Q32 Bio (NASDAQ:QTTB) Given New $36.00 Price Target at HC Wainwright

Q32 Bio (NASDAQ:QTTB) had its target price lifted by analysts at HC Wainwright from $13.00 to $36.00 in a report released on Tuesday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s target price would suggest a potential upside of 136.69% from the stock’s current price.

Several other research analysts also recently issued reports on the company. Weiss Ratings upgraded Q32 Bio from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Zacks Research downgraded Q32 Bio from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Mizuho began coverage on Q32 Bio in a report on Friday, May 22nd. They issued an “outperform” rating and a $14.00 price target for the company. Oppenheimer boosted their price target on Q32 Bio from $20.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Finally, Cantor Fitzgerald assumed coverage on Q32 Bio in a research report on Monday, May 18th. They issued an “overweight” rating on the stock. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $30.00.

Q32 Bio Stock Performance

NASDAQ:QTTB opened at $15.21 on Tuesday. The company has a current ratio of 5.36, a quick ratio of 5.36 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $257.90 million, a P/E ratio of 5.72 and a beta of 0.24. The firm has a 50-day moving average price of $12.52 and a two-hundred day moving average price of $7.74. Q32 Bio has a twelve month low of $1.57 and a twelve month high of $23.57.

Q32 Bio (NASDAQ:QTTB) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.14. As a group, research analysts expect that Q32 Bio will post -1.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Orbimed Advisors Llc bought 1,875,000 shares of the stock in a transaction on Thursday, May 28th. The stock was purchased at an average cost of $8.00 per share, with a total value of $15,000,000.00. Following the purchase, the director owned 3,502,987 shares of the company’s stock, valued at approximately $28,023,896. The trade was a 115.17% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Diyong Xu purchased 1,875,000 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was acquired at an average price of $8.00 per share, with a total value of $15,000,000.00. Following the completion of the acquisition, the director directly owned 3,502,987 shares in the company, valued at $28,023,896. The trade was a 115.17% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 34.46% of the company’s stock.

Institutional Investors Weigh In On Q32 Bio

Several hedge funds have recently made changes to their positions in the business. Marshall Wace LLP purchased a new stake in shares of Q32 Bio in the second quarter valued at $25,000. Acadian Asset Management LLC purchased a new position in Q32 Bio during the first quarter worth about $50,000. Two Sigma Investments LP acquired a new stake in Q32 Bio in the 3rd quarter worth about $62,000. ADAR1 Capital Management LLC acquired a new position in shares of Q32 Bio in the 4th quarter valued at about $66,000. Finally, AQR Capital Management LLC acquired a new position in Q32 Bio during the first quarter valued at approximately $68,000. Institutional investors and hedge funds own 31.32% of the company’s stock.

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.