Q32 Bio (NASDAQ:QTTB) Given New $22.00 Price Target at BMO Capital Markets

Q32 Bio (NASDAQ:QTTB) had its price target decreased by BMO Capital Markets from $64.00 to $22.00 in a report issued on Thursday,Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

Several other research analysts have also recently issued reports on the company. Wells Fargo & Company reissued an “equal weight” rating and issued a $16.00 price objective (down previously from $95.00) on shares of Q32 Bio in a research note on Wednesday. Guggenheim downgraded Q32 Bio from a “buy” rating to a “neutral” rating in a research report on Wednesday. Oppenheimer decreased their price objective on Q32 Bio from $80.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday. Piper Sandler dropped their target price on shares of Q32 Bio from $85.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Leerink Partners reissued a “market perform” rating and set a $9.00 target price (down previously from $68.00) on shares of Q32 Bio in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $29.86.

Q32 Bio Price Performance

Q32 Bio stock opened at $4.25 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 6.53 and a quick ratio of 6.53. The firm has a 50-day moving average of $37.63 and a two-hundred day moving average of $34.28. Q32 Bio has a 1 year low of $4.17 and a 1 year high of $53.79.

Hedge Funds Weigh In On Q32 Bio

A number of large investors have recently added to or reduced their stakes in QTTB. Vanguard Group Inc. bought a new stake in shares of Q32 Bio in the 1st quarter valued at about $1,836,000. Bank of New York Mellon Corp purchased a new position in Q32 Bio in the second quarter worth $315,000. Rhumbline Advisers increased its position in shares of Q32 Bio by 11,681.5% during the second quarter. Rhumbline Advisers now owns 7,658 shares of the company’s stock worth $137,000 after purchasing an additional 7,593 shares in the last quarter. Harvard Management Co. Inc. purchased a new stake in shares of Q32 Bio during the 2nd quarter valued at $2,925,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Q32 Bio in the 2nd quarter worth $265,000. 31.32% of the stock is currently owned by institutional investors.

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.