Q32 Bio Inc. (NASDAQ:QTTB) Receives $24.71 Consensus Price Target from Analysts

Q32 Bio Inc. (NASDAQ:QTTB) has earned a consensus rating of “Hold” from the eight brokerages that are covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $24.71.

A number of research firms have weighed in on QTTB. Piper Sandler lowered Q32 Bio from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $20.00 to $4.00 in a research note on Tuesday, February 11th. Wells Fargo & Company reduced their price target on Q32 Bio from $16.00 to $15.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 12th. Finally, BMO Capital Markets downgraded Q32 Bio from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $22.00 to $3.00 in a report on Tuesday, February 11th.

Q32 Bio Stock Performance

QTTB opened at $1.66 on Monday. 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 12-month low of $1.38 and a 12-month high of $53.79. The firm has a 50 day moving average of $1.78 and a two-hundred day moving average of $8.07. The firm has a market capitalization of $20.25 million, a PE ratio of -0.12 and a beta of -0.02.

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

Hedge Funds Weigh In On Q32 Bio

A number of hedge funds have recently bought and sold shares of QTTB. Acorn Capital Advisors LLC purchased a new stake in shares of Q32 Bio in the fourth quarter valued at approximately $2,764,000. Monaco Asset Management SAM purchased a new stake in Q32 Bio in the 4th quarter worth $1,977,000. Sanofi purchased a new stake in Q32 Bio in the 4th quarter worth $840,000. Trustees of Columbia University in the City of New York acquired a new position in Q32 Bio during the fourth quarter worth $461,000. Finally, Mariner LLC purchased a new position in Q32 Bio during the fourth quarter valued at $418,000. Hedge funds and other institutional investors own 31.32% of the company’s stock.

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.