Analysts Set Q32 Bio Inc. (NASDAQ:QTTB) Price Target at $29.86

Shares of Q32 Bio Inc. (NASDAQ:QTTB) have earned an average rating of “Moderate Buy” from the eight research firms that are currently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $29.86.

QTTB has been the subject of several recent research reports. Piper Sandler decreased their price objective on Q32 Bio from $85.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, December 11th. Oppenheimer dropped their price objective on shares of Q32 Bio from $80.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 11th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $16.00 price objective (down from $95.00) on shares of Q32 Bio in a research report on Wednesday, December 11th. Guggenheim lowered Q32 Bio from a “buy” rating to a “neutral” rating in a report on Wednesday, December 11th. Finally, Leerink Partnrs downgraded Q32 Bio from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th.

Q32 Bio Stock Up 4.5 %

Shares of NASDAQ QTTB opened at $3.28 on Tuesday. Q32 Bio has a 12-month low of $2.99 and a 12-month high of $53.79. The stock has a market cap of $39.95 million, a P/E ratio of -0.23 and a beta of -0.30. The company has a current ratio of 6.53, a quick ratio of 6.53 and a debt-to-equity ratio of 0.61. The business’s fifty day simple moving average is $14.76 and its 200-day simple moving average is $31.36.

Hedge Funds Weigh In On Q32 Bio

Hedge funds have recently made changes to their positions in the company. FMR LLC boosted its position in shares of Q32 Bio by 137.3% in the 3rd quarter. FMR LLC now owns 426,302 shares of the company’s stock valued at $19,022,000 after purchasing an additional 246,664 shares during the period. Eventide Asset Management LLC purchased a new position in shares of Q32 Bio during the third quarter worth approximately $8,478,000. Harvard Management Co. Inc. acquired a new position in shares of Q32 Bio in the 2nd quarter valued at $2,925,000. Geode Capital Management LLC raised 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 purchasing an additional 24,114 shares during the last quarter. Finally, State Street Corp grew its position 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 during the last quarter. Hedge funds and other institutional investors 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.