Brokerages Set Q32 Bio Inc. (NASDAQ:QTTB) Price Target at $29.86

Q32 Bio Inc. (NASDAQ:QTTB) has received a consensus recommendation of “Moderate Buy” from the eight analysts that are covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $29.86.

A number of equities research analysts have recently issued reports on QTTB shares. Guggenheim cut Q32 Bio from a “buy” rating to a “neutral” rating in a report on Wednesday, December 11th. BMO Capital Markets decreased their price objective on Q32 Bio from $64.00 to $22.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Piper Sandler lowered their price objective on Q32 Bio from $85.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 11th. Raymond James reissued an “outperform” rating and issued a $22.00 target price (down previously from $90.00) on shares of Q32 Bio in a research report on Wednesday, December 11th. Finally, Oppenheimer lowered their price target on shares of Q32 Bio from $80.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 11th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC acquired a new stake in shares of Q32 Bio in the 2nd quarter valued at approximately $265,000. Values First Advisors Inc. bought a new position in Q32 Bio in the 3rd quarter valued at approximately $33,000. FMR LLC boosted its position in Q32 Bio by 137.3% in the third quarter. FMR LLC now owns 426,302 shares of the company’s stock valued at $19,022,000 after buying an additional 246,664 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Q32 Bio by 199.1% during the third 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 last quarter. Finally, MetLife Investment Management LLC acquired a new position in shares of Q32 Bio during the third quarter worth $159,000. 31.32% of the stock is owned by institutional investors.

Q32 Bio Stock Performance

Shares of QTTB stock opened at $3.18 on Friday. Q32 Bio has a 52 week low of $2.90 and a 52 week high of $53.79. The company has a market capitalization of $38.73 million, a price-to-earnings ratio of -0.22 and a beta of -0.32. The company has a 50-day simple moving average of $6.39 and a 200 day simple moving average of $29.02. The company has a debt-to-equity ratio of 0.61, a quick ratio of 6.53 and a current ratio of 6.53.

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.