Q32 Bio Inc. (NASDAQ:QTTB) Given Consensus Rating of “Hold” by Brokerages

Q32 Bio Inc. (NASDAQ:QTTB) has received a consensus recommendation of “Hold” from the eight brokerages that are covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $24.86.

Several brokerages have recently commented on QTTB. Oppenheimer decreased their target price on Q32 Bio from $80.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, December 11th. BMO Capital Markets downgraded shares of Q32 Bio from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $22.00 to $3.00 in a report on Tuesday. Leerink Partnrs cut shares of Q32 Bio from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Piper Sandler lowered shares of Q32 Bio from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $20.00 to $4.00 in a report on Tuesday. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $16.00 price objective (down previously from $95.00) on shares of Q32 Bio in a research note on Wednesday, December 11th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of QTTB. Values First Advisors Inc. acquired a new position in shares of Q32 Bio during the third quarter worth approximately $33,000. BNP Paribas Financial Markets raised its stake in Q32 Bio by 199.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,298 shares of the company’s stock valued at $58,000 after acquiring an additional 864 shares in the last quarter. MetLife Investment Management LLC acquired a new position in Q32 Bio during the 3rd quarter worth $159,000. Franklin Resources Inc. bought a new position in shares of Q32 Bio in the third quarter worth $225,000. Finally, Barclays PLC increased its holdings in shares of Q32 Bio by 105.2% during the third quarter. Barclays PLC now owns 10,443 shares of the company’s stock valued at $465,000 after purchasing an additional 5,353 shares during the period. 31.32% of the stock is owned by institutional investors and hedge funds.

Q32 Bio Stock Performance

Shares of QTTB stock opened at $2.67 on Friday. The stock has a market capitalization of $32.52 million, a price-to-earnings ratio of -0.19 and a beta of -0.32. Q32 Bio has a one year low of $2.58 and a one year high of $53.79. The company’s 50-day simple moving average is $4.62 and its 200-day simple moving average is $28.17. The company has a debt-to-equity ratio of 0.61, a quick ratio of 6.53 and a current ratio of 6.53.

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.