Q32 Bio (NASDAQ:QTTB) Coverage Initiated by Analysts at Leerink Partners

Leerink Partners started coverage on shares of Q32 Bio (NASDAQ:QTTB) in a report issued on Monday morning, MarketBeat.com reports. The brokerage issued an outperform rating and a $40.00 target price on the stock.

Several other equities research analysts have also recently weighed in on QTTB. Morgan Stanley started coverage on Q32 Bio in a report on Monday, August 24th. They issued an “overweight” rating and a $34.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating on shares of Q32 Bio in a research note on Wednesday, September 16th. HC Wainwright raised their price target 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 upgraded Q32 Bio to a “strong-buy” rating in a report on Monday, September 7th. Finally, Jefferies Financial Group initiated coverage on shares of Q32 Bio in a research note on Monday, September 28th. They issued a “buy” rating and a $29.00 price objective for the company. 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.17.

Q32 Bio Stock Performance

Shares of NASDAQ QTTB opened at $8.74 on Monday. Q32 Bio has a 52-week low of $1.90 and a 52-week high of $23.57. The firm has a market capitalization of $260.19 million, a price-to-earnings ratio of 2.91 and a beta of 0.31. The stock has a 50 day moving average price of $12.42 and a 200 day moving average price of $10.87.

Q32 Bio (NASDAQ:QTTB) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.02. Analysts forecast that Q32 Bio will post -1.54 earnings per share for the current year.

Insider Activity

In related news, insider Shelia M. Violette sold 2,798 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider owned 127,771 shares of the company’s stock, valued at $2,115,887.76. The trade was a 2.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Lee Kalowski sold 3,972 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $16.56, for a total transaction of $65,776.32. Following the completion of the transaction, the chief financial officer directly owned 138,471 shares of the company’s stock, valued at $2,293,079.76. This trade represents a 2.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 16,615 shares of company stock worth $275,144. Corporate insiders own 34.46% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Squarepoint Ops LLC bought a new position in shares of Q32 Bio in the 2nd quarter worth $303,000. Atlas Venture Life Science Advisors LLC lifted its stake 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 worth $34,616,000 after purchasing an additional 625,000 shares during the last quarter. Susquehanna International Group LLP purchased a new stake in shares of Q32 Bio during the 2nd quarter worth $297,000. Carlyle Group Inc. bought a new stake in Q32 Bio during the second quarter valued at about $769,000. Finally, BlackRock Inc. bought a new stake in Q32 Bio during the second quarter valued at about $1,510,000. 31.32% of the stock is currently owned by hedge funds and other institutional investors.

About Q32 Bio

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.