Q32 Bio (NASDAQ:QTTB) Insider Shelia Violette Sells 2,798 Shares

Q32 Bio Inc. (NASDAQ:QTTB) insider Shelia Violette sold 2,798 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $16.56, for a total value of $46,334.88. Following the sale, the insider owned 127,771 shares of the company’s stock, valued at approximately $2,115,887.76. The trade was a 2.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Q32 Bio Stock Performance

QTTB opened at $16.15 on Friday. Q32 Bio Inc. has a 52-week low of $1.62 and a 52-week high of $23.57. The firm has a market cap of $480.79 million, a P/E ratio of 5.38 and a beta of 0.23. The business’s fifty day moving average is $14.84 and its 200-day moving average is $9.67.

Q32 Bio (NASDAQ:QTTB) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.44) EPS for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.02. On average, research analysts predict that Q32 Bio Inc. will post -1.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on QTTB. Weiss Ratings upgraded shares of Q32 Bio from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 21st. Oppenheimer boosted their price target on Q32 Bio from $20.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. HC Wainwright raised their price objective on Q32 Bio from $13.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Mizuho assumed coverage on Q32 Bio in a research report on Friday, May 22nd. They issued an “outperform” rating and a $14.00 target price on the stock. Finally, Cantor Fitzgerald started coverage on Q32 Bio in a research note on Monday, May 18th. They set an “overweight” rating for the company. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $31.00.

Institutional Investors Weigh In On Q32 Bio

A number of institutional investors have recently made changes to their positions in the stock. Atlas Venture Life Science Advisors LLC boosted its holdings in Q32 Bio by 29.9% in the second quarter. Atlas Venture Life Science Advisors LLC now owns 2,717,106 shares of the company’s stock valued at $34,616,000 after acquiring an additional 625,000 shares during the last quarter. Susquehanna International Group LLP bought a new stake in Q32 Bio in the second quarter valued at $297,000. Carlyle Group Inc. acquired a new position in Q32 Bio during the 2nd quarter worth approximately $769,000. BlackRock Inc. bought a new position in shares of Q32 Bio in the 2nd quarter worth $1,510,000. Finally, ADAR1 Capital Management LLC lifted its position in Q32 Bio by 75.0% in the 1st quarter. ADAR1 Capital Management LLC now owns 35,000 shares of the company’s stock valued at $225,000 after acquiring an additional 15,000 shares in the last quarter. Institutional investors 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.