Franklin Resources Inc. Takes Position in Q32 Bio Inc. (NASDAQ:QTTB)

Franklin Resources Inc. bought a new position in shares of Q32 Bio Inc. (NASDAQ:QTTB) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,857 shares of the company’s stock, valued at approximately $225,000.

Several other institutional investors also recently bought and sold shares of the stock. Values First Advisors Inc. bought a new position in shares of Q32 Bio during the 3rd quarter valued at about $33,000. BNP Paribas Financial Markets boosted its stake in Q32 Bio by 199.1% during the third quarter. BNP Paribas Financial Markets now owns 1,298 shares of the company’s stock valued at $58,000 after buying an additional 864 shares during the last quarter. Rhumbline Advisers grew its holdings in Q32 Bio by 11,681.5% during the 2nd quarter. Rhumbline Advisers now owns 7,658 shares of the company’s stock valued at $137,000 after buying an additional 7,593 shares in the last quarter. MetLife Investment Management LLC bought a new stake in Q32 Bio in the 3rd quarter worth approximately $159,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Q32 Bio during the 2nd quarter worth approximately $265,000. 31.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on QTTB. Oppenheimer reduced their price target on shares of Q32 Bio from $80.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 11th. BMO Capital Markets reduced their target price on shares of Q32 Bio from $64.00 to $22.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Leerink Partners reaffirmed a “market perform” rating and issued a $9.00 price target (down previously from $68.00) on shares of Q32 Bio in a report on Wednesday, December 11th. Raymond James reissued an “outperform” rating and set a $22.00 price objective (down from $90.00) on shares of Q32 Bio in a research note on Wednesday, December 11th. Finally, Leerink Partnrs lowered Q32 Bio from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Q32 Bio has a consensus rating of “Moderate Buy” and an average target price of $29.86.

Q32 Bio Price Performance

QTTB opened at $3.44 on Thursday. The business has a fifty day moving average of $25.33 and a 200 day moving average of $32.40. The stock has a market cap of $41.90 million, a P/E ratio of -0.24 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. Q32 Bio Inc. has a 52-week low of $3.02 and a 52-week high of $53.79.

Q32 Bio 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.