Q32 Bio Inc. (NASDAQ:QTTB) Receives Consensus Rating of “Buy” from Analysts

Q32 Bio Inc. (NASDAQ:QTTB) has been assigned an average rating of “Buy” from the seven analysts that are currently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $72.33.

QTTB has been the subject of a number of analyst reports. Wells Fargo & Company initiated 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. Raymond James initiated coverage on Q32 Bio in a research report on Thursday, October 24th. They set a “strong-buy” rating and a $90.00 target price for the company.

Q32 Bio Price Performance

QTTB opened at $24.55 on Monday. The company has a fifty day moving average price of $43.94 and a two-hundred day moving average price of $34.99. The firm has a market capitalization of $299.04 million, a PE ratio of -1.72 and a beta of -0.32. Q32 Bio has a 52 week low of $9.18 and a 52 week high of $53.79. The company has a debt-to-equity ratio of 0.61, a quick ratio of 6.53 and a current ratio of 6.53.

Institutional Investors Weigh In On Q32 Bio

A number of hedge funds have recently modified their holdings of QTTB. FMR LLC raised its holdings in Q32 Bio by 137.3% during the 3rd quarter. FMR LLC now owns 426,302 shares of the company’s stock worth $19,022,000 after buying an additional 246,664 shares during the period. Eventide Asset Management LLC bought a new stake in shares of Q32 Bio during the third quarter worth $8,478,000. Harvard Management Co. Inc. acquired a new stake in shares of Q32 Bio during the second quarter worth $2,925,000. Geode Capital Management LLC lifted its position in Q32 Bio by 22.4% in the 3rd quarter. Geode Capital Management LLC now owns 131,768 shares of the company’s stock valued at $5,881,000 after acquiring an additional 24,114 shares in the last quarter. Finally, State Street Corp increased its holdings in Q32 Bio by 35.5% during the 3rd quarter. State Street Corp now owns 110,164 shares of the company’s stock worth $4,916,000 after purchasing an additional 28,865 shares in the last quarter. 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.