FY2028 Earnings Forecast for Q32 Bio Issued By HC Wainwright

Key Points

• HC Wainwright raised its FY2028 EPS forecast for Q32 Bio to a loss of $1.52 per share from a projected loss of $1.80, while maintaining a Buy rating and $36 price target. The firm forecasts EPS of $1.21 in FY2029 and $2.89 in FY2030.
• Q32 Bio reported a quarterly loss of $0.44 per share, beating analysts’ consensus estimate of a $0.46 loss. Overall, analysts hold a “Moderate Buy” consensus rating with an average price target of $30.60.
• Q32 Bio shares opened at $8.23, well below their 52-week high of $23.57. Institutional investors own 31.32% of the stock, while insiders own 34.46%; recent insider sales were made to cover tax withholding obligations tied to equity awards.

Q32 Bio Inc. (NASDAQ:QTTB - Free Report) - Research analysts at HC Wainwright increased their FY2028 EPS estimates for Q32 Bio in a research note issued to investors on Wednesday, September 30th. HC Wainwright analyst J. Pantginis now forecasts that the company will earn ($1.52) per share for the year, up from their previous estimate of ($1.80). HC Wainwright currently has a "Buy" rating and a $36.00 target price on the stock. The consensus estimate for Q32 Bio's current full-year earnings is ($1.54) per share. HC Wainwright also issued estimates for Q32 Bio's FY2029 earnings at $1.21 EPS and FY2030 earnings at $2.89 EPS.

Q32 Bio (NASDAQ:QTTB - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.46) by $0.02.

A number of other equities analysts have also issued reports on the company. Weiss Ratings raised Q32 Bio from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, August 21st. Cantor Fitzgerald reissued an "overweight" rating on shares of Q32 Bio in a research report on Wednesday, September 16th. Morgan Stanley initiated coverage on shares of Q32 Bio in a research note on Monday, August 24th. They issued an "overweight" rating and a $34.00 price target for the company. Jefferies Financial Group started coverage on shares of Q32 Bio in a report on Monday, September 28th. They issued a "buy" rating and a $29.00 price target on the stock. Finally, Mizuho upgraded shares of Q32 Bio to a "strong-buy" rating in a research note on Monday, September 7th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.60.

Q32 Bio Price Performance

Shares of NASDAQ QTTB opened at $8.23 on Monday. Q32 Bio has a fifty-two week low of $1.90 and a fifty-two week high of $23.57. The business has a 50 day moving average price of $13.26 and a two-hundred day moving average price of $10.80. The firm has a market cap of $245.01 million, a PE ratio of 2.74 and a beta of 0.31.

Hedge Funds Weigh In On Q32 Bio

Several institutional investors have recently modified their holdings of QTTB. Renaissance Technologies LLC lifted its position in Q32 Bio by 107.7% in the 1st quarter. Renaissance Technologies LLC now owns 206,915 shares of the company's stock valued at $1,328,000 after purchasing an additional 107,315 shares during the last quarter. Atlas Venture Life Science Advisors LLC grew its position 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 purchasing an additional 625,000 shares during the last quarter. BlackRock Inc. bought a new position in Q32 Bio in the 2nd quarter worth about $1,510,000. Carlyle Group Inc. acquired a new stake in shares of Q32 Bio in the second quarter valued at approximately $769,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Q32 Bio in the second quarter valued at approximately $303,000. Institutional investors own 31.32% of the company's stock.

Insider Activity at Q32 Bio

In other Q32 Bio news, CFO Lee Kalowski sold 3,972 shares of the firm's stock in a transaction 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 sale, the chief financial officer directly owned 138,471 shares in the company, valued at approximately $2,293,079.76. This trade represents a 2.79% decrease in their ownership of the stock. The transaction was disclosed in a 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, CEO Jodie Morrison sold 9,845 shares of the firm's stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $16.56, for a total value of $163,033.20. Following the completion of 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 ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 16,615 shares of company stock worth $275,144 in the last 90 days. 34.46% of the stock is currently owned by company insiders.

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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