Q32 Bio (NASDAQ:QTTB) Coverage Initiated by Analysts at BMO Capital Markets

BMO Capital Markets initiated coverage on shares of Q32 Bio (NASDAQ:QTTB) in a report issued on Friday morning, Marketbeat reports. The brokerage issued an outperform rating and a $64.00 target price on the stock.

Other research analysts have also recently issued research reports about the stock. Raymond James started coverage on shares of Q32 Bio in a research report on Thursday, October 24th. They issued a “strong-buy” rating and a $90.00 target price on the stock. Wells Fargo & Company assumed coverage on shares of Q32 Bio in a report on Wednesday, September 11th. They issued an “overweight” rating and a $95.00 price objective on the stock. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Q32 Bio currently has an average rating of “Buy” and an average target price of $71.14.

Q32 Bio Price Performance

QTTB stock opened at $25.92 on Friday. Q32 Bio has a 52-week low of $9.54 and a 52-week high of $53.79. The business has a fifty day moving average of $39.89 and a two-hundred day moving average of $34.75. The stock has a market cap of $315.71 million, a price-to-earnings ratio of -1.82 and a beta of -0.46. The company has a quick ratio of 6.53, a current ratio of 6.53 and a debt-to-equity ratio of 0.61.

Institutional Trading of Q32 Bio

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. purchased a new stake in Q32 Bio during the 1st quarter worth approximately $1,836,000. Bank of New York Mellon Corp acquired a new stake in shares of Q32 Bio in the second quarter valued at $315,000. Rhumbline Advisers boosted its holdings in Q32 Bio by 11,681.5% in the second quarter. Rhumbline Advisers now owns 7,658 shares of the company’s stock valued at $137,000 after purchasing an additional 7,593 shares during the period. Harvard Management Co. Inc. acquired a new position in Q32 Bio during the 2nd quarter worth $2,925,000. Finally, Renaissance Technologies LLC purchased a new stake in Q32 Bio during the 2nd quarter worth about $265,000. Institutional investors and hedge funds own 31.32% of the company’s stock.

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.