Q32 Bio Inc. (NASDAQ:QTTB) Stock Has Average Target Price of $31.00

Key Points

• Analysts maintain a Moderate Buy consensus on Q32 Bio, with four buy ratings, one strong buy and two holds. The average 12-month price target is $31.00, well above the stock’s reported $9.22 price.
• Q32 Bio insiders sold 16,615 shares worth approximately $275,000 over the past three months, with the CEO and CFO saying their sales covered tax obligations tied to vested equity awards. Insiders still own 34.46% of the company, while institutional investors own 31.32%.
• The clinical-stage biotechnology company reported a quarterly loss of $0.44 per share, beating the consensus estimate of a $0.46 loss. Analysts expect a full-year loss of approximately $1.54 per share.

Q32 Bio Inc. (NASDAQ:QTTB - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $31.00.

A number of equities research analysts have commented on QTTB shares. Morgan Stanley started coverage on shares of Q32 Bio in a report on Monday, August 24th. They set an "overweight" rating and a $34.00 price objective on the stock. HC Wainwright increased their price objective on Q32 Bio from $13.00 to $36.00 and gave the company a "buy" rating in a research report on Tuesday, July 28th. Oppenheimer lifted their target price on Q32 Bio from $20.00 to $40.00 and gave the company an "outperform" rating in a research note on Monday, July 13th. Weiss Ratings upgraded Q32 Bio from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, August 21st. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Q32 Bio in a research note on Wednesday, September 16th.

Insider Buying and Selling

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 value of $65,776.32. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 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 $163,033.20. Following the completion of the transaction, the chief executive officer directly owned 343,259 shares in the company, valued at $5,684,369.04. This trade represents a 2.79% 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 sold a total of 16,615 shares of company stock worth $275,144 over the last three months. 34.46% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Q32 Bio

A number of institutional investors and hedge funds have recently modified their holdings of the business. Cetera Investment Advisers bought a new position in Q32 Bio in the first quarter valued at approximately $133,000. ADAR1 Capital Management LLC raised its position in shares of Q32 Bio by 75.0% during the 1st quarter. ADAR1 Capital Management LLC now owns 35,000 shares of the company's stock valued at $225,000 after acquiring an additional 15,000 shares during the last quarter. Susquehanna International Group LLP bought a new stake in shares of Q32 Bio during the 2nd quarter valued at $297,000. Squarepoint Ops LLC acquired a new position in shares of Q32 Bio in the 2nd quarter valued at $303,000. Finally, Carlyle Group Inc. acquired a new position in shares of Q32 Bio in the 2nd quarter valued at $769,000. 31.32% of the stock is owned by institutional investors.

Q32 Bio Stock Down 3.6%

NASDAQ:QTTB opened at $9.22 on Friday. The firm has a market cap of $274.48 million, a PE ratio of 3.07 and a beta of 0.21. Q32 Bio has a 12 month low of $1.79 and a 12 month high of $23.57. The company's 50-day moving average price is $14.04 and its two-hundred day moving average price is $10.70.

Q32 Bio (NASDAQ:QTTB - Get Free Report) last posted 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. On average, research analysts expect that Q32 Bio will post -1.54 EPS for the current fiscal year.

Q32 Bio Company Profile

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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