Q32 Bio (NASDAQ:QTTB) Stock: Insider Jodie Pope Morrison Sells 3,221 Shares

Key Points

• CEO Jodie Pope Morrison sold 3,221 Q32 Bio shares at an average price of $8.32, totaling $26,798.72. The sale covered tax-withholding obligations tied to vested equity awards and reduced her holdings by 0.94%.
• Q32 Bio shares fell 0.6% to $8.01, well below their 50-day and 200-day moving averages. The company reported a quarterly loss of $0.44 per share, slightly better than analysts’ expectations.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $32.17, while institutional investors own 31.32% of the company.

Q32 Bio Inc. (NASDAQ:QTTB - Get Free Report) CEO Jodie Morrison sold 3,221 shares of the stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $8.32, for a total value of $26,798.72. Following the transaction, the chief executive officer owned 340,038 shares in the company, valued at $2,829,116.16. The trade was a 0.94% decrease in their position. The transaction was disclosed in a document filed 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.

Jodie Pope Morrison also recently made the following trade(s):

• On Tuesday, August 25th, Jodie Morrison sold 9,845 shares of Q32 Bio stock. The stock was sold at an average price of $16.56, for a total value of $163,033.20.

Q32 Bio Stock Down 0.6%

Shares of Q32 Bio stock traded down $0.05 during trading on Wednesday, reaching $8.01. The company's stock had a trading volume of 889,313 shares, compared to its average volume of 781,863. The business's 50-day moving average price is $12.08 and its 200-day moving average price is $10.88. The firm has a market cap of $238.46 million, a PE ratio of 2.67 and a beta of 0.31. Q32 Bio Inc. has a 52 week low of $1.90 and a 52 week high of $23.57.

Q32 Bio (NASDAQ:QTTB - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.46) by $0.02. Equities analysts predict that Q32 Bio Inc. will post -1.54 earnings per share for the current year.

Institutional Investors Weigh In On Q32 Bio

Several institutional investors and hedge funds have recently bought and sold shares of the company. ADAR1 Capital Management LLC grew its holdings in shares of Q32 Bio by 75.0% during the first quarter. ADAR1 Capital Management LLC now owns 35,000 shares of the company's stock worth $225,000 after purchasing an additional 15,000 shares during the last quarter. Cetera Investment Advisers bought a new position in Q32 Bio in the 1st quarter valued at approximately $133,000. Susquehanna International Group LLP bought a new position in Q32 Bio in the 2nd quarter valued at approximately $297,000. Squarepoint Ops LLC bought a new position in Q32 Bio in the 2nd quarter valued at approximately $303,000. Finally, Carlyle Group Inc. acquired a new stake in Q32 Bio during the 2nd quarter worth approximately $769,000. Institutional investors own 31.32% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Mizuho upgraded shares of Q32 Bio to a "strong-buy" rating in a research report on Monday, September 7th. Leerink Partners began coverage on Q32 Bio in a research report on Monday. They set an "outperform" rating and a $40.00 price target on the stock. Weiss Ratings raised Q32 Bio from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, August 21st. Cantor Fitzgerald restated an "overweight" rating on shares of Q32 Bio in a research note on Wednesday, September 16th. Finally, Jefferies Financial Group initiated coverage on Q32 Bio in a report on Monday, September 28th. They issued a "buy" rating and a $29.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Q32 Bio presently has a consensus rating of "Moderate Buy" and a consensus target price of $32.17.

About Q32 Bio

Q32 Bio is a clinical-stage biotechnology company focused on developing therapies designed to restore immune homeostasis and address diseases driven by immune dysregulation. The company's approach targets pathways involved in the transforming growth factor beta superfamily, which plays a role in regulating inflammation, tissue repair and immune responses.

Q32 Bio's lead product candidate is bempikibart, also known as ADX-914, a fully human monoclonal antibody designed to modulate immune activity through selective targeting of the activin receptor type IIA pathway.

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