Q32 Bio Inc. (NASDAQ:QTTB) Receives Average Rating of “Hold” from Analysts

Shares of Q32 Bio Inc. (NASDAQ:QTTB) have received a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $24.71.

A number of research analysts have recently weighed in on QTTB shares. Guggenheim downgraded Q32 Bio from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 11th. BMO Capital Markets cut Q32 Bio from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $22.00 to $3.00 in a report on Tuesday, February 11th. Oppenheimer lowered their price target on Q32 Bio from $80.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, December 11th. Raymond James reissued an “outperform” rating and set a $22.00 price objective (down previously from $90.00) on shares of Q32 Bio in a research note on Wednesday, December 11th. Finally, Piper Sandler downgraded shares of Q32 Bio from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $20.00 to $4.00 in a research note on Tuesday, February 11th.

Institutional Investors Weigh In On Q32 Bio

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio bought a new position in Q32 Bio during the 4th quarter worth about $26,000. Squarepoint Ops LLC bought a new position in shares of Q32 Bio during the fourth quarter worth about $65,000. Two Sigma Investments LP acquired a new stake in Q32 Bio in the 4th quarter valued at approximately $183,000. Trustees of Columbia University in the City of New York bought a new stake in Q32 Bio in the 4th quarter valued at approximately $461,000. Finally, Sanofi bought a new stake in Q32 Bio in the 4th quarter valued at approximately $840,000. 31.32% of the stock is currently owned by institutional investors and hedge funds.

Q32 Bio Stock Performance

Q32 Bio stock opened at $1.71 on Friday. The company has a market cap of $20.86 million, a PE ratio of -0.12 and a beta of -0.27. The company has a current ratio of 6.53, a quick ratio of 6.53 and a debt-to-equity ratio of 0.61. Q32 Bio has a 1 year low of $1.70 and a 1 year high of $53.79. The company’s 50-day moving average is $2.58 and its two-hundred day moving average is $20.06.

Q32 Bio (NASDAQ:QTTB) last announced its quarterly earnings data on Tuesday, March 11th. The company reported ($1.16) earnings per share for the quarter, beating the consensus estimate of ($1.25) by $0.09. Equities analysts anticipate that Q32 Bio will post -12.32 earnings per share for the current year.

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.