Q32 Bio Inc. (NASDAQ:QTTB) Receives $29.86 Consensus Target Price from Brokerages

Shares of Q32 Bio Inc. (NASDAQ:QTTB) have been assigned an average rating of “Moderate Buy” from the eight analysts that are currently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $29.86.

A number of equities research analysts have weighed in on the stock. Piper Sandler cut their price objective on shares of Q32 Bio from $85.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday, December 11th. BMO Capital Markets cut their price target on Q32 Bio from $64.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Raymond James reiterated an “outperform” rating and set a $22.00 price objective (down previously from $90.00) on shares of Q32 Bio in a research note on Wednesday, December 11th. Guggenheim cut Q32 Bio from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 11th. Finally, Leerink Partnrs lowered Q32 Bio from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of QTTB. Values First Advisors Inc. purchased a new position in Q32 Bio in the 3rd quarter worth about $33,000. BNP Paribas Financial Markets grew its stake in shares of Q32 Bio by 199.1% in the third quarter. BNP Paribas Financial Markets now owns 1,298 shares of the company’s stock worth $58,000 after acquiring an additional 864 shares during the period. MetLife Investment Management LLC purchased a new position in shares of Q32 Bio during the third quarter valued at approximately $159,000. Franklin Resources Inc. bought a new position in Q32 Bio during the third quarter valued at approximately $225,000. Finally, Rhumbline Advisers lifted its position in Q32 Bio by 11,681.5% during the second quarter. Rhumbline Advisers now owns 7,658 shares of the company’s stock valued at $137,000 after purchasing an additional 7,593 shares during the period. 31.32% of the stock is owned by institutional investors.

Q32 Bio Stock Performance

Shares of QTTB stock opened at $3.14 on Tuesday. The company has a current ratio of 6.53, a quick ratio of 6.53 and a debt-to-equity ratio of 0.61. The company’s fifty day moving average price is $16.49 and its 200-day moving average price is $31.47. The stock has a market cap of $38.25 million, a PE ratio of -0.22 and a beta of -0.30. Q32 Bio has a 12 month low of $2.99 and a 12 month high of $53.79.

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.