Q32 Bio (NASDAQ:QTTB) Stock Price Expected to Rise, HC Wainwright Analyst Says

Key Points

• HC Wainwright raised Q32 Bio’s price target to $36 from $13 and maintained a “buy” rating, implying 136.69% upside from the prior close. The analyst consensus is “Moderate Buy,” with an average target of $30.
• Q32 Bio opened at $15.21, with a market capitalization of approximately $257.9 million, while shares have traded between $1.57 and $23.57 over the past year. The company reported a quarterly loss of $0.54 per share, outperforming estimates of a $0.68 loss.
• Company insiders made significant purchases, with two directors each acquiring 1.875 million shares at $8 per share. Insiders now own 34.46% of Q32 Bio, while institutional investors and hedge funds hold 31.32%.

Q32 Bio (NASDAQ:QTTB - Get Free Report) had its target price upped by investment analysts at HC Wainwright from $13.00 to $36.00 in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The brokerage currently has a "buy" rating on the stock. HC Wainwright's target price points to a potential upside of 136.69% from the company's previous close.

A number of other research analysts have also commented on QTTB. 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 shares of 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 on the stock. Mizuho initiated coverage on Q32 Bio in a research report on Friday, May 22nd. They issued an "outperform" rating and a $14.00 price target on the stock. Finally, Oppenheimer upped their price objective on Q32 Bio from $20.00 to $40.00 and gave the company an "outperform" rating in a research note on Monday, July 13th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $30.00.

Q32 Bio Price Performance

QTTB stock opened at $15.21 on Tuesday. The company has a market capitalization of $257.90 million, a P/E ratio of 5.72 and a beta of 0.24. Q32 Bio has a twelve month low of $1.57 and a twelve month high of $23.57. The business has a 50 day simple moving average of $12.52 and a 200-day simple moving average of $7.74. The company has a current ratio of 5.36, a quick ratio of 5.36 and a debt-to-equity ratio of 0.04.

Q32 Bio (NASDAQ:QTTB - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported ($0.54) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.68) by $0.14. As a group, equities analysts anticipate that Q32 Bio will post -1.87 EPS for the current year.

Insiders Place Their Bets

In other news, Director Orbimed Advisors Llc bought 1,875,000 shares of the stock in a transaction dated Thursday, May 28th. The shares were acquired at an average price of $8.00 per share, with a total value of $15,000,000.00. Following the completion of the acquisition, the director directly owned 3,502,987 shares in the company, valued at approximately $28,023,896. The trade was 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 accessible through this hyperlink. Also, Director Diyong Xu purchased 1,875,000 shares of the company's stock in a transaction dated Thursday, May 28th. The shares were purchased at an average price of $8.00 per share, for a total transaction 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 trade represents a 115.17% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 34.46% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Q32 Bio

Hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP acquired a new position in Q32 Bio during the 2nd quarter worth approximately $25,000. ADAR1 Capital Management LLC acquired a new position in Q32 Bio during the fourth quarter worth $66,000. XTX Topco Ltd purchased a new position in Q32 Bio in the fourth quarter worth $68,000. Cetera Investment Advisers purchased a new position in Q32 Bio in the first quarter worth $133,000. Finally, HRT Financial LP lifted its holdings in 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 acquiring an additional 9,862 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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