Q32 Bio (NASDAQ:QTTB) CEO Jodie Pope Morrison Sells 9,845 Shares

Q32 Bio Inc. (NASDAQ:QTTB) CEO Jodie Pope Morrison sold 9,845 shares of Q32 Bio stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $16.56, for a total value of $163,033.20. Following the completion of the transaction, the chief executive officer owned 343,259 shares in the company, valued at $5,684,369.04. This trade represents a 2.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Q32 Bio Stock Performance

Shares of Q32 Bio stock opened at $16.15 on Friday. The company has a market capitalization of $480.79 million, a PE ratio of 5.38 and a beta of 0.23. The company has a 50-day simple moving average of $14.84 and a two-hundred day simple moving average of $9.67. Q32 Bio Inc. has a one year low of $1.62 and a one year high of $23.57.

Q32 Bio (NASDAQ:QTTB) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.02. On average, equities analysts predict that Q32 Bio Inc. will post -1.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on QTTB. Morgan Stanley assumed coverage on shares of Q32 Bio in a research note on Monday. They issued an “overweight” rating and a $34.00 target price for the company. Cantor Fitzgerald initiated coverage on Q32 Bio in a report on Monday, May 18th. They set an “overweight” rating for the company. Weiss Ratings upgraded Q32 Bio from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 21st. Oppenheimer raised their price objective on Q32 Bio from $20.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. Finally, HC Wainwright boosted their target price on Q32 Bio from $13.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $31.00.

Institutional Trading of Q32 Bio

Institutional investors have recently bought and sold shares of the stock. Atlas Venture Life Science Advisors LLC increased its stake in Q32 Bio by 29.9% during the 2nd quarter. Atlas Venture Life Science Advisors LLC now owns 2,717,106 shares of the company’s stock valued at $34,616,000 after purchasing an additional 625,000 shares in the last quarter. Susquehanna International Group LLP acquired a new stake in shares of Q32 Bio during the second quarter worth $297,000. Carlyle Group Inc. acquired a new stake in shares of Q32 Bio during the second quarter worth $769,000. BlackRock Inc. purchased a new stake in shares of Q32 Bio during the second quarter valued at $1,510,000. Finally, ADAR1 Capital Management LLC grew its holdings in shares of Q32 Bio by 75.0% during the first quarter. ADAR1 Capital Management LLC now owns 35,000 shares of the company’s stock valued at $225,000 after buying an additional 15,000 shares during the last quarter. 31.32% of the stock is currently 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.