Piper Sandler Cuts Q32 Bio (NASDAQ:QTTB) Price Target to $20.00

Q32 Bio (NASDAQ:QTTB) had its target price cut by Piper Sandler from $85.00 to $20.00 in a research report released on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts have also issued reports on QTTB. Wells Fargo & Company started coverage on Q32 Bio in a research report on Wednesday, September 11th. They issued an “overweight” rating and a $95.00 target price on the stock. BMO Capital Markets began coverage on Q32 Bio in a report on Friday, December 6th. They issued an “outperform” rating and a $64.00 price objective on the stock. Finally, Raymond James started coverage on Q32 Bio in a report on Thursday, October 24th. They set a “strong-buy” rating and a $90.00 target price for the company. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.86.

Q32 Bio Price Performance

Shares of QTTB opened at $3.70 on Wednesday. The firm has a 50-day simple moving average of $36.81 and a two-hundred day simple moving average of $34.13. The stock has a market cap of $45.07 million, a PE ratio of -0.26 and a beta of -0.46. Q32 Bio has a 1-year low of $3.67 and a 1-year high of $53.79. The company has a debt-to-equity ratio of 0.61, a current ratio of 6.53 and a quick ratio of 6.53.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Values First Advisors Inc. purchased a new position in shares of Q32 Bio in the 3rd quarter valued at about $33,000. BNP Paribas Financial Markets raised its holdings in Q32 Bio by 199.1% in the third quarter. BNP Paribas Financial Markets now owns 1,298 shares of the company’s stock valued at $58,000 after acquiring an additional 864 shares in the last quarter. MetLife Investment Management LLC purchased a new position in Q32 Bio in the third quarter worth approximately $159,000. Franklin Resources Inc. acquired a new position in Q32 Bio during the 3rd quarter worth approximately $225,000. Finally, Rhumbline Advisers increased its position 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 during the last quarter. 31.32% of the stock is owned by institutional investors and hedge funds.

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.