Q32 Bio (NASDAQ:QTTB) Announces Earnings Results, Beats Estimates By $0.14 EPS

Key Points

• Q32 Bio (NASDAQ:QTTB) reported quarterly EPS of ($0.54), beating analysts' consensus of ($0.68) by $0.14.
• Shares traded down slightly to $5.02 on light volume (75,979 vs. average 255,898); the company has a market cap of $78.46 million and a 52-week range of $1.35–$8.05.
• Analysts are mixed but the consensus is a "Moderate Buy" with an average price target of $13.00, while insider activity shows CEO Jodie Pope Morrison sold 9,896 shares (a 10% reduction) and insiders have sold 16,706 shares in the last 90 days.

Q32 Bio (NASDAQ:QTTB - Get Free Report) issued its quarterly earnings data on Tuesday. The company reported ($0.54) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.68) by $0.14, FiscalAI reports.

Q32 Bio Stock Performance

Shares of QTTB stock traded down $0.02 on Tuesday, hitting $5.02. The company's stock had a trading volume of 75,979 shares, compared to its average volume of 255,898. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.85 and a current ratio of 4.85. The stock's 50 day moving average is $5.85 and its 200-day moving average is $4.14. Q32 Bio has a fifty-two week low of $1.35 and a fifty-two week high of $8.05. The company has a market capitalization of $78.46 million, a PE ratio of 2.18 and a beta of -0.05.

Analysts Set New Price Targets

QTTB has been the subject of a number of analyst reports. Zacks Research upgraded 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 research note on Friday, January 9th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $13.00 price target on shares of Q32 Bio in a research note on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Q32 Bio presently has an average rating of "Moderate Buy" and an average price target of $13.00.

Insider Transactions at Q32 Bio

In related news, CEO Jodie Pope Morrison sold 9,896 shares of the firm's 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 in the company, valued at $401,859.04. This trade represents a 10.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders have sold 16,706 shares of company stock worth $75,344. 40.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Q32 Bio

Several hedge funds have recently added to or reduced their stakes in QTTB. HRT Financial LP raised its holdings in Q32 Bio by 66.5% during the 4th quarter. HRT Financial LP now owns 24,698 shares of the company's stock worth $81,000 after purchasing an additional 9,862 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Q32 Bio during the 2nd quarter worth approximately $25,000. Geode Capital Management LLC grew its position in shares of Q32 Bio by 19.9% during the 4th quarter. Geode Capital Management LLC now owns 106,113 shares of the company's stock worth $352,000 after buying an additional 17,617 shares during the period. ADAR1 Capital Management LLC acquired a new stake in shares of Q32 Bio during the 4th quarter worth approximately $66,000. Finally, XTX Topco Ltd acquired a new stake in Q32 Bio in the 4th quarter valued at $68,000. 31.32% of the stock is currently owned by institutional investors and hedge funds.

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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