Q32 Bio Inc. (NASDAQ:QTTB) Receives $29.86 Consensus Target Price from Analysts

Shares of Q32 Bio Inc. (NASDAQ:QTTB) have been assigned an average rating of “Moderate Buy” from the eight brokerages that are covering the company, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $29.86.

QTTB has been the subject of a number of analyst reports. Guggenheim cut Q32 Bio from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 11th. Raymond James reissued an “outperform” rating and set a $22.00 price target (down from $90.00) on shares of Q32 Bio in a research report on Wednesday, December 11th. BMO Capital Markets cut their price objective on shares of Q32 Bio from $64.00 to $22.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. Leerink Partnrs cut shares of Q32 Bio from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $16.00 target price (down from $95.00) on shares of Q32 Bio in a research note on Wednesday, December 11th.

Q32 Bio Stock Up 7.5 %

Q32 Bio stock opened at $3.59 on Friday. Q32 Bio has a twelve month low of $3.02 and a twelve month high of $53.79. The business has a fifty day moving average of $32.53 and a two-hundred day moving average of $33.36. The firm has a market cap of $43.73 million, a P/E ratio of -0.25 and a beta of -0.46. The company has a quick ratio of 6.53, a current ratio of 6.53 and a debt-to-equity ratio of 0.61.

Hedge Funds Weigh In On Q32 Bio

A number of large investors have recently added to or reduced their stakes in QTTB. Values First Advisors Inc. acquired a new stake in shares of Q32 Bio in the third quarter valued at about $33,000. BNP Paribas Financial Markets boosted its holdings in Q32 Bio by 199.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,298 shares of the company’s stock worth $58,000 after buying an additional 864 shares during the last quarter. MetLife Investment Management LLC purchased a new stake in Q32 Bio during the 3rd quarter worth approximately $159,000. Franklin Resources Inc. purchased a new stake in Q32 Bio during the 3rd quarter worth approximately $225,000. Finally, Rhumbline Advisers lifted its position in shares of Q32 Bio by 11,681.5% in the second quarter. Rhumbline Advisers now owns 7,658 shares of the company’s stock valued at $137,000 after acquiring an additional 7,593 shares in the last quarter. 31.32% of the stock is currently owned by institutional investors and hedge funds.

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.