FY2029 Earnings Forecast for Q32 Bio Issued By HC Wainwright

Key Points

• HC Wainwright raised its FY2029 EPS estimate for Q32 Bio to $0.20 (from $0.16), maintained a Buy rating and a $13.00 price target, and also forecasts FY2030 EPS of $0.44 while the consensus for the current year remains a ($2.57) loss per share.
• Q32 Bio beat expectations on May 7 with quarterly EPS of ($0.54) versus a ($0.68) consensus, and the stock opened at $5.14 with a market cap of $80.34 million and a trailing PE of 2.23.
• CEO Jodie Pope Morrison sold 9,896 shares in February (reducing her stake by about 10%), insiders have sold 16,706 shares over the past 90 days, and corporate insiders collectively own roughly 40% of the company.

Q32 Bio Inc. (NASDAQ:QTTB - Free Report) - Equities researchers at HC Wainwright boosted their FY2029 earnings estimates for shares of Q32 Bio in a research report issued on Tuesday, May 5th. HC Wainwright analyst J. Pantginis now forecasts that the company will earn $0.20 per share for the year, up from their prior estimate of $0.16. HC Wainwright currently has a "Buy" rating and a $13.00 target price on the stock. The consensus estimate for Q32 Bio's current full-year earnings is ($2.57) per share. HC Wainwright also issued estimates for Q32 Bio's FY2030 earnings at $0.44 EPS.

A number of other brokerages also recently weighed in on QTTB. Zacks Research raised shares of Q32 Bio from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 12th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Q32 Bio in a report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $13.00.

Q32 Bio Stock Performance

Shares of Q32 Bio stock opened at $5.14 on Wednesday. The company has a 50 day moving average of $5.86 and a 200-day moving average of $4.15. Q32 Bio has a 1-year low of $1.35 and a 1-year high of $8.05. The company has a current ratio of 4.85, a quick ratio of 4.85 and a debt-to-equity ratio of 0.08. The company has a market cap of $80.34 million, a PE ratio of 2.23 and a beta of -0.05.

Q32 Bio (NASDAQ:QTTB - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.54) earnings per share for the quarter, topping analysts' consensus estimates of ($0.68) by $0.14.

Insider Buying and Selling

In related news, CEO Jodie Pope Morrison sold 9,896 shares of the stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $4.51, for a total value of $44,630.96. Following the completion of the transaction, the chief executive officer owned 89,104 shares of the company's stock, valued at $401,859.04. This represents a 10.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have sold 16,706 shares of company stock valued at $75,344. 40.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Q32 Bio

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. XTX Topco Ltd bought a new position in Q32 Bio in the 4th quarter valued at approximately $68,000. Opaleye Management Inc. acquired a new position in Q32 Bio in the 4th quarter valued at approximately $708,000. ADAR1 Capital Management LLC acquired a new position in Q32 Bio in the 4th quarter valued at approximately $66,000. Jane Street Group LLC acquired a new position in Q32 Bio in the 4th quarter valued at approximately $84,000. Finally, HRT Financial LP increased its position in Q32 Bio by 66.5% in the 4th quarter. HRT Financial LP now owns 24,698 shares of the company's stock valued at $81,000 after acquiring an additional 9,862 shares during the period. Institutional investors own 31.32% of the company's stock.

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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