Renaissance Technologies LLC Takes $265,000 Position in Q32 Bio Inc. (NASDAQ:QTTB)

Renaissance Technologies LLC bought a new position in shares of Q32 Bio Inc. (NASDAQ:QTTB) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 14,764 shares of the company’s stock, valued at approximately $265,000. Renaissance Technologies LLC owned 0.12% of Q32 Bio as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Harvard Management Co. Inc. acquired a new position in Q32 Bio during the second quarter worth $2,925,000. Rhumbline Advisers raised its holdings 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 acquiring an additional 7,593 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Q32 Bio in the 2nd quarter valued at about $315,000. Ikarian Capital LLC acquired a new position in Q32 Bio during the 1st quarter valued at about $381,000. Finally, ARCH Venture Management LLC bought a new stake in Q32 Bio during the 1st quarter worth approximately $5,461,000. Institutional investors and hedge funds own 31.32% of the company’s stock.

Q32 Bio Price Performance

Q32 Bio stock opened at $48.55 on Friday. Q32 Bio Inc. has a 52 week low of $8.24 and a 52 week high of $53.79. The company’s 50 day moving average price is $42.33 and its two-hundred day moving average price is $30.98. The stock has a market cap of $585.51 million, a P/E ratio of -2.11 and a beta of -0.32. The company has a quick ratio of 6.49, a current ratio of 6.49 and a debt-to-equity ratio of 0.37.

Q32 Bio (NASDAQ:QTTB) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($1.42) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.42). On average, equities analysts predict that Q32 Bio Inc. will post -11.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Guggenheim started coverage on Q32 Bio in a report on Monday, June 17th. They issued a “buy” rating and a $100.00 target price on the stock. Wells Fargo & Company initiated coverage on Q32 Bio in a research report on Wednesday, September 11th. They issued an “overweight” rating and a $95.00 price target for the company. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $68.80.

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.