Q32 Bio Inc. (NASDAQ:QTTB) Short Interest Update

Q32 Bio Inc. (NASDAQ:QTTB) saw a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 1,030,000 shares, a drop of 21.4% from the February 13th total of 1,310,000 shares. Currently, 23.4% of the shares of the company are short sold. Based on an average daily volume of 411,900 shares, the short-interest ratio is presently 2.5 days.

Q32 Bio Price Performance

Q32 Bio stock traded down $0.05 during midday trading on Tuesday, reaching $2.14. The company had a trading volume of 163,254 shares, compared to its average volume of 174,536. The company has a market capitalization of $26.10 million, a P/E ratio of -0.15 and a beta of -0.27. Q32 Bio has a 12-month low of $1.80 and a 12-month high of $53.79. The firm’s fifty day simple moving average is $2.80 and its 200-day simple moving average is $22.56. The company has a debt-to-equity ratio of 0.61, a current ratio of 6.53 and a quick ratio of 6.53.

Q32 Bio (NASDAQ:QTTB) last issued its quarterly earnings results on Tuesday, March 11th. The company reported ($1.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.25) by $0.09. As a group, equities analysts anticipate that Q32 Bio will post -12.32 EPS for the current year.

Analysts Set New Price Targets

QTTB has been the topic of several analyst reports. Wells Fargo & Company cut their price target on Q32 Bio from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 12th. Leerink Partnrs lowered shares of Q32 Bio from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Oppenheimer lowered their target price on shares of Q32 Bio from $80.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 11th. Guggenheim lowered shares of Q32 Bio from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 11th. Finally, Piper Sandler lowered shares of Q32 Bio from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $20.00 to $4.00 in a research note on Tuesday, February 11th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $24.71.

Institutional Trading of Q32 Bio

A number of hedge funds have recently bought and sold shares of QTTB. BNP Paribas Financial Markets boosted its position in Q32 Bio by 199.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,298 shares of the company’s stock valued at $58,000 after buying an additional 864 shares during the period. MetLife Investment Management LLC purchased a new position in Q32 Bio in the 3rd quarter valued at approximately $159,000. Franklin Resources Inc. purchased a new position in Q32 Bio in the 3rd quarter valued at approximately $225,000. Barclays PLC boosted its position in Q32 Bio by 105.2% in the 3rd quarter. Barclays PLC now owns 10,443 shares of the company’s stock valued at $465,000 after buying an additional 5,353 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in Q32 Bio in the 4th quarter valued at approximately $26,000. Institutional investors and hedge funds 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.