Q32 Bio Inc. (NASDAQ:QTTB) Receives $24.86 Average PT from Brokerages

Q32 Bio Inc. (NASDAQ:QTTB) has been assigned a consensus rating of “Hold” from the eight analysts that are currently covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $24.86.

QTTB has been the topic of several recent research reports. Guggenheim downgraded Q32 Bio from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 11th. Raymond James restated an “outperform” rating and issued a $22.00 price objective (down from $90.00) on shares of Q32 Bio in a research report on Wednesday, December 11th. Leerink Partners restated a “market perform” rating and issued a $9.00 price objective (down from $68.00) on shares of Q32 Bio in a research report on Wednesday, December 11th. Leerink Partnrs downgraded Q32 Bio from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Finally, BMO Capital Markets downgraded Q32 Bio from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $22.00 to $3.00 in a research report on Tuesday, February 11th.

Institutional Investors Weigh In On Q32 Bio

Institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets boosted its holdings in 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 purchasing an additional 864 shares during the last quarter. MetLife Investment Management LLC bought a new position in Q32 Bio during the 3rd quarter worth approximately $159,000. Franklin Resources Inc. bought a new position in Q32 Bio during the 3rd quarter worth approximately $225,000. Barclays PLC lifted its holdings in Q32 Bio by 105.2% during the 3rd quarter. Barclays PLC now owns 10,443 shares of the company’s stock worth $465,000 after buying an additional 5,353 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Q32 Bio during the 4th quarter worth approximately $26,000. Hedge funds and other institutional investors own 31.32% of the company’s stock.

Q32 Bio Stock Down 4.7 %

QTTB opened at $2.22 on Wednesday. The business’s fifty day moving average is $2.98 and its two-hundred day moving average is $24.32. 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 cap of $27.04 million, a price-to-earnings ratio of -0.16 and a beta of -0.27. Q32 Bio has a one year low of $2.04 and a one year high of $53.79.

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.