Q32 Bio's (QTTB) Buy Rating Reaffirmed at HC Wainwright

Key Points

• HC Wainwright reaffirmed a "Buy" rating on Q32 Bio with a $13.00 price target, implying about a 157.63% upside from the prior close.
• Analyst sentiment is mixed—MarketBeat shows an average rating of "Moderate Buy" (one Strong Buy, one Buy, one Sell) and an average target of $13, while Q32 reported Q1 EPS of -$0.54, beating estimates of -$0.68.
• Insiders have been selling recently: CEO Jodie Pope Morrison sold 9,896 shares (a 10% reduction) and insiders sold 16,706 shares in the last three months; insiders own ~40% of the stock while institutions own ~31.32%.

Q32 Bio (NASDAQ:QTTB - Get Free Report)'s stock had its "buy" rating reaffirmed by HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $13.00 price target on the stock. HC Wainwright's target price points to a potential upside of 157.63% from the stock's previous close.

A number of other brokerages also recently weighed in on QTTB. Weiss Ratings reiterated a "sell (d-)" rating on shares of Q32 Bio in a research report on Friday, January 9th. Zacks Research upgraded shares of Q32 Bio from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $13.00.

Q32 Bio Price Performance

Shares of Q32 Bio stock traded up $0.01 during trading hours on Tuesday, reaching $5.05. The stock had a trading volume of 96,831 shares, compared to its average volume of 256,181. The stock's 50 day moving average is $5.85 and its 200 day moving average is $4.14. The firm has a market capitalization of $78.87 million, a PE ratio of 2.19 and a beta of -0.05. Q32 Bio has a twelve month low of $1.35 and a twelve month high of $8.05. The company has a current ratio of 4.85, a quick ratio of 4.85 and a debt-to-equity ratio of 0.08.

Q32 Bio (NASDAQ:QTTB - Get Free Report) last issued its quarterly earnings data 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. Equities analysts expect that Q32 Bio will post -2.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Q32 Bio

In related news, CEO Jodie Pope Morrison sold 9,896 shares of the company's stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $4.51, for a total transaction 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 represents a 10.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 16,706 shares of company stock worth $75,344. 40.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Marshall Wace LLP acquired a new position in shares of Q32 Bio during the 2nd quarter worth about $25,000. Acadian Asset Management LLC acquired a new position in shares of Q32 Bio during the 1st quarter worth about $50,000. Two Sigma Investments LP acquired a new position in shares of Q32 Bio during the 3rd quarter worth about $62,000. ADAR1 Capital Management LLC acquired a new position in shares of Q32 Bio during the 4th quarter worth about $66,000. Finally, AQR Capital Management LLC acquired a new position in shares of Q32 Bio during the 1st quarter worth about $68,000. 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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