Wells Fargo & Company Issues Pessimistic Forecast for Q32 Bio (NASDAQ:QTTB) Stock Price

Q32 Bio (NASDAQ:QTTB) had its target price reduced by Wells Fargo & Company from $16.00 to $15.00 in a research report report published on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other research analysts have also recently commented on the stock. Leerink Partnrs cut shares of Q32 Bio from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Raymond James reissued an “outperform” rating and set a $22.00 target price (down from $90.00) on shares of Q32 Bio in a research note on Wednesday, December 11th. Leerink Partners restated a “market perform” rating and set a $9.00 price target (down previously from $68.00) on shares of Q32 Bio in a report on Wednesday, December 11th. Piper Sandler lowered shares of Q32 Bio from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $20.00 to $4.00 in a research note on Tuesday, February 11th. Finally, Guggenheim lowered shares of Q32 Bio from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 11th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $24.71.

Q32 Bio Stock Up 8.7 %

Shares of QTTB opened at $2.00 on Wednesday. The firm has a market cap of $24.36 million, a PE ratio of -0.14 and a beta of -0.27. The company’s fifty day moving average is $2.82 and its two-hundred day moving average is $23.03. Q32 Bio has a fifty-two week low of $1.80 and a fifty-two week high of $53.79. The company has a quick ratio of 6.53, a current ratio of 6.53 and a debt-to-equity ratio of 0.61.

Q32 Bio (NASDAQ:QTTB) last issued its quarterly earnings data on Tuesday, March 11th. The company reported ($1.16) EPS for the quarter, topping analysts’ consensus estimates of ($1.25) by $0.09. Analysts forecast that Q32 Bio will post -12.32 earnings per share for the current year.

Institutional Trading of Q32 Bio

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio acquired a new position in shares of Q32 Bio in the fourth quarter valued at about $26,000. Squarepoint Ops LLC acquired a new stake in shares of Q32 Bio in the 4th quarter valued at approximately $65,000. Two Sigma Investments LP bought a new position in Q32 Bio in the 4th quarter valued at approximately $183,000. Trustees of Columbia University in the City of New York bought a new position in Q32 Bio in the 4th quarter valued at approximately $461,000. Finally, Sanofi bought a new position in Q32 Bio during the 4th quarter worth approximately $840,000. 31.32% of the stock is owned by institutional investors.

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.