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

Shares of Q32 Bio Inc. (NASDAQ:QTTB) have received an average recommendation of “Buy” from the six research firms that are currently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $68.80.

A number of research firms have weighed in on QTTB. Wells Fargo & Company began coverage on Q32 Bio in a research note on Wednesday, September 11th. They set an “overweight” rating and a $95.00 price objective for the company. Guggenheim began coverage on Q32 Bio in a research note on Monday, June 17th. They set a “buy” rating and a $100.00 price objective for the company.

Hedge Funds Weigh In On Q32 Bio

Several institutional investors and hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC purchased a new position in shares of Q32 Bio in the 1st quarter valued at about $62,000. Rhumbline Advisers increased its stake in shares of Q32 Bio by 11,681.5% in the 2nd quarter. Rhumbline Advisers now owns 7,658 shares of the company’s stock valued at $137,000 after purchasing an additional 7,593 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Q32 Bio in the 2nd quarter valued at about $265,000. Bank of New York Mellon Corp purchased a new position in shares of Q32 Bio in the 2nd quarter valued at about $315,000. Finally, Ikarian Capital LLC purchased a new position in shares of Q32 Bio in the 1st quarter valued at about $381,000. Hedge funds and other institutional investors own 31.32% of the company’s stock.

Q32 Bio Stock Performance

Shares of QTTB opened at $44.75 on Friday. The stock’s 50-day moving average price is $41.44. Q32 Bio has a one year low of $8.24 and a one year high of $53.79. The company has a current ratio of 6.49, a quick ratio of 6.49 and a debt-to-equity ratio of 0.37. The firm has a market cap of $534.40 million, a PE ratio of -1.37 and a beta of -0.32.

Q32 Bio (NASDAQ:QTTB) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($1.42) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.42). Analysts predict that Q32 Bio will post -11.76 EPS for the current fiscal 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.