Cubist Systematic Strategies LLC Makes New $42,000 Investment in Q32 Bio Inc. (NASDAQ:QTTB)

Cubist Systematic Strategies LLC purchased a new position in shares of Q32 Bio Inc. (NASDAQ:QTTB) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,249 shares of the company’s stock, valued at approximately $42,000. Cubist Systematic Strategies LLC owned 0.10% of Q32 Bio as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in QTTB. Acorn Capital Advisors LLC purchased a new position in shares of Q32 Bio during the 4th quarter worth $2,764,000. Monaco Asset Management SAM purchased a new position in shares of Q32 Bio during the 4th quarter worth $1,977,000. Mariner LLC purchased a new position in shares of Q32 Bio during the 4th quarter worth $418,000. Rhumbline Advisers lifted its stake in shares of Q32 Bio by 1,164.3% during the 4th quarter. Rhumbline Advisers now owns 105,544 shares of the company’s stock worth $363,000 after purchasing an additional 97,196 shares during the period. Finally, ArrowMark Colorado Holdings LLC purchased a new position in shares of Q32 Bio during the 4th quarter worth $280,000. Hedge funds and other institutional investors own 31.32% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on QTTB shares. Wells Fargo & Company reduced their price target on Q32 Bio from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 12th. BMO Capital Markets lowered Q32 Bio from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $22.00 to $3.00 in a research report on Tuesday, February 11th. Finally, Piper Sandler lowered Q32 Bio from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $20.00 to $4.00 in a research report on Tuesday, February 11th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Q32 Bio presently has a consensus rating of “Hold” and a consensus price target of $24.71.

Q32 Bio Stock Down 1.7%

Shares of NASDAQ QTTB opened at $1.74 on Tuesday. Q32 Bio Inc. has a 12-month low of $1.38 and a 12-month high of $53.79. The company has a market cap of $21.22 million, a P/E ratio of -0.12 and a beta of -0.02. The company has a current ratio of 6.53, a quick ratio of 6.53 and a debt-to-equity ratio of 0.61. The stock has a fifty day moving average price of $1.79 and a 200 day moving average price of $8.16.

Q32 Bio (NASDAQ:QTTB) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.90) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.23) by $0.33. Research analysts anticipate that Q32 Bio Inc. will post -12.32 EPS for the current fiscal year.

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.