Q32 Bio Inc. (NASDAQ:QTTB) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Q32 Bio Inc. (NASDAQ:QTTB) have earned an average rating of “Hold” from the eight brokerages that are covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $24.71.

Several equities analysts recently issued reports on the company. Wells Fargo & Company cut their price target on Q32 Bio from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Wednesday, March 12th. Oppenheimer cut their target price on Q32 Bio from $80.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, December 11th. Raymond James reiterated an “outperform” rating and set a $22.00 price target (down previously from $90.00) on shares of Q32 Bio in a research note on Wednesday, December 11th. BMO Capital Markets cut shares of Q32 Bio from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $22.00 to $3.00 in a research note on Tuesday, February 11th. Finally, Piper Sandler downgraded Q32 Bio from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $20.00 to $4.00 in a report on Tuesday, February 11th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of QTTB. BNP Paribas Financial Markets raised 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 purchasing an additional 864 shares during the last quarter. MetLife Investment Management LLC bought a new position in shares of Q32 Bio in the third quarter valued at about $159,000. Franklin Resources Inc. acquired a new position in Q32 Bio during the 3rd quarter worth about $225,000. Barclays PLC grew its holdings in Q32 Bio by 105.2% during the 3rd quarter. Barclays PLC now owns 10,443 shares of the company’s stock worth $465,000 after acquiring an additional 5,353 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in Q32 Bio in the 4th quarter valued at about $26,000. 31.32% of the stock is owned by institutional investors and hedge funds.

Q32 Bio Trading Down 9.5 %

Shares of QTTB stock opened at $1.71 on Friday. The firm has a market capitalization of $20.86 million, a P/E ratio of -0.12 and a beta of -0.27. Q32 Bio has a 1 year low of $1.70 and a 1 year high of $53.79. The firm’s fifty day simple moving average is $2.58 and its 200 day simple moving average is $20.06. The company has a current ratio of 6.53, a quick ratio of 6.53 and a debt-to-equity ratio of 0.61.

Q32 Bio (NASDAQ:QTTB) last posted its quarterly earnings data on Tuesday, March 11th. The company reported ($1.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.25) by $0.09. As a group, sell-side analysts predict that Q32 Bio will post -12.32 EPS for the current year.

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.