Q32 Bio (NASDAQ:QTTB) Announces Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Q32 Bio (NASDAQ:QTTB) issued its quarterly earnings data on Tuesday. The company reported ($1.16) EPS for the quarter, topping analysts’ consensus estimates of ($1.25) by $0.09, Zacks reports.

Q32 Bio Trading Down 7.2 %

Shares of Q32 Bio stock opened at $1.91 on Wednesday. Q32 Bio has a 1 year low of $1.86 and a 1 year high of $53.79. The company has a market cap of $23.28 million, a price-to-earnings ratio of -0.13 and a beta of -0.27. The company’s fifty day simple moving average is $2.93 and its 200-day simple moving average is $23.59. The company has a current ratio of 6.53, a quick ratio of 6.53 and a debt-to-equity ratio of 0.61.

Analysts Set New Price Targets

A number of brokerages have weighed in on QTTB. Leerink Partnrs lowered Q32 Bio from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Wells Fargo & Company reissued an “equal weight” rating and issued a $16.00 price objective (down from $95.00) on shares of Q32 Bio in a report on Wednesday, December 11th. Oppenheimer dropped their price objective on shares of Q32 Bio from $80.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 11th. Piper Sandler lowered Q32 Bio from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $20.00 to $4.00 in a report on Tuesday, February 11th. Finally, 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 note on Wednesday, December 11th. Six research 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 company has a consensus rating of “Hold” and an average target price of $24.86.

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.