Bleakley Financial Group LLC Invests $149,000 in Q32 Bio Inc. (NASDAQ:QTTB)

Bleakley Financial Group LLC purchased a new stake in Q32 Bio Inc. (NASDAQ:QTTB) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 43,360 shares of the company’s stock, valued at approximately $149,000. Bleakley Financial Group LLC owned about 0.36% of Q32 Bio as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Values First Advisors Inc. acquired a new stake in Q32 Bio during the 3rd quarter worth $33,000. FMR LLC grew its position in shares of Q32 Bio by 137.3% in the 3rd quarter. FMR LLC now owns 426,302 shares of the company’s stock valued at $19,022,000 after purchasing an additional 246,664 shares during the period. BNP Paribas Financial Markets boosted its holdings 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 valued at $58,000 after buying an additional 864 shares during the period. MetLife Investment Management LLC acquired a new position in Q32 Bio in the 3rd quarter worth $159,000. Finally, Eventide Asset Management LLC acquired a new position in shares of Q32 Bio during the third quarter worth about $8,478,000. 31.32% of the stock is owned by institutional investors.

Q32 Bio Stock Down 7.6 %

QTTB opened at $2.66 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 6.53 and a current ratio of 6.53. The company has a market capitalization of $32.40 million, a P/E ratio of -0.19 and a beta of -0.32. Q32 Bio Inc. has a fifty-two week low of $2.59 and a fifty-two week high of $53.79. The stock has a fifty day moving average of $5.48 and a 200-day moving average of $28.53.

Analyst Ratings Changes

Several brokerages have issued reports on QTTB. Leerink Partnrs lowered shares of Q32 Bio from a “strong-buy” rating to a “hold” rating 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. Wells Fargo & Company reissued an “equal weight” rating and issued a $16.00 target price (down from $95.00) on shares of Q32 Bio in a research note on Wednesday, December 11th. Piper Sandler downgraded shares of Q32 Bio from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $20.00 to $4.00 in a report on Tuesday. Finally, BMO Capital Markets downgraded shares of Q32 Bio from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $22.00 to $3.00 in a research report on Tuesday. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Q32 Bio presently has a consensus rating of “Hold” and a consensus target price of $24.86.

Q32 Bio 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.