Q32 Bio Inc. (NASDAQ:QTTB) Given Consensus Rating of “Buy” by Brokerages

Q32 Bio Inc. (NASDAQ:QTTB) has earned an average rating of “Buy” from the six analysts that are currently covering the firm, MarketBeat reports. Five analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $68.80.

A number of brokerages have recently issued reports on QTTB. Wells Fargo & Company began coverage on Q32 Bio in a report on Wednesday, September 11th. They issued an “overweight” rating and a $95.00 price target on the stock. Guggenheim began coverage on Q32 Bio in a report on Monday, June 17th. They issued a “buy” rating and a $100.00 price target on the stock.

Q32 Bio Stock Up 4.7 %

QTTB opened at $44.75 on Friday. The business’s fifty day moving average price is $41.44. The stock has a market cap of $534.40 million, a P/E ratio of -1.37 and a beta of -0.32. Q32 Bio has a 52 week low of $8.24 and a 52 week high of $53.79. The company has a debt-to-equity ratio of 0.37, a current ratio of 6.49 and a quick ratio of 6.49.

Q32 Bio (NASDAQ:QTTB) last released its quarterly earnings data on Thursday, August 8th. The company reported ($1.42) EPS for the quarter, missing the consensus estimate of ($1.00) by ($0.42). Equities analysts anticipate that Q32 Bio will post -11.76 earnings per share for the current year.

Institutional Trading of Q32 Bio

A number of institutional investors have recently made changes to their positions in QTTB. Acadian Asset Management LLC acquired a new stake in shares of Q32 Bio in the 1st quarter worth $62,000. Rhumbline Advisers boosted its position in shares of Q32 Bio by 11,681.5% in the 2nd quarter. Rhumbline Advisers now owns 7,658 shares of the company’s stock worth $137,000 after purchasing an additional 7,593 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Q32 Bio in the 2nd quarter worth $265,000. Bank of New York Mellon Corp acquired a new stake in shares of Q32 Bio in the 2nd quarter worth $315,000. Finally, Ikarian Capital LLC acquired a new stake in shares of Q32 Bio in the 1st quarter worth $381,000. Institutional investors and hedge funds own 31.32% of the company’s stock.

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.