Q32 Bio (NASDAQ:QTTB) CEO Sells 3,221 Shares of Company Stock

Q32 Bio Inc. (NASDAQ:QTTB) CEO Jodie Morrison sold 3,221 shares of the firm’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 $26,798.72. Following the transaction, the chief executive officer directly owned 340,038 shares of the company’s stock, valued at $2,829,116.16. The trade was a 0.94% decrease in their position. The transaction was disclosed in a legal 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.

Jodie Pope Morrison also recently made the following trade(s):

• On Tuesday, August 25th, Jodie Morrison sold 9,845 shares of Q32 Bio stock. The stock was sold at an average price of $16.56, for a total transaction of $163,033.20.

Q32 Bio Price Performance

Shares of Q32 Bio stock traded down $0.05 during trading on Wednesday, hitting $8.01. The company’s stock had a trading volume of 889,313 shares, compared to its average volume of 781,863. The stock has a market cap of $238.46 million, a price-to-earnings ratio of 2.67 and a beta of 0.31. Q32 Bio Inc. has a 52 week low of $1.90 and a 52 week high of $23.57. The stock has a 50-day moving average price of $12.08 and a two-hundred day moving average price of $10.88.

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

Analyst Ratings Changes

QTTB has been the subject of a number of analyst reports. Morgan Stanley assumed coverage on Q32 Bio in a research report on Monday, August 24th. They set an “overweight” rating and a $34.00 price objective for the company. Leerink Partners assumed coverage on Q32 Bio in a report on Monday. They issued an “outperform” rating and a $40.00 target price on the stock. HC Wainwright upped their target price on Q32 Bio from $13.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Weiss Ratings raised shares of Q32 Bio from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 21st. Finally, Mizuho upgraded shares of Q32 Bio to a “strong-buy” rating in a report on Monday, September 7th. One 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.com, the company has an average rating of “Moderate Buy” and a consensus price target of $32.17.

Hedge Funds Weigh In On Q32 Bio

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cetera Investment Advisers bought a new stake in Q32 Bio during the first quarter valued at $133,000. Susquehanna International Group LLP bought a new position in shares of Q32 Bio in the 2nd quarter worth about $297,000. Squarepoint Ops LLC bought a new position in shares of Q32 Bio in the 2nd quarter worth about $303,000. ADAR1 Capital Management LLC raised its position in shares of Q32 Bio by 75.0% in the 1st quarter. ADAR1 Capital Management LLC now owns 35,000 shares of the company’s stock worth $225,000 after acquiring an additional 15,000 shares in the last quarter. Finally, Carlyle Group Inc. acquired a new position in shares of Q32 Bio in the 2nd quarter valued at about $769,000. Institutional investors and hedge funds own 31.32% of the company’s stock.

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.