Q32 Bio (NASDAQ:QTTB) Trading Down 3.7%

Shares of Q32 Bio Inc. (NASDAQ:QTTB) dropped 3.7% on Monday . The stock traded as low as $45.70 and last traded at $47.17. Approximately 18,853 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 64,363 shares. The stock had previously closed at $48.98.

Analysts Set New Price Targets

Several equities research analysts recently commented on QTTB shares. Guggenheim assumed coverage on Q32 Bio in a report on Monday, June 17th. They issued a “buy” rating and a $100.00 price objective for the company. Wells Fargo & Company assumed coverage on shares of Q32 Bio in a report on Wednesday, September 11th. They set an “overweight” rating and a $95.00 price target on the stock. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $68.80.

Q32 Bio Stock Performance

The firm’s 50-day simple moving average is $38.88. The firm has a market capitalization of $538.35 million, a PE ratio of -1.40 and a beta of -0.32. The company has a debt-to-equity ratio of 0.37, a quick ratio of 6.49 and a current ratio of 6.49.

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). As a group, equities research analysts expect that Q32 Bio Inc. will post -11.76 earnings per share for the current year.

Institutional Trading of Q32 Bio

Several institutional investors and hedge funds have recently modified their holdings of the company. Atlas Venture Life Science Advisors LLC bought a new stake in Q32 Bio during the first quarter valued at about $35,649,000. Carlyle Group Inc. purchased a new position in Q32 Bio in the 1st quarter worth approximately $18,074,000. ARCH Venture Management LLC bought a new position in Q32 Bio in the 1st quarter worth approximately $5,461,000. Harvard Management Co. Inc. purchased a new stake in Q32 Bio during the 2nd quarter valued at approximately $2,925,000. Finally, Platinum Investment Management Ltd. purchased a new stake in Q32 Bio during the 1st quarter valued at approximately $1,874,000. 31.32% of the stock is currently owned by institutional investors.

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.