Drive Wealth Management LLC Buys Shares of 10,928 Q32 Bio Inc. (NASDAQ:QTTB)

Drive Wealth Management LLC bought a new stake in shares of Q32 Bio Inc. (NASDAQ:QTTB) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 10,928 shares of the company’s stock, valued at approximately $38,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Franklin Resources Inc. bought a new stake in shares of Q32 Bio during the 3rd quarter valued at $225,000. Barclays PLC raised its position in shares of Q32 Bio by 105.2% during the 3rd quarter. Barclays PLC now owns 10,443 shares of the company’s stock valued at $465,000 after acquiring an additional 5,353 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Q32 Bio by 22.4% during the 3rd quarter. Geode Capital Management LLC now owns 131,768 shares of the company’s stock valued at $5,881,000 after acquiring an additional 24,114 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Q32 Bio during the 3rd quarter valued at $733,000. Finally, State Street Corp raised its position in shares of Q32 Bio by 35.5% during the 3rd quarter. State Street Corp now owns 110,164 shares of the company’s stock valued at $4,916,000 after acquiring an additional 28,865 shares during the last quarter. Institutional investors own 31.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on QTTB shares. BMO Capital Markets dropped their target price on shares of Q32 Bio from $64.00 to $22.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Raymond James restated an “outperform” rating and issued a $22.00 price objective (down previously from $90.00) on shares of Q32 Bio in a research report on Wednesday, December 11th. Guggenheim cut shares of Q32 Bio from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 11th. Oppenheimer lowered their price objective on shares of Q32 Bio from $80.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, December 11th. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $16.00 price objective (down previously from $95.00) on shares of Q32 Bio in a research report on Wednesday, December 11th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Q32 Bio presently has an average rating of “Moderate Buy” and an average price target of $29.86.

Q32 Bio Price Performance

Shares of NASDAQ QTTB opened at $3.23 on Wednesday. The firm has a market cap of $39.34 million, a PE ratio of -0.23 and a beta of -0.30. 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 Inc. has a 1-year low of $2.99 and a 1-year high of $53.79. The company has a fifty day moving average price of $10.60 and a 200 day moving average price of $30.66.

About Q32 Bio

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.