Q32 Bio (NASDAQ:QTTB) Issues Quarterly Earnings Results

Q32 Bio (NASDAQ:QTTB) announced its quarterly earnings data on Thursday. The company reported ($0.60) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.39) by $0.79, FiscalAI reports.

Q32 Bio Trading Down 9.1%

NASDAQ:QTTB opened at $2.21 on Friday. The company has a 50-day moving average price of $2.44 and a 200-day moving average price of $2.03. The stock has a market cap of $26.96 million, a price-to-earnings ratio of -0.51 and a beta of 0.15. Q32 Bio has a 12 month low of $1.35 and a 12 month high of $40.37.

Institutional Trading of Q32 Bio

Several large investors have recently bought and sold shares of QTTB. Jane Street Group LLC bought a new position in shares of Q32 Bio in the 2nd quarter worth approximately $69,000. Goldman Sachs Group Inc. raised its holdings in Q32 Bio by 140.9% in the first quarter. Goldman Sachs Group Inc. now owns 44,373 shares of the company’s stock worth $73,000 after purchasing an additional 25,953 shares in the last quarter. AQR Capital Management LLC purchased a new position in Q32 Bio during the first quarter valued at $68,000. Acadian Asset Management LLC bought a new stake in shares of Q32 Bio during the 1st quarter valued at $50,000. Finally, Marshall Wace LLP purchased a new stake in shares of Q32 Bio in the 2nd quarter worth about $25,000. 31.32% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on QTTB. Wall Street Zen upgraded Q32 Bio from a “sell” rating to a “hold” rating in a research report on Sunday, October 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Q32 Bio in a research note on Tuesday, October 14th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Q32 Bio currently has a consensus rating of “Hold” and an average price target of $12.17.

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.