Q32 Bio (NASDAQ:QTTB) Insider Sells $46,334.88 in Stock

Key Points

• Q32 Bio insider Shelia Violette sold 2,798 shares at an average price of $16.56, generating $46,334.88. The sale covered tax-withholding obligations, reducing her stake by 2.14% to 127,771 shares.
• QTTB shares were recently trading at $16.15, with a market capitalization of about $480.8 million. The stock is well above its 52-week low of $1.62 but below its high of $23.57.
• Analyst sentiment remains favorable, with five Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $31.00; Morgan Stanley recently initiated coverage with an Overweight rating and a $34 target.

Q32 Bio Inc. (NASDAQ:QTTB - Get Free Report) insider Shelia Violette sold 2,798 shares of the stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $16.56, for a total transaction of $46,334.88. Following the completion of the transaction, the insider directly owned 127,771 shares of the company's stock, valued at $2,115,887.76. This trade represents a 2.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Q32 Bio Trading Down 0.2%

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

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Morgan Stanley assumed coverage on shares of Q32 Bio in a report on Monday. They set an "overweight" rating and a $34.00 price target for the company. Weiss Ratings raised shares of Q32 Bio from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, August 21st. Zacks Research lowered shares of Q32 Bio from a "strong-buy" rating to a "hold" rating in a report on Monday, May 18th. 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 research note on Tuesday, July 28th. Finally, Mizuho began coverage on Q32 Bio in a report on Friday, May 22nd. They issued an "outperform" rating and a $14.00 target price on the stock. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Q32 Bio currently has a consensus rating of "Moderate Buy" and an average target price of $31.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP bought a new position in Q32 Bio in the 2nd quarter worth approximately $25,000. Acadian Asset Management LLC bought a new stake in shares of Q32 Bio during the first quarter worth $50,000. Two Sigma Investments LP acquired a new position in shares of Q32 Bio during the third quarter valued at $62,000. ADAR1 Capital Management LLC bought a new position in Q32 Bio in the fourth quarter valued at about $66,000. Finally, AQR Capital Management LLC bought a new position in shares of Q32 Bio in the 1st quarter valued at about $68,000. Institutional investors and hedge funds 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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