Q32 Bio (NASDAQ:QTTB) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of Q32 Bio (NASDAQ:QTTB) from a hold rating to a sell rating in a research report released on Saturday.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Q32 Bio in a research note on Tuesday, October 14th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $12.17.

Q32 Bio Trading Down 11.9%

Shares of QTTB opened at $3.17 on Friday. The company’s 50 day simple moving average is $2.13 and its 200-day simple moving average is $1.92. The firm has a market cap of $38.67 million, a PE ratio of -0.74 and a beta of 0.11. Q32 Bio has a 12-month low of $1.35 and a 12-month high of $53.17.

Q32 Bio (NASDAQ:QTTB) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.78) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.14) by $0.36. As a group, equities research analysts forecast that Q32 Bio will post -12.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Marshall Wace LLP purchased a new stake in Q32 Bio in the 2nd quarter valued at approximately $25,000. Acadian Asset Management LLC acquired a new stake in shares of Q32 Bio in the 1st quarter valued at approximately $50,000. AQR Capital Management LLC acquired a new stake in shares of Q32 Bio in the 1st quarter valued at approximately $68,000. Jane Street Group LLC purchased a new stake in shares of Q32 Bio in the second quarter valued at approximately $69,000. Finally, Goldman Sachs Group Inc. grew its holdings in Q32 Bio by 140.9% during the first quarter. Goldman Sachs Group Inc. now owns 44,373 shares of the company’s stock worth $73,000 after acquiring an additional 25,953 shares during the period. 31.32% of the stock is owned by hedge funds and other 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.