BlackRock Inc. acquired a new position in shares of Q32 Bio Inc. (NASDAQ:QTTB - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 118,507 shares of the company's stock, valued at approximately $1,510,000. BlackRock Inc. owned 0.70% of Q32 Bio at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the business. Marshall Wace LLP acquired a new stake in Q32 Bio in the second quarter valued at $25,000. Acadian Asset Management LLC acquired a new position in shares of Q32 Bio during the 1st quarter worth $50,000. Two Sigma Investments LP purchased a new position in shares of Q32 Bio in the 3rd quarter valued at about $62,000. ADAR1 Capital Management LLC acquired a new stake in shares of Q32 Bio in the fourth quarter valued at about $66,000. Finally, AQR Capital Management LLC acquired a new stake in shares of Q32 Bio in the first quarter valued at about $68,000. Hedge funds and other institutional investors own 31.32% of the company's stock.
Q32 Bio Price Performance
Q32 Bio stock opened at $11.99 on Monday. The firm has a market capitalization of $356.94 million, a PE ratio of 4.00 and a beta of 0.21. Q32 Bio Inc. has a 52 week low of $1.63 and a 52 week high of $23.57. The firm's 50-day simple moving average is $15.04 and its 200 day simple moving average is $10.09.
Q32 Bio (NASDAQ:QTTB - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($0.46) by $0.02. On average, research analysts expect that Q32 Bio Inc. will post -1.51 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of research firms recently commented on QTTB. Mizuho began coverage on shares of Q32 Bio in a report on Friday, May 22nd. They set an "outperform" rating and a $14.00 price objective on the stock. Zacks Research cut shares of Q32 Bio from a "strong-buy" rating to a "hold" rating in a report on Monday, May 18th. Weiss Ratings upgraded shares of Q32 Bio from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, August 21st. Morgan Stanley began coverage on Q32 Bio in a research note on Monday, August 24th. They set an "overweight" rating and a $34.00 price target on the stock. Finally, Oppenheimer upped their price target on Q32 Bio from $20.00 to $40.00 and gave the stock an "outperform" rating in a report on Monday, July 13th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Q32 Bio has an average rating of "Moderate Buy" and an average price target of $31.00.
View Our Latest Report on QTTB
Insider Activity
In other Q32 Bio news, insider Shelia M. Violette sold 2,798 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $16.56, for a total transaction of $46,334.88. Following 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 sale was disclosed in a filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $16.56, for a total value of $163,033.20. Following the transaction, the chief executive officer directly owned 343,259 shares of the company's stock, valued at $5,684,369.04. The trade was 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 have sold 16,615 shares of company stock worth $275,144 over the last ninety days. 34.46% of the stock is currently owned by insiders.
About Q32 Bio
(
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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