Geode Capital Management LLC Purchases 24,114 Shares of Q32 Bio Inc. (NASDAQ:QTTB)

Geode Capital Management LLC boosted its holdings in shares of Q32 Bio Inc. (NASDAQ:QTTB) by 22.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 131,768 shares of the company’s stock after acquiring an additional 24,114 shares during the period. Geode Capital Management LLC owned approximately 1.08% of Q32 Bio worth $5,881,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Values First Advisors Inc. bought a new position in shares of Q32 Bio during the 3rd quarter valued at about $33,000. BNP Paribas Financial Markets raised its holdings 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 buying an additional 864 shares during the period. Rhumbline Advisers lifted its stake in Q32 Bio by 11,681.5% in the second quarter. Rhumbline Advisers now owns 7,658 shares of the company’s stock valued at $137,000 after buying an additional 7,593 shares in the last quarter. MetLife Investment Management LLC acquired a new position in shares of Q32 Bio in the third quarter valued at approximately $159,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Q32 Bio during the second quarter worth $265,000. 31.32% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on QTTB shares. Oppenheimer reduced their target price on shares of Q32 Bio from $80.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, December 11th. Leerink Partners reiterated a “market perform” rating and set a $9.00 price objective (down from $68.00) on shares of Q32 Bio in a report on Wednesday, December 11th. Leerink Partnrs cut Q32 Bio from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Raymond James reaffirmed an “outperform” rating and set a $22.00 price target (down from $90.00) on shares of Q32 Bio in a research note on Wednesday, December 11th. Finally, BMO Capital Markets cut their price objective on shares of Q32 Bio from $64.00 to $22.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.86.

Q32 Bio Price Performance

NASDAQ:QTTB opened at $3.91 on Friday. The stock has a market capitalization of $47.63 million, a PE ratio of -0.27 and a beta of -0.46. Q32 Bio Inc. has a 1-year low of $3.02 and a 1-year high of $53.79. The firm has a fifty day simple moving average of $23.51 and a 200 day simple moving average of $32.09. The company has a current ratio of 6.53, a quick ratio of 6.53 and a debt-to-equity ratio of 0.61.

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.