Q32 Bio (NASDAQ:QTTB) Cut to Neutral at Piper Sandler

Q32 Bio (NASDAQ:QTTB) was downgraded by analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a research note issued to investors on Tuesday,Finviz reports. They currently have a $4.00 price objective on the stock, down from their previous price objective of $20.00. Piper Sandler’s target price points to a potential upside of 25.79% from the company’s previous close.

Several other equities research analysts have also weighed in on the company. Leerink Partnrs lowered Q32 Bio from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. 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, December 11th. Raymond James reissued an “outperform” rating and issued a $22.00 price objective (down previously from $90.00) on shares of Q32 Bio in a report on Wednesday, December 11th. Leerink Partners restated a “market perform” rating and issued a $9.00 target price (down previously from $68.00) on shares of Q32 Bio in a research note on Wednesday, December 11th. Finally, BMO Capital Markets cut their target price on Q32 Bio from $64.00 to $22.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $27.57.

Q32 Bio Trading Up 1.0 %

Shares of Q32 Bio stock opened at $3.18 on Tuesday. Q32 Bio has a 1 year low of $2.90 and a 1 year high of $53.79. The firm has a market cap of $38.73 million, a PE ratio of -0.22 and a beta of -0.32. The stock has a fifty day moving average price of $6.39 and a 200-day moving average price of $29.02. The company has a debt-to-equity ratio of 0.61, a current ratio of 6.53 and a quick ratio of 6.53.

Institutional Trading of Q32 Bio

A number of large investors have recently modified their holdings of the business. Monaco Asset Management SAM bought a new stake in shares of Q32 Bio during the 4th quarter valued at about $1,977,000. Raymond James Financial Inc. bought a new stake in Q32 Bio in the 4th quarter worth approximately $37,000. Hussman Strategic Advisors Inc. bought a new stake in Q32 Bio in the 4th quarter worth approximately $36,000. Rhumbline Advisers lifted its position in Q32 Bio by 1,164.3% in the 4th quarter. Rhumbline Advisers now owns 105,544 shares of the company’s stock worth $363,000 after buying an additional 97,196 shares during the last quarter. Finally, Savant Capital LLC bought a new stake in Q32 Bio in the 4th quarter worth approximately $53,000. 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.