Analysts Set Q32 Bio Inc. (NASDAQ:QTTB) PT at $24.86

Q32 Bio Inc. (NASDAQ:QTTB) has been assigned a consensus recommendation of “Hold” from the eight research firms that are covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $24.86.

Several equities analysts have recently weighed in on the company. Raymond James reaffirmed an “outperform” rating and issued a $22.00 price objective (down from $90.00) on shares of Q32 Bio in a research note on Wednesday, December 11th. Oppenheimer reduced their price objective on Q32 Bio from $80.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 11th. Leerink Partnrs lowered Q32 Bio from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Piper Sandler lowered Q32 Bio from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $20.00 to $4.00 in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $16.00 price objective (down from $95.00) on shares of Q32 Bio in a research note on Wednesday, December 11th.

Q32 Bio Stock Down 7.8 %

QTTB opened at $1.90 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 6.53 and a quick ratio of 6.53. The stock has a market capitalization of $23.14 million, a price-to-earnings ratio of -0.13 and a beta of -0.27. The business has a 50-day moving average of $2.93 and a two-hundred day moving average of $23.59. Q32 Bio has a 12 month low of $1.89 and a 12 month high of $53.79.

Q32 Bio (NASDAQ:QTTB) last posted its quarterly earnings results on Tuesday, March 11th. The company reported ($1.16) EPS for the quarter, beating the consensus estimate of ($1.25) by $0.09. On average, research analysts expect that Q32 Bio will post -12.32 earnings per share for the current year.

Hedge Funds Weigh In On Q32 Bio

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Acorn Capital Advisors LLC purchased a new position in shares of Q32 Bio during the 4th quarter valued at approximately $2,764,000. Monaco Asset Management SAM purchased a new position in shares of Q32 Bio during the 4th quarter valued at approximately $1,977,000. FMR LLC boosted its stake in shares of Q32 Bio by 137.3% during the 3rd quarter. FMR LLC now owns 426,302 shares of the company’s stock valued at $19,022,000 after buying an additional 246,664 shares during the last quarter. Sanofi purchased a new position in shares of Q32 Bio during the 4th quarter valued at approximately $840,000. Finally, Eventide Asset Management LLC purchased a new position in shares of Q32 Bio during the 3rd quarter valued at approximately $8,478,000. 31.32% of the stock is owned by institutional investors and hedge funds.

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.