Q32 Bio (NASDAQ:QTTB) Receives New Coverage from Analysts at Raymond James

Equities research analysts at Raymond James began coverage on shares of Q32 Bio (NASDAQ:QTTB) in a report released on Thursday, Briefing.com reports. The firm set a “strong-buy” rating and a $90.00 price target on the stock. Raymond James’ target price suggests a potential upside of 88.36% from the stock’s current price.

Separately, Wells Fargo & Company began coverage on shares of Q32 Bio in a report on Wednesday, September 11th. They issued an “overweight” rating and a $95.00 target price on the stock. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $72.33.

Q32 Bio Stock Performance

Shares of NASDAQ QTTB opened at $47.78 on Thursday. Q32 Bio has a 1 year low of $8.24 and a 1 year high of $53.79. The company has a debt-to-equity ratio of 0.37, a quick ratio of 6.49 and a current ratio of 6.49. The stock has a fifty day moving average price of $44.20 and a two-hundred day moving average price of $32.52. The firm has a market cap of $570.59 million, a P/E ratio of -1.47 and a beta of -0.32.

Q32 Bio (NASDAQ:QTTB) last released its earnings results on Thursday, August 8th. The company reported ($1.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.42). Research analysts forecast that Q32 Bio will post -11.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Values First Advisors Inc. purchased a new stake in shares of Q32 Bio in the 3rd quarter valued at approximately $33,000. Ensign Peak Advisors Inc lifted its holdings in shares of Q32 Bio by 150.6% in the second quarter. Ensign Peak Advisors Inc now owns 64,481 shares of the company’s stock valued at $1,157,000 after purchasing an additional 38,750 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Q32 Bio in the second quarter worth $265,000. Harvard Management Co. Inc. purchased a new position in shares of Q32 Bio during the second quarter valued at $2,925,000. Finally, Rhumbline Advisers raised its position in Q32 Bio by 11,681.5% during the second quarter. Rhumbline Advisers now owns 7,658 shares of the company’s stock valued at $137,000 after buying an additional 7,593 shares during the period. 31.32% of the stock is owned by hedge funds and other institutional investors.

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.