Brokerages Set Q32 Bio Inc. (NASDAQ:QTTB) Price Target at $72.33

Shares of Q32 Bio Inc. (NASDAQ:QTTB) have been assigned an average rating of “Buy” from the seven analysts that are presently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $72.33.

Several brokerages recently weighed in on QTTB. Raymond James began coverage on Q32 Bio in a report on Thursday, October 24th. They set a “strong-buy” rating and a $90.00 price target for the company. Wells Fargo & Company started coverage on Q32 Bio in a report on Wednesday, September 11th. They issued an “overweight” rating and a $95.00 target price for the company.

Q32 Bio Price Performance

Shares of NASDAQ QTTB opened at $26.92 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 6.53 and a quick ratio of 6.53. The stock has a fifty day moving average price of $42.70 and a 200 day moving average price of $34.91. Q32 Bio has a 1-year low of $9.18 and a 1-year high of $53.79. The company has a market cap of $327.89 million, a PE ratio of -1.89 and a beta of -0.32.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Values First Advisors Inc. purchased a new position in shares of Q32 Bio in the third quarter valued at $33,000. BNP Paribas Financial Markets increased its position in Q32 Bio by 199.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,298 shares of the company’s stock worth $58,000 after purchasing an additional 864 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Q32 Bio during the 1st quarter worth about $62,000. Rhumbline Advisers increased its position in Q32 Bio by 11,681.5% during 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. Finally, MetLife Investment Management LLC purchased a new stake in Q32 Bio during the 3rd quarter worth about $159,000. Hedge funds and other institutional investors 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.