Monaco Asset Management SAM Buys New Position in Q32 Bio Inc. (NASDAQ:QTTB)

Monaco Asset Management SAM bought a new stake in shares of Q32 Bio Inc. (NASDAQ:QTTB) during the 4th quarter, HoldingsChannel reports. The firm bought 574,816 shares of the company’s stock, valued at approximately $1,977,000.

Several other institutional investors have also modified their holdings of the business. BNP Paribas Financial Markets lifted its stake 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 worth $58,000 after acquiring an additional 864 shares in the last quarter. MetLife Investment Management LLC acquired a new position in shares of Q32 Bio in the third quarter worth about $159,000. Franklin Resources Inc. acquired a new position in shares of Q32 Bio in the third quarter worth about $225,000. Barclays PLC lifted its stake in shares of Q32 Bio by 105.2% in the third quarter. Barclays PLC now owns 10,443 shares of the company’s stock worth $465,000 after acquiring an additional 5,353 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. acquired a new position in shares of Q32 Bio in the fourth quarter worth about $36,000. Institutional investors and hedge funds own 31.32% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Raymond James reiterated an “outperform” rating and issued a $22.00 price target (down previously from $90.00) on shares of Q32 Bio in a research note on Wednesday, December 11th. Leerink Partners reaffirmed a “market perform” rating and set a $9.00 price target (down previously from $68.00) 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 reduced their price target for the stock from $20.00 to $4.00 in a research report on Tuesday, February 11th. Oppenheimer reduced their price target on shares of Q32 Bio from $80.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 11th. Finally, BMO Capital Markets cut shares of Q32 Bio from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $22.00 to $3.00 in a research report on Tuesday, February 11th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Q32 Bio presently has a consensus rating of “Hold” and a consensus price target of $24.71.

Q32 Bio Trading Down 3.2 %

NASDAQ QTTB opened at $1.84 on Friday. Q32 Bio Inc. has a one year low of $1.80 and a one year high of $53.79. 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 quick ratio of 6.53 and a current ratio of 6.53. The firm has a market capitalization of $22.41 million, a PE ratio of -0.13 and a beta of -0.27.

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

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.