Q32 Bio (NASDAQ:QTTB) CFO Lee Kalowski Sells 1,301 Shares of Stock

Q32 Bio Inc. (NASDAQ:QTTB) CFO Lee Kalowski sold 1,301 shares of the business’s stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $8.32, for a total transaction of $10,824.32. Following the transaction, the chief financial officer owned 137,170 shares of the company’s stock, valued at $1,141,254.40. This trade represents a 0.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Lee Kalowski also recently made the following trade(s):

• On Tuesday, August 25th, Lee Kalowski sold 3,972 shares of Q32 Bio stock. The stock was sold at an average price of $16.56, for a total value of $65,776.32.

Q32 Bio Stock Down 0.6%

Shares of QTTB stock traded down $0.05 on Wednesday, reaching $8.01. The company’s stock had a trading volume of 889,313 shares, compared to its average volume of 781,863. The company has a market capitalization of $238.46 million, a P/E ratio of 2.67 and a beta of 0.31. Q32 Bio Inc. has a 12-month low of $1.90 and a 12-month high of $23.57. The stock’s 50 day simple moving average is $12.08 and its 200-day simple moving average is $10.88.

Q32 Bio (NASDAQ:QTTB) last announced its earnings results on Wednesday, August 5th. The company reported ($0.44) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.02. Research analysts expect that Q32 Bio Inc. will post -1.54 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Morgan Stanley started coverage on Q32 Bio in a report on Monday, August 24th. They set an “overweight” rating and a $34.00 price objective for the company. Jefferies Financial Group assumed coverage on shares of Q32 Bio in a research note on Monday, September 28th. They issued a “buy” rating and a $29.00 target price on the stock. Leerink Partners started coverage on shares of Q32 Bio in a research report on Monday. They set an “outperform” rating and a $40.00 target price for the company. Mizuho raised shares of Q32 Bio to a “strong-buy” rating in a research note on Monday, September 7th. Finally, HC Wainwright increased their price target on shares of Q32 Bio from $13.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Q32 Bio currently has an average rating of “Moderate Buy” and a consensus price target of $32.17.

Institutional Investors Weigh In On Q32 Bio

A number of large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its holdings in shares of Q32 Bio by 107.7% in the 1st quarter. Renaissance Technologies LLC now owns 206,915 shares of the company’s stock worth $1,328,000 after purchasing an additional 107,315 shares in the last quarter. BlackRock Inc. bought a new position in shares of Q32 Bio during the 2nd quarter valued at about $1,510,000. Atlas Venture Life Science Advisors LLC raised its holdings in shares of Q32 Bio by 29.9% during the 2nd quarter. Atlas Venture Life Science Advisors LLC now owns 2,717,106 shares of the company’s stock valued at $34,616,000 after buying an additional 625,000 shares in the last quarter. Carlyle Group Inc. purchased a new position in shares of Q32 Bio during the 2nd quarter valued at about $769,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Q32 Bio during the 2nd quarter valued at about $303,000. Hedge funds and other institutional investors own 31.32% of the company’s stock.

Q32 Bio Company Profile

Q32 Bio is a clinical-stage biotechnology company focused on developing therapies designed to restore immune homeostasis and address diseases driven by immune dysregulation. The company’s approach targets pathways involved in the transforming growth factor beta superfamily, which plays a role in regulating inflammation, tissue repair and immune responses.

Q32 Bio’s lead product candidate is bempikibart, also known as ADX-914, a fully human monoclonal antibody designed to modulate immune activity through selective targeting of the activin receptor type IIA pathway.