Monaco Asset Management SAM Invests $1.98 Million in Q32 Bio Inc. (NASDAQ:QTTB)

Monaco Asset Management SAM purchased a new position in shares of Q32 Bio Inc. (NASDAQ:QTTB) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 574,816 shares of the company’s stock, valued at approximately $1,977,000. Monaco Asset Management SAM owned 4.72% of Q32 Bio as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC increased its holdings in shares of Q32 Bio by 137.3% in the 3rd quarter. FMR LLC now owns 426,302 shares of the company’s stock valued at $19,022,000 after purchasing an additional 246,664 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of 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 in the last quarter. MetLife Investment Management LLC purchased a new position in shares of Q32 Bio in the 3rd quarter valued at about $159,000. Eventide Asset Management LLC purchased a new position in shares of Q32 Bio in the 3rd quarter valued at about $8,478,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Q32 Bio in the 3rd quarter valued at about $3,422,000. 31.32% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Leerink Partnrs downgraded shares of Q32 Bio from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Oppenheimer cut their price target 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. Guggenheim downgraded Q32 Bio from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 11th. Raymond James reaffirmed 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. Finally, BMO Capital Markets downgraded Q32 Bio from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $22.00 to $3.00 in a research note on Tuesday, February 11th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Q32 Bio currently has an average rating of “Hold” and an average target price of $24.71.

Q32 Bio Stock Down 3.2 %

Shares of NASDAQ:QTTB opened at $1.84 on Friday. The stock has a 50-day simple moving average of $2.86 and a 200-day simple moving average of $23.29. The stock has a market capitalization of $22.41 million, a P/E ratio of -0.13 and a beta of -0.27. Q32 Bio Inc. has a 1 year low of $1.80 and a 1 year 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.

Q32 Bio (NASDAQ:QTTB) last posted its earnings results on Tuesday, March 11th. The company reported ($1.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.25) by $0.09. Equities analysts forecast that Q32 Bio Inc. will post -12.32 earnings per share for the current year.

Q32 Bio 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.