Q32 Bio (NASDAQ:QTTB) Stock Price Up 5% – Here’s What Happened

Shares of Q32 Bio Inc. (NASDAQ:QTTB) traded up 5% on Friday . The company traded as high as $50.00 and last traded at $50.00. 11,712 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 66,612 shares. The stock had previously closed at $47.62.

Analysts Set New Price Targets

QTTB has been the subject of a number of recent analyst reports. Raymond James assumed coverage on Q32 Bio in a report on Thursday. They issued a “strong-buy” rating and a $90.00 price objective for the company. Wells Fargo & Company started coverage on shares of Q32 Bio in a report on Wednesday, September 11th. They set an “overweight” rating and a $95.00 price objective on the stock. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $72.33.

Q32 Bio Price Performance

The company has a 50 day moving average price of $44.42 and a 200 day moving average price of $32.62. The company has a market capitalization of $609.16 million, a P/E ratio of -1.59 and a beta of -0.32. The company has a current ratio of 6.49, a quick ratio of 6.49 and a debt-to-equity ratio of 0.37.

Q32 Bio (NASDAQ:QTTB) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($1.42) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.42). On average, equities analysts predict that Q32 Bio Inc. will post -11.76 EPS for the current fiscal year.

Institutional Investors Weigh In On Q32 Bio

Institutional investors and hedge funds have recently bought and sold shares of the company. Carlyle Group Inc. bought a new position in shares of Q32 Bio during the first quarter valued at $18,074,000. Atlas Venture Life Science Advisors LLC acquired a new position in Q32 Bio during the 1st quarter worth about $35,649,000. Vanguard Group Inc. bought a new stake in shares of Q32 Bio in the 1st quarter valued at about $1,836,000. Acadian Asset Management LLC acquired a new stake in shares of Q32 Bio in the first quarter valued at about $62,000. Finally, Platinum Investment Management Ltd. bought a new position in shares of Q32 Bio during the first quarter worth about $1,874,000. Institutional investors own 31.32% of the company’s stock.

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.