Franklin Resources Inc. Invests $225,000 in Q32 Bio Inc. (NASDAQ:QTTB)

Franklin Resources Inc. purchased a new stake in Q32 Bio Inc. (NASDAQ:QTTB) in the third quarter, Holdings Channel reports. The firm purchased 4,857 shares of the company’s stock, valued at approximately $225,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of QTTB. FMR LLC lifted its holdings in shares of Q32 Bio by 137.3% in 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 purchased a new stake in Q32 Bio in the third quarter worth about $8,478,000. Harvard Management Co. Inc. bought a new position in Q32 Bio during the 2nd quarter worth about $2,925,000. Geode Capital Management LLC increased its position in Q32 Bio by 22.4% during the 3rd quarter. Geode Capital Management LLC now owns 131,768 shares of the company’s stock valued at $5,881,000 after purchasing an additional 24,114 shares during the period. Finally, State Street Corp raised its holdings in shares of Q32 Bio by 35.5% in the 3rd quarter. State Street Corp now owns 110,164 shares of the company’s stock valued at $4,916,000 after purchasing an additional 28,865 shares in the last quarter. Institutional investors own 31.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on QTTB shares. Wells Fargo & Company reiterated an “equal weight” rating and set a $16.00 price objective (down from $95.00) on shares of Q32 Bio in a research note on Wednesday, December 11th. Piper Sandler cut their price target on Q32 Bio from $85.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday, December 11th. BMO Capital Markets decreased their price objective on Q32 Bio from $64.00 to $22.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Oppenheimer cut their target price on Q32 Bio from $80.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 11th. Finally, Leerink Partners reissued a “market perform” rating and set a $9.00 price target (down from $68.00) on shares of Q32 Bio in a research report on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Q32 Bio has a consensus rating of “Moderate Buy” and an average price target of $29.86.

Q32 Bio Trading Up 10.6 %

Q32 Bio stock opened at $3.44 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 6.53 and a current ratio of 6.53. The stock has a market cap of $41.90 million, a PE ratio of -0.24 and a beta of -0.46. The stock has a 50-day moving average of $25.33 and a two-hundred day moving average of $32.40. Q32 Bio Inc. has a one year low of $3.02 and a one year high of $53.79.

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.