Q32 Bio Inc. (NASDAQ:QTTB) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Q32 Bio Inc. (NASDAQ:QTTB) have received a consensus rating of “Hold” from the eight research firms that are covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $12.1667.

Separately, Wall Street Zen cut Q32 Bio from a “hold” rating to a “sell” rating in a research note on Friday, July 18th.

Q32 Bio Price Performance

Shares of NASDAQ QTTB opened at $1.97 on Friday. Q32 Bio has a twelve month low of $1.35 and a twelve month high of $53.79. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 1.68. The company has a market capitalization of $24.03 million and a price-to-earnings ratio of -0.46. The business has a 50 day simple moving average of $1.87 and a 200-day simple moving average of $1.98.

Q32 Bio (NASDAQ:QTTB) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.78) EPS for the quarter, topping analysts’ consensus estimates of ($1.14) by $0.36. As a group, equities research analysts expect that Q32 Bio will post -12.32 earnings per share for the current year.

Institutional Investors Weigh In On Q32 Bio

Several hedge funds have recently bought and sold shares of QTTB. Jane Street Group LLC purchased a new stake in shares of Q32 Bio during the 2nd quarter worth about $69,000. Marshall Wace LLP acquired a new stake in Q32 Bio in the 2nd quarter valued at approximately $25,000. Monaco Asset Management SAM increased its position in Q32 Bio by 17.1% in the 2nd quarter. Monaco Asset Management SAM now owns 591,937 shares of the company’s stock worth $882,000 after buying an additional 86,486 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Q32 Bio by 140.9% during the first quarter. Goldman Sachs Group Inc. now owns 44,373 shares of the company’s stock valued at $73,000 after purchasing an additional 25,953 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in shares of Q32 Bio during the first quarter valued at approximately $50,000. 31.32% of the stock is owned by hedge funds and other institutional investors.

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.