Q32 Bio Inc. (NASDAQ:QTTB) Short Interest Update

Q32 Bio Inc. (NASDAQ:QTTB) saw a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 1,030,000 shares, a decrease of 21.4% from the February 13th total of 1,310,000 shares. Based on an average daily trading volume, of 411,900 shares, the short-interest ratio is currently 2.5 days. Currently, 23.4% of the company’s stock are short sold.

Hedge Funds Weigh In On Q32 Bio

Several hedge funds have recently made changes to their positions in QTTB. Public Employees Retirement System of Ohio acquired a new position in shares of Q32 Bio in the 4th quarter valued at $26,000. Hussman Strategic Advisors Inc. acquired a new position in shares of Q32 Bio in the 4th quarter valued at $36,000. AXQ Capital LP acquired a new position in shares of Q32 Bio in the 4th quarter valued at $36,000. Raymond James Financial Inc. acquired a new stake in Q32 Bio during the 4th quarter worth about $37,000. Finally, Drive Wealth Management LLC acquired a new stake in Q32 Bio during the 4th quarter worth about $38,000. 31.32% of the stock is owned by institutional investors and hedge funds.

Q32 Bio Stock Performance

Shares of NASDAQ QTTB traded down $0.05 during mid-day trading on Tuesday, hitting $2.14. The stock had a trading volume of 163,254 shares, compared to its average volume of 174,536. 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 50 day moving average of $2.80 and a two-hundred day moving average of $22.56. Q32 Bio has a twelve month low of $1.80 and a twelve month high of $53.79. The firm has a market cap of $26.10 million, a PE ratio of -0.15 and a beta of -0.27.

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

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Wells Fargo & Company lowered their target price on Q32 Bio from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Wednesday, March 12th. BMO Capital Markets lowered Q32 Bio from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $22.00 to $3.00 in a report on Tuesday, February 11th. Leerink Partnrs downgraded Q32 Bio from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Leerink Partners reaffirmed a “market perform” rating and set a $9.00 price target (down from $68.00) on shares of Q32 Bio in a research report on Wednesday, December 11th. Finally, Piper Sandler downgraded 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. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $24.71.

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.