Lee Kalowski Sells 3,972 Shares of Q32 Bio (NASDAQ:QTTB) Stock

Key Points

• Q32 Bio CFO Lee Kalowski sold 3,972 shares at an average price of $16.56, generating $65,776.32. The sale reduced his ownership by 2.79% and was made to cover tax withholding on vested equity awards.
• Q32 Bio shares recently traded near $16.15, while the company reported a quarterly loss of $0.44 per share—better than analysts’ estimate of a $0.46 loss. Analysts project a full-year loss of $1.51 per share.
• Analyst sentiment remains positive, with five Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $31.00. Institutional investors own 31.32% of the company, including a 29.9% position increase by Atlas Venture Life Science Advisors.

Q32 Bio Inc. (NASDAQ:QTTB - Get Free Report) CFO Lee Kalowski sold 3,972 shares of the company's stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $16.56, for a total transaction of $65,776.32. Following the completion of the transaction, the chief financial officer owned 138,471 shares of the company's stock, valued at $2,293,079.76. This trade represents a 2.79% decrease in their ownership of the stock. The sale 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.

Q32 Bio Trading Down 0.2%

Shares of QTTB traded down $0.03 during mid-day trading on Thursday, reaching $16.15. The company's stock had a trading volume of 198,925 shares, compared to its average volume of 745,675. Q32 Bio Inc. has a 52 week low of $1.62 and a 52 week high of $23.57. The stock has a market cap of $480.77 million, a PE ratio of 5.38 and a beta of 0.23. The company's fifty day moving average price is $14.75 and its two-hundred day moving average price is $9.59.

Q32 Bio (NASDAQ:QTTB - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.46) by $0.02. Research analysts anticipate that Q32 Bio Inc. will post -1.51 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Oppenheimer lifted their price objective on Q32 Bio from $20.00 to $40.00 and gave the stock an "outperform" rating in a report on Monday, July 13th. Mizuho began coverage on shares of Q32 Bio in a research report on Friday, May 22nd. They issued an "outperform" rating and a $14.00 target price for the company. Cantor Fitzgerald initiated coverage on shares of Q32 Bio in a research note on Monday, May 18th. They set an "overweight" rating for the company. HC Wainwright increased their price target on Q32 Bio from $13.00 to $36.00 and gave the company a "buy" rating in a report on Tuesday, July 28th. Finally, Morgan Stanley started coverage on Q32 Bio in a research note on Monday. They issued an "overweight" rating and a $34.00 price target on the stock. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Q32 Bio has a consensus rating of "Moderate Buy" and an average price target of $31.00.

Institutional Trading of Q32 Bio

A number of large investors have recently modified their holdings of QTTB. Atlas Venture Life Science Advisors LLC raised its position in shares of 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 valued at $34,616,000 after purchasing an additional 625,000 shares during the last quarter. Opaleye Management Inc. purchased a new stake in Q32 Bio during the 4th quarter worth approximately $708,000. BlackRock Inc. acquired a new position in Q32 Bio during the 2nd quarter valued at approximately $1,510,000. Renaissance Technologies LLC increased its stake in Q32 Bio by 107.7% during 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 in the last quarter. Finally, Carlyle Group Inc. purchased a new position in shares of Q32 Bio in the second quarter worth $769,000. Hedge funds and other 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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