Q32 Bio (NASDAQ:QTTB) Shares Down 10.6% - Time to Sell?

Key Points

• Q32 Bio shares fell 10.6% on Thursday, trading as low as $12.31 before closing at $12.59, with volume below its average daily level.
• Analyst sentiment remains mixed but generally constructive: the stock has a “Moderate Buy” consensus rating with an average price target of $13.50, even after Zacks cut it to Hold.
• Recent earnings beat expectations, as Q32 Bio reported EPS of -$0.54 versus consensus of -$0.68, while insiders made large purchases of 1.875 million shares each at $8.00, signaling confidence in the company.

Q32 Bio Inc. (NASDAQ:QTTB - Get Free Report)'s share price was down 10.6% on Thursday . The company traded as low as $12.31 and last traded at $12.59. 264,781 shares changed hands during trading, a decline of 21% from the average daily volume of 333,662 shares. The stock had previously closed at $14.08.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Zacks Research lowered shares of Q32 Bio from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 18th. Weiss Ratings upgraded Q32 Bio from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, May 11th. Cantor Fitzgerald started coverage on Q32 Bio in a report on Monday, May 18th. They set an "overweight" rating for the company. Mizuho began coverage on Q32 Bio in a research report on Friday, May 22nd. They issued an "outperform" rating and a $14.00 target price for the company. Finally, HC Wainwright restated a "buy" rating and issued a $13.00 target price on shares of Q32 Bio in a research note on Tuesday, May 5th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Q32 Bio currently has a consensus rating of "Moderate Buy" and an average price target of $13.50.

Q32 Bio Trading Down 10.6%

The stock has a market cap of $213.53 million, a PE ratio of 4.73 and a beta of 0.24. The firm has a 50-day simple moving average of $10.11 and a 200-day simple moving average of $6.69. The company has a quick ratio of 5.36, a current ratio of 5.36 and a debt-to-equity ratio of 0.04.

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

Insider Transactions at Q32 Bio

In related news, Director Orbimed Advisors Llc bought 1,875,000 shares of Q32 Bio stock in a transaction on Thursday, May 28th. The stock was acquired at an average price of $8.00 per share, with a total value of $15,000,000.00. Following the acquisition, the director directly owned 3,502,987 shares of the company's stock, valued at $28,023,896. This represents a 115.17% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Diyong Xu purchased 1,875,000 shares of the firm's stock in a transaction dated Thursday, May 28th. The shares were bought at an average price of $8.00 per share, for a total transaction 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 ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 34.46% of the company's stock.

Hedge Funds Weigh In On Q32 Bio

A number of large investors have recently modified their holdings of the company. Marshall Wace LLP purchased a new position in Q32 Bio during the second quarter valued at approximately $25,000. Acadian Asset Management LLC purchased a new stake in Q32 Bio in the 1st quarter worth approximately $50,000. Two Sigma Investments LP purchased a new stake in Q32 Bio in the 3rd quarter worth approximately $62,000. ADAR1 Capital Management LLC purchased a new stake in Q32 Bio in the 4th quarter worth approximately $66,000. Finally, AQR Capital Management LLC bought a new position in Q32 Bio in the 1st quarter valued at $68,000. 31.32% of the stock is currently owned by institutional investors.

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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