Q32 Bio Inc. $QTTB Stock Position Increased by Atlas Venture Life Science Advisors LLC

Key Points

• Atlas Venture Life Science Advisors increased its Q32 Bio stake by 29.9% in the second quarter, purchasing 625,000 additional shares. Its 2.72 million shares were worth approximately $34.6 million and represented 9.13% of Q32 Bio.
• Analysts remain broadly positive, with five Buy ratings and two Holds producing a consensus “Moderate Buy” rating and an average price target of $31.00. HC Wainwright raised its target to $36 from $13.
• Q32 Bio shares opened at $12.80, compared with a 12-month range of $1.62 to $23.57. The company reported a quarterly loss of $0.44 per share, slightly better than the $0.46 loss analysts expected.

Atlas Venture Life Science Advisors LLC grew its position in Q32 Bio Inc. (NASDAQ:QTTB - Free Report) by 29.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,717,106 shares of the company's stock after purchasing an additional 625,000 shares during the period. Q32 Bio makes up 3.9% of Atlas Venture Life Science Advisors LLC's holdings, making the stock its 6th largest position. Atlas Venture Life Science Advisors LLC owned approximately 9.13% of Q32 Bio worth $34,616,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. AQR Capital Management LLC purchased a new position in shares of Q32 Bio during the first quarter worth $68,000. Goldman Sachs Group Inc. boosted its holdings in Q32 Bio by 140.9% in the first quarter. Goldman Sachs Group Inc. now owns 44,373 shares of the company's stock valued at $73,000 after purchasing an additional 25,953 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Q32 Bio during the 1st quarter worth about $50,000. Marshall Wace LLP acquired a new stake in Q32 Bio during the 2nd quarter worth about $25,000. Finally, Jane Street Group LLC purchased a new position in shares of Q32 Bio during the 2nd quarter valued at about $69,000. 31.32% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Q32 Bio

In other news, insider Shelia Violette sold 2,798 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 $46,334.88. Following the transaction, the insider directly owned 127,771 shares of the company's stock, valued at approximately $2,115,887.76. This trade represents a 2.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 business'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 $163,033.20. Following the transaction, 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. 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. In the last ninety days, insiders sold 16,615 shares of company stock valued at $275,144. 34.46% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

QTTB has been the subject of several recent research reports. Zacks Research cut Q32 Bio from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 18th. Cantor Fitzgerald initiated coverage on Q32 Bio in a research report on Monday, May 18th. They issued an "overweight" rating on the stock. Mizuho began coverage on shares of Q32 Bio in a research note on Friday, May 22nd. They set an "outperform" rating and a $14.00 price objective on the stock. HC Wainwright lifted their target price on shares of Q32 Bio from $13.00 to $36.00 and gave the company a "buy" rating in a report on Tuesday, July 28th. Finally, Weiss Ratings upgraded shares of Q32 Bio from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, August 21st. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $31.00.

Q32 Bio Price Performance

Q32 Bio stock opened at $12.80 on Friday. The stock has a market capitalization of $381.06 million, a PE ratio of 4.27 and a beta of 0.21. The business has a 50 day simple moving average of $15.06 and a 200-day simple moving average of $10.03. Q32 Bio Inc. has a 12 month low of $1.62 and a 12 month high of $23.57.

Q32 Bio (NASDAQ:QTTB - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.44) earnings per share for the quarter, beating analysts' consensus estimates of ($0.46) by $0.02. On average, equities research analysts anticipate that Q32 Bio Inc. will post -1.51 EPS for the current fiscal year.

Q32 Bio Company Profile

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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