Q32 Bio (NASDAQ:QTTB) Downgraded by Guggenheim to “Neutral”

Guggenheim lowered shares of Q32 Bio (NASDAQ:QTTB) from a buy rating to a neutral rating in a research note released on Wednesday, Marketbeat.com reports.

QTTB has been the subject of several other research reports. Raymond James reissued an “outperform” rating and set a $22.00 price target (down previously from $90.00) on shares of Q32 Bio in a research report on Wednesday. Leerink Partners reissued a “market perform” rating and issued a $9.00 target price (down from $68.00) on shares of Q32 Bio in a research note on Wednesday. Oppenheimer lowered their price target on Q32 Bio from $80.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday. BMO Capital Markets started coverage on Q32 Bio in a research report on Friday, December 6th. They issued an “outperform” rating and a $64.00 price objective on the stock. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $16.00 target price (down previously from $95.00) on shares of Q32 Bio in a report on Wednesday. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.86.

Q32 Bio Stock Performance

NASDAQ:QTTB opened at $3.70 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 6.53 and a current ratio of 6.53. Q32 Bio has a fifty-two week low of $3.67 and a fifty-two week high of $53.79. The firm has a market cap of $45.07 million, a PE ratio of -0.26 and a beta of -0.46. The business has a 50 day moving average price of $36.81 and a 200-day moving average price of $34.13.

Hedge Funds Weigh In On Q32 Bio

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. bought a new stake in Q32 Bio during the third quarter worth about $225,000. Barclays PLC lifted its holdings in shares of Q32 Bio by 105.2% during the third quarter. Barclays PLC now owns 10,443 shares of the company’s stock valued at $465,000 after purchasing an additional 5,353 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Q32 Bio by 22.4% in the 3rd quarter. Geode Capital Management LLC now owns 131,768 shares of the company’s stock worth $5,881,000 after purchasing an additional 24,114 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Q32 Bio in the 3rd quarter worth approximately $733,000. Finally, State Street Corp increased its position in Q32 Bio by 35.5% during the 3rd quarter. State Street Corp now owns 110,164 shares of the company’s stock valued at $4,916,000 after buying an additional 28,865 shares in the last quarter. 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.