Q32 Bio (NASDAQ:QTTB) Trading Up 0.9%

Q32 Bio Inc. (NASDAQ:QTTB)’s share price shot up 0.9% during mid-day trading on Wednesday . The company traded as high as $21.90 and last traded at $20.69. 83,966 shares changed hands during trading, an increase of 89% from the average session volume of 44,419 shares. The stock had previously closed at $20.50.

Analysts Set New Price Targets

A number of research firms recently issued reports on QTTB. Oppenheimer began coverage on shares of Q32 Bio in a research note on Thursday, April 11th. They set an “outperform” rating and a $50.00 price target on the stock. SVB Leerink began coverage on shares of Q32 Bio in a research note on Tuesday, May 21st. They set an “outperform” rating and a $54.00 price target on the stock. Piper Sandler began coverage on shares of Q32 Bio in a research note on Tuesday, April 2nd. They set an “overweight” rating and a $45.00 price target on the stock. Guggenheim began coverage on shares of Q32 Bio in a research note on Monday, June 17th. They set a “buy” rating and a $100.00 price target on the stock. Finally, Leerink Partnrs raised shares of Q32 Bio to a “strong-buy” rating in a research note on Tuesday, May 21st. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $62.25.

Q32 Bio Price Performance

The company has a current ratio of 4.19, a quick ratio of 4.19 and a debt-to-equity ratio of 0.19. The stock has a market cap of $313.07 million, a price-to-earnings ratio of -0.80 and a beta of -0.34. The stock’s 50-day simple moving average is $22.85.

Q32 Bio (NASDAQ:QTTB) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($13.15) EPS for the quarter, missing analysts’ consensus estimates of ($1.42) by ($11.73). As a group, sell-side analysts expect that Q32 Bio Inc. will post -10.74 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC bought a new position in shares of Q32 Bio in the first quarter worth about $62,000. Ikarian Capital LLC bought a new position in shares of Q32 Bio in the first quarter worth about $381,000. BML Capital Management LLC bought a new position in shares of Q32 Bio in the first quarter worth about $424,000. Affinity Asset Advisors LLC bought a new position in shares of Q32 Bio in the first quarter worth about $473,000. Finally, Vanguard Group Inc. bought a new position in shares of Q32 Bio in the first quarter worth about $1,836,000. 31.32% of the stock is currently owned by institutional investors.

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.