Insider Selling: Q32 Bio (NASDAQ:QTTB) CEO Sells $26,798.72 in Stock

Q32 Bio Inc. (NASDAQ:QTTB) CEO Jodie Morrison sold 3,221 shares of the stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $8.32, for a total transaction of $26,798.72. Following the completion of the sale, the chief executive officer owned 340,038 shares in the company, valued at $2,829,116.16. This represents a 0.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Jodie Pope Morrison also recently made the following trade(s):

• On Tuesday, August 25th, Jodie Morrison sold 9,845 shares of Q32 Bio stock. The stock was sold at an average price of $16.56, for a total transaction of $163,033.20.

Q32 Bio Stock Down 3.2%

Q32 Bio stock traded down $0.25 during midday trading on Friday, hitting $7.52. 677,995 shares of the stock were exchanged, compared to its average volume of 1,166,853. The stock has a market capitalization of $223.87 million, a PE ratio of 2.51 and a beta of 0.31. The company has a fifty day simple moving average of $11.75 and a two-hundred day simple moving average of $10.86. Q32 Bio Inc. has a 52 week low of $1.90 and a 52 week high of $23.57.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in QTTB. ADAR1 Capital Management LLC raised 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 worth $225,000 after acquiring an additional 15,000 shares during the period. Cetera Investment Advisers acquired a new position in Q32 Bio in the 1st quarter worth $133,000. Susquehanna International Group LLP acquired a new position in Q32 Bio in the 2nd quarter worth $297,000. Squarepoint Ops LLC bought a new position in Q32 Bio during the 2nd quarter worth about $303,000. Finally, Carlyle Group Inc. bought a new position in Q32 Bio during the 2nd quarter worth about $769,000. Institutional investors and hedge funds own 31.32% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on QTTB. Oppenheimer reaffirmed an “outperform” rating on shares of Q32 Bio in a research note on Thursday, October 1st. Morgan Stanley assumed coverage on Q32 Bio in a research note on Monday, August 24th. They issued an “overweight” rating and a $34.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating on shares of Q32 Bio in a report on Wednesday, September 16th. Jefferies Financial Group initiated coverage on Q32 Bio in a report on Monday, September 28th. They issued a “buy” rating and a $29.00 price target for the company. Finally, Mizuho raised Q32 Bio to a “strong-buy” rating in a research report on Monday, September 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.17.

About Q32 Bio

Q32 Bio is a clinical-stage biotechnology company focused on developing therapies designed to restore immune homeostasis and address diseases driven by immune dysregulation. The company’s approach targets pathways involved in the transforming growth factor beta superfamily, which plays a role in regulating inflammation, tissue repair and immune responses.

Q32 Bio’s lead product candidate is bempikibart, also known as ADX-914, a fully human monoclonal antibody designed to modulate immune activity through selective targeting of the activin receptor type IIA pathway.