Q32 Bio Inc. (NASDAQ:QTTB) Receives $13.50 Consensus PT from Brokerages

Q32 Bio Inc. (NASDAQ:QTTB) has received an average recommendation of “Moderate Buy” from the five research firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $13.50.

A number of brokerages have weighed in on QTTB. Weiss Ratings upgraded Q32 Bio from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. HC Wainwright reissued a “buy” rating and issued a $13.00 target price on shares of Q32 Bio in a report on Tuesday, May 5th. Zacks Research downgraded Q32 Bio from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Mizuho initiated coverage on Q32 Bio in a report on Friday, May 22nd. They issued an “outperform” rating and a $14.00 target price on the stock. Finally, Cantor Fitzgerald initiated coverage on Q32 Bio in a research note on Monday, May 18th. They issued an “overweight” rating on the stock.

Q32 Bio Stock Performance

Shares of NASDAQ:QTTB opened at $10.31 on Friday. The business’s fifty day moving average price is $6.25 and its two-hundred day moving average price is $4.60. Q32 Bio has a fifty-two week low of $1.35 and a fifty-two week high of $13.15. The stock has a market capitalization of $174.86 million, a price-to-earnings ratio of 3.88 and a beta of -0.05. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.36 and a quick ratio of 5.36.

Q32 Bio (NASDAQ:QTTB) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.14. As a group, analysts predict that Q32 Bio will post -1.96 EPS for the current fiscal year.

Hedge Funds Weigh In On Q32 Bio

A number of institutional investors and hedge funds have recently bought and sold shares of QTTB. AQR Capital Management LLC acquired a new position in Q32 Bio in the first quarter worth $68,000. Goldman Sachs Group Inc. boosted its stake in Q32 Bio by 140.9% in the first quarter. Goldman Sachs Group Inc. now owns 44,373 shares of the company’s stock worth $73,000 after purchasing an additional 25,953 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Q32 Bio in the first quarter worth $50,000. Marshall Wace LLP acquired a new position in Q32 Bio in the second quarter worth $25,000. Finally, Jane Street Group LLC acquired a new position in Q32 Bio in the second quarter worth $69,000. Institutional investors and hedge funds own 31.32% of the company’s stock.

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.