Short Interest in Q32 Bio Inc. (NASDAQ:QTTB) Grows By 31.3%

Q32 Bio Inc. (NASDAQ:QTTB) was the recipient of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 1,470,000 shares, a growth of 31.3% from the December 15th total of 1,120,000 shares. Based on an average trading volume of 334,600 shares, the short-interest ratio is currently 4.4 days. Approximately 31.8% of the company’s shares are sold short.

Q32 Bio Stock Up 4.5 %

Shares of QTTB stock traded up $0.14 during trading hours on Friday, reaching $3.28. The company had a trading volume of 173,275 shares, compared to its average volume of 526,346. The company has a market cap of $39.95 million, a price-to-earnings ratio of -0.23 and a beta of -0.30. 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 has a 12 month low of $2.99 and a 12 month high of $53.79. The business has a fifty day simple moving average of $14.76 and a 200-day simple moving average of $31.17.

Hedge Funds Weigh In On Q32 Bio

Large investors have recently bought and sold shares of the stock. Values First Advisors Inc. purchased a new stake in shares of Q32 Bio in the third quarter valued at about $33,000. BNP Paribas Financial Markets increased its stake 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 last quarter. Rhumbline Advisers lifted its position in shares of Q32 Bio by 11,681.5% during the 2nd quarter. Rhumbline Advisers now owns 7,658 shares of the company’s stock worth $137,000 after buying an additional 7,593 shares in the last quarter. MetLife Investment Management LLC purchased a new position in shares of Q32 Bio in the 3rd quarter worth approximately $159,000. Finally, Franklin Resources Inc. bought a new position in shares of Q32 Bio in the third quarter valued at approximately $225,000. 31.32% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

QTTB has been the topic of several analyst reports. Oppenheimer reduced their target price on Q32 Bio from $80.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th. Piper Sandler reduced their price target on shares of Q32 Bio from $85.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, December 11th. Leerink Partnrs cut shares of Q32 Bio from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $16.00 target price (down from $95.00) on shares of Q32 Bio in a research report on Wednesday, December 11th. Finally, Raymond James restated an “outperform” rating and set a $22.00 price objective (down previously from $90.00) on shares of Q32 Bio in a report on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.86.

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.