Q32 Bio (NASDAQ:QTTB) Now Covered by Raymond James

Raymond James initiated coverage on shares of Q32 Bio (NASDAQ:QTTB) in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. The brokerage issued a strong-buy rating and a $90.00 price objective on the stock.

Separately, Wells Fargo & Company assumed coverage on Q32 Bio in a research report on Wednesday, September 11th. They issued an “overweight” rating and a $95.00 price target for the company. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $72.33.

Q32 Bio Trading Down 0.3 %

QTTB opened at $47.62 on Thursday. Q32 Bio has a 52 week low of $8.24 and a 52 week high of $53.79. The company has a quick ratio of 6.49, a current ratio of 6.49 and a debt-to-equity ratio of 0.37. The stock’s fifty day moving average is $44.20 and its two-hundred day moving average is $32.52. The company has a market capitalization of $568.68 million, a P/E ratio of -1.46 and a beta of -0.32.

Q32 Bio (NASDAQ:QTTB) last issued its earnings results on Thursday, August 8th. The company reported ($1.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($0.42). Analysts forecast that Q32 Bio will post -11.76 earnings per share for the current year.

Institutional Investors Weigh In On Q32 Bio

A number of large investors have recently bought and sold shares of QTTB. Atlas Venture Life Science Advisors LLC purchased a new position in shares of Q32 Bio during the first quarter worth $35,649,000. Ensign Peak Advisors Inc boosted its stake in shares of Q32 Bio by 150.6% in the second quarter. Ensign Peak Advisors Inc now owns 64,481 shares of the company’s stock worth $1,157,000 after acquiring an additional 38,750 shares during the last quarter. Harvard Management Co. Inc. purchased a new stake in shares of Q32 Bio during the second quarter worth approximately $2,925,000. Vanguard Group Inc. acquired a new position in Q32 Bio in the 1st quarter valued at $1,836,000. Finally, Bank of New York Mellon Corp purchased a new position in Q32 Bio in the 2nd quarter valued at $315,000. Hedge funds and other institutional investors own 31.32% of the company’s stock.

Q32 Bio Company Profile

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.