Q32 Bio Inc. (NASDAQ:QTTB) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers boosted its holdings in shares of Q32 Bio Inc. (NASDAQ:QTTB) by 1,164.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 105,544 shares of the company’s stock after buying an additional 97,196 shares during the quarter. Rhumbline Advisers owned 0.87% of Q32 Bio worth $363,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of 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 acquiring an additional 246,664 shares in the last quarter. Eventide Asset Management LLC purchased a new stake in Q32 Bio during the 3rd quarter worth about $8,478,000. Point72 Asset Management L.P. acquired a new stake in Q32 Bio in the 3rd quarter valued at about $3,422,000. Bleakley Financial Group LLC purchased a new position in shares of Q32 Bio in the 4th quarter valued at about $149,000. Finally, State Street Corp boosted its stake in shares of Q32 Bio by 35.5% in the 3rd quarter. State Street Corp now owns 110,164 shares of the company’s stock valued at $4,916,000 after buying an additional 28,865 shares during the period. Hedge funds and other institutional investors own 31.32% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on QTTB. Leerink Partners restated a “market perform” rating and set a $9.00 target price (down from $68.00) on shares of Q32 Bio in a research note on Wednesday, December 11th. Oppenheimer dropped their price objective 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. Guggenheim cut shares of Q32 Bio from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 11th. Raymond James reiterated an “outperform” rating and set a $22.00 target price (down previously from $90.00) on shares of Q32 Bio in a research note on Wednesday, December 11th. Finally, Leerink Partnrs downgraded Q32 Bio from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $24.86.

Q32 Bio Trading Down 4.7 %

NASDAQ:QTTB opened at $2.22 on Monday. The company has a market capitalization of $27.04 million, a PE ratio of -0.16 and a beta of -0.27. Q32 Bio Inc. has a 52-week low of $2.04 and a 52-week high of $53.79. The stock’s 50 day moving average price is $2.98 and its 200 day moving average price is $24.11. The company has a quick ratio of 6.53, a current ratio of 6.53 and a debt-to-equity ratio of 0.61.

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.