Q32 Bio Inc. (NASDAQ:QTTB) Given Consensus Recommendation of “Hold” by Brokerages

Q32 Bio Inc. (NASDAQ:QTTB) has been assigned a consensus rating of “Hold” from the eight research firms that are presently covering the company, MarketBeat reports. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $12.17.

QTTB has been the topic of several recent analyst reports. Wall Street Zen raised Q32 Bio from a “sell” rating to a “hold” rating in a research report on Friday, June 27th. Wells Fargo & Company dropped their target price on Q32 Bio from $16.00 to $15.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 12th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of QTTB. Rhumbline Advisers lifted its holdings in shares of Q32 Bio by 1,164.3% during the 4th quarter. Rhumbline Advisers now owns 105,544 shares of the company’s stock valued at $363,000 after buying an additional 97,196 shares during the last quarter. Raymond James Financial Inc. bought a new position in Q32 Bio during the fourth quarter valued at approximately $37,000. Monaco Asset Management SAM acquired a new stake in Q32 Bio in the fourth quarter valued at approximately $1,977,000. AXQ Capital LP acquired a new stake in Q32 Bio in the fourth quarter valued at approximately $36,000. Finally, Townsquare Capital LLC bought a new stake in Q32 Bio in the fourth quarter worth approximately $60,000. 31.32% of the stock is owned by institutional investors and hedge funds.

Q32 Bio Price Performance

QTTB stock opened at $1.44 on Friday. The company has a debt-to-equity ratio of 1.68, a current ratio of 4.71 and a quick ratio of 4.71. The firm has a market capitalization of $17.57 million, a P/E ratio of -0.29 and a beta of -0.07. Q32 Bio has a 52-week low of $1.38 and a 52-week high of $53.79. The company’s 50 day simple moving average is $1.67 and its 200-day simple moving average is $2.29.

Q32 Bio (NASDAQ:QTTB) last announced its earnings results on Thursday, May 8th. The company reported ($0.90) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.23) by $0.33. As a group, equities research analysts anticipate that Q32 Bio will post -12.32 EPS for the current year.

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.