Q32 Bio (NASDAQ:QTTB) Now Covered by Analysts at HC Wainwright

HC Wainwright began coverage on shares of Q32 Bio (NASDAQ:QTTB) in a research note released on Wednesday, MarketBeat Ratings reports. The firm issued a buy rating and a $13.00 price objective on the stock.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Q32 Bio in a research note on Friday, January 9th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Q32 Bio currently has a consensus rating of “Hold” and an average target price of $14.00.

Q32 Bio Price Performance

Shares of NASDAQ:QTTB opened at $4.73 on Wednesday. The stock has a market cap of $58.18 million, a price-to-earnings ratio of -1.37 and a beta of 0.16. The company has a 50 day moving average of $3.75 and a 200-day moving average of $2.86. Q32 Bio has a one year low of $1.35 and a one year high of $6.37.

Insider Activity at Q32 Bio

In other Q32 Bio news, CEO Jodie Pope Morrison sold 22,506 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $3.46, for a total value of $77,870.76. Following the sale, the chief executive officer owned 99,000 shares in the company, valued at approximately $342,540. The trade was a 18.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Lee Kalowski sold 9,072 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $3.46, for a total transaction of $31,389.12. Following the transaction, the chief financial officer directly owned 39,938 shares of the company’s stock, valued at $138,185.48. This represents a 18.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 40.00% of the company’s stock.

Institutional Investors Weigh In On Q32 Bio

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC bought a new position in shares of Q32 Bio in the 1st quarter valued at about $68,000. Goldman Sachs Group Inc. grew its stake in Q32 Bio by 140.9% in 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 in the last quarter. Acadian Asset Management LLC bought a new position in Q32 Bio in the first quarter valued at approximately $50,000. Monaco Asset Management SAM increased its position in shares of Q32 Bio by 17.1% during the 2nd quarter. Monaco Asset Management SAM now owns 591,937 shares of the company’s stock worth $882,000 after purchasing an additional 86,486 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Q32 Bio during the 2nd quarter worth approximately $25,000. 31.32% of the stock is owned by 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.