Q32 Bio Inc. (NASDAQ:QTTB) Stock Rated “Moderate Buy” by Wall Street Analysts

Shares of Q32 Bio Inc. (NASDAQ:QTTB) have been given a consensus rating of “Moderate Buy” by the eight brokerages that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $30.60.

Several equities research analysts recently issued reports on QTTB shares. Cantor Fitzgerald restated an “overweight” rating on shares of Q32 Bio in a report on Wednesday, September 16th. HC Wainwright boosted their target price on shares of Q32 Bio from $13.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Jefferies Financial Group initiated coverage on Q32 Bio in a report on Monday. They set a “buy” rating and a $29.00 price target on the stock. Mizuho upgraded Q32 Bio to a “strong-buy” rating in a research note on Monday, September 7th. Finally, Morgan Stanley assumed coverage on Q32 Bio in a report on Monday, August 24th. They issued an “overweight” rating and a $34.00 price objective for the company.

Q32 Bio Stock Up 3.3%

Shares of NASDAQ QTTB opened at $9.53 on Friday. The firm’s 50-day moving average price is $13.68 and its 200-day moving average price is $10.77. The company has a market cap of $283.71 million, a PE ratio of 3.18 and a beta of 0.21. Q32 Bio has a 52-week low of $1.90 and a 52-week high of $23.57.

Q32 Bio (NASDAQ:QTTB) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.02. As a group, equities research analysts anticipate that Q32 Bio will post -1.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other Q32 Bio news, CFO Lee Kalowski sold 3,972 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $16.56, for a total value of $65,776.32. Following the transaction, the chief financial officer directly owned 138,471 shares of the company’s stock, valued at approximately $2,293,079.76. This trade represents a 2.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Shelia Violette sold 2,798 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $16.56, for a total value of $46,334.88. Following the sale, the insider owned 127,771 shares of the company’s stock, valued at approximately $2,115,887.76. This represents a 2.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 16,615 shares of company stock valued at $275,144. Insiders own 34.46% of the company’s stock.

Institutional Trading of Q32 Bio

Several large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC increased its holdings in Q32 Bio by 107.7% during the first quarter. Renaissance Technologies LLC now owns 206,915 shares of the company’s stock valued at $1,328,000 after buying an additional 107,315 shares during the last quarter. BlackRock Inc. purchased a new position in shares of Q32 Bio during the 2nd quarter worth $1,510,000. Atlas Venture Life Science Advisors LLC boosted its stake in shares of 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 worth $34,616,000 after acquiring an additional 625,000 shares during the last quarter. Carlyle Group Inc. bought a new stake in shares of Q32 Bio during the 2nd quarter valued at $769,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Q32 Bio during the 2nd quarter valued at $303,000. 31.32% of the stock is currently owned by institutional investors.

About Q32 Bio

Q32 Bio Inc is a clinical-stage biotechnology company focused on developing therapies for diseases associated with immune dysregulation. The company’s research is aimed at restoring balance in the immune system by targeting biological pathways involved in inflammation, tissue repair and immune regulation.

Q32 Bio’s lead product candidate is bempikibart, also known as ADX-914, a fully human monoclonal antibody designed to inhibit activin A signaling through the activin receptor type IIB pathway.