Q32 Bio (NASDAQ:QTTB) Issues Quarterly Earnings Results

Q32 Bio (NASDAQ:QTTB) posted its quarterly earnings data on Tuesday. The company reported ($1.16) EPS for the quarter, topping the consensus estimate of ($1.25) by $0.09, Zacks reports.

Q32 Bio Price Performance

Shares of QTTB traded up $0.09 during mid-day trading on Wednesday, hitting $1.99. 19,764 shares of the stock were exchanged, compared to its average volume of 173,959. The firm has a 50-day moving average of $2.93 and a two-hundred day moving average of $23.59. Q32 Bio has a 52-week low of $1.86 and a 52-week high of $53.79. The company has a debt-to-equity ratio of 0.61, a quick ratio of 6.53 and a current ratio of 6.53. The company has a market cap of $24.18 million, a PE ratio of -0.14 and a beta of -0.27.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Leerink Partners reiterated a “market perform” rating and issued a $9.00 price target (down previously from $68.00) on shares of Q32 Bio in a research note on Wednesday, December 11th. Leerink Partnrs cut shares of Q32 Bio from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $16.00 price objective (down from $95.00) on shares of Q32 Bio in a research report on Wednesday, December 11th. BMO Capital Markets downgraded shares of Q32 Bio from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $22.00 to $3.00 in a report on Tuesday, February 11th. Finally, Piper Sandler cut shares of Q32 Bio from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $20.00 to $4.00 in a research note on Tuesday, February 11th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Q32 Bio currently has a consensus rating of “Hold” and a consensus price target of $24.86.

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.