st. Mizuho upgraded Q32 Bio to a "strong-buy" rating in a research note on Monday, September 7th. Finally, Oppenheimer reaffirmed an "outperform" rating on shares of Q32 Bio in a research report on Thursday, October 1st.

Insider Buying and Selling at Q32 Bio

In other news, CFO Lee Kalowski sold 3,972 shares of the firm's stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $16.56, for a total transaction of $65,776.32. Following the completion of the transaction, the chief financial officer directly 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 firm's stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $16.56, for a total transaction of $46,334.88. Following the transaction, the insider directly owned 127,771 shares of the company's stock, valued at $2,115,887.76. The trade was a 2.14% decrease in their ownership of the stock. 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 have sold 22,054 shares of company stock valued at $320,397 in the last 90 days. 34.46% of the stock is currently owned by company insiders.

Institutional Trading of Q32 Bio

A number of institutional investors and hedge funds have recently added to or reduced their stakes in QTTB. Atlas Venture Life Science Advisors LLC raised its position in Q32 Bio by 29.9% in the second quarter. Atlas Venture Life Science Advisors LLC now owns 2,717,106 shares of the company's stock worth $34,616,000 after purchasing an additional 625,000 shares in the last quarter. Renaissance Technologies LLC lifted its position 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 buying an additional 107,315 shares during the period. BlackRock Inc. acquired a new stake in Q32 Bio in the 2nd quarter valued at $1,510,000. Carlyle Group Inc. acquired a new stake in Q32 Bio in the 2nd quarter valued at $769,000. Finally, ADAR1 Capital Management LLC boosted its stake in Q32 Bio by 75.0% in the 1st quarter. ADAR1 Capital Management LLC now owns 35,000 shares of the company's stock valued at $225,000 after buying an additional 15,000 shares in the last quarter. Institutional investors own 31.32% of the company's stock.

Q32 Bio Trading Up 3.6%

Shares of QTTB stock opened at $7.79 on Tuesday. The firm has a market capitalization of $231.91 million, a P/E ratio of 2.60 and a beta of 0.31. Q32 Bio has a 1 year low of $1.90 and a 1 year high of $23.57. The firm's fifty day simple moving average is $11.60 and its 200 day simple moving average is $10.91.

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

About Q32 Bio

Q32 Bio is a clinical-stage biotechnology company focused on developing therapies designed to restore immune homeostasis and address diseases driven by immune dysregulation. The company's approach targets pathways involved in the transforming growth factor beta superfamily, which plays a role in regulating inflammation, tissue repair and immune responses.

Q32 Bio's lead product candidate is bempikibart, also known as ADX-914, a fully human monoclonal antibody designed to modulate immune activity through selective targeting of the activin receptor type IIA pathway.

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