Q32 Bio Inc. (NASDAQ:QTTB) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Q32 Bio has a consensus analyst rating of “Moderate Buy” from five covering firms, with an average 1-year price target of $13.50.
• The stock fell 11.0% in Friday trading to $11.21, while the company reported quarterly EPS of ($0.54), beating expectations of ($0.68).
• Insider buying was notable, as two directors each purchased 1.875 million shares at $8.00 per share, signaling strong internal confidence in the company.

Shares of Q32 Bio Inc. (NASDAQ:QTTB - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the five ratings firms that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $13.50.

QTTB has been the subject of several recent research reports. Weiss Ratings upgraded shares of Q32 Bio from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, May 11th. Cantor Fitzgerald initiated coverage on shares of Q32 Bio in a research note on Monday, May 18th. They issued an "overweight" rating on the stock. Zacks Research cut shares of Q32 Bio from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 18th. HC Wainwright restated a "buy" rating and set a $13.00 price objective on shares of Q32 Bio in a research note on Tuesday, May 5th. Finally, Mizuho initiated coverage on Q32 Bio in a report on Friday, May 22nd. They issued an "outperform" rating and a $14.00 price objective for the company.

Q32 Bio Stock Down 11.0%

Q32 Bio stock traded down $1.38 during midday trading on Friday, reaching $11.21. The stock had a trading volume of 3,224,136 shares, compared to its average volume of 325,029. The firm's fifty day simple moving average is $10.23 and its 200-day simple moving average is $6.72. Q32 Bio has a 1-year low of $1.57 and a 1-year high of $15.02. The stock has a market capitalization of $190.12 million, a P/E ratio of 4.21 and a beta of 0.24. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.36 and a current ratio of 5.36.

Q32 Bio (NASDAQ:QTTB - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.54) earnings per share for the quarter, topping analysts' consensus estimates of ($0.68) by $0.14. As a group, analysts expect that Q32 Bio will post -1.96 EPS for the current fiscal year.

Insider Activity at Q32 Bio

In related news, Director Orbimed Advisors Llc purchased 1,875,000 shares of Q32 Bio stock in a transaction that occurred on Thursday, May 28th. The stock was purchased at an average cost of $8.00 per share, with a total value of $15,000,000.00. Following the completion of the transaction, the director owned 3,502,987 shares of the company's stock, valued at approximately $28,023,896. This trade represents a 115.17% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Diyong Xu purchased 1,875,000 shares of the firm's stock in a transaction on Thursday, May 28th. The stock was bought at an average price of $8.00 per share, with a total value of $15,000,000.00. Following the completion of the purchase, the director owned 3,502,987 shares of the company's stock, valued at approximately $28,023,896. This represents a 115.17% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 34.46% of the company's stock.

Institutional Trading of Q32 Bio

A number of large investors have recently added to or reduced their stakes in QTTB. ADAR1 Capital Management LLC acquired a new stake in Q32 Bio in the 4th quarter valued at about $66,000. Jane Street Group LLC bought a new stake in Q32 Bio in the fourth quarter valued at approximately $84,000. HRT Financial LP lifted its position in shares of Q32 Bio by 66.5% in the fourth quarter. HRT Financial LP now owns 24,698 shares of the company's stock valued at $81,000 after buying an additional 9,862 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Q32 Bio by 110.6% during the 4th quarter. Renaissance Technologies LLC now owns 99,600 shares of the company's stock worth $331,000 after acquiring an additional 52,300 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Q32 Bio by 140.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 44,373 shares of the company's stock worth $73,000 after acquiring an additional 25,953 shares during the period. Institutional investors and hedge funds own 31.32% of the company's stock.

About Q32 Bio

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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