Wells Fargo & Company Lowers Q32 Bio (NASDAQ:QTTB) Price Target to $15.00

Q32 Bio (NASDAQ:QTTB) had its target price lowered by investment analysts at Wells Fargo & Company from $16.00 to $15.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock.

A number of other analysts also recently weighed in on QTTB. Raymond James reissued an “outperform” rating and set a $22.00 target price (down previously from $90.00) on shares of Q32 Bio in a research report on Wednesday, December 11th. Piper Sandler cut shares of Q32 Bio from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $20.00 to $4.00 in a research report on Tuesday, February 11th. BMO Capital Markets lowered shares of Q32 Bio from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $22.00 to $3.00 in a report on Tuesday, February 11th. Guggenheim cut shares of Q32 Bio from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 11th. Finally, Oppenheimer lowered their price objective on Q32 Bio from $80.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, December 11th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $24.71.

Q32 Bio Stock Down 3.2 %

Shares of NASDAQ QTTB opened at $1.84 on Wednesday. The firm has a market cap of $22.41 million, a PE ratio of -0.13 and a beta of -0.27. The company has a 50 day simple moving average of $2.86 and a 200 day simple moving average of $23.29. The company has a debt-to-equity ratio of 0.61, a current ratio of 6.53 and a quick ratio of 6.53. Q32 Bio has a 1 year low of $1.80 and a 1 year high of $53.79.

Q32 Bio (NASDAQ:QTTB) last announced its earnings results on Tuesday, March 11th. The company reported ($1.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.25) by $0.09. On average, research analysts forecast that Q32 Bio will post -12.32 EPS for the current year.

Institutional Investors Weigh In On Q32 Bio

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets boosted its position in shares of Q32 Bio by 199.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,298 shares of the company’s stock worth $58,000 after purchasing an additional 864 shares in the last quarter. MetLife Investment Management LLC bought a new stake in shares of Q32 Bio during the third quarter valued at approximately $159,000. Franklin Resources Inc. bought a new position in shares of Q32 Bio in the third quarter valued at approximately $225,000. Public Employees Retirement System of Ohio bought a new stake in shares of Q32 Bio in the 4th quarter worth $26,000. Finally, Barclays PLC raised its holdings in shares of Q32 Bio by 105.2% in the third quarter. Barclays PLC now owns 10,443 shares of the company’s stock valued at $465,000 after purchasing an additional 5,353 shares during the last quarter. 31.32% of the stock is 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.