Bleakley Financial Group LLC Buys Shares of 43,360 Q32 Bio Inc. (NASDAQ:QTTB)

Bleakley Financial Group LLC bought a new stake in Q32 Bio Inc. (NASDAQ:QTTB) in the 4th quarter, Holdings Channel reports. The institutional investor bought 43,360 shares of the company’s stock, valued at approximately $149,000.

Several other institutional investors and hedge funds also recently made changes to their positions in QTTB. FMR LLC boosted its holdings in Q32 Bio by 137.3% in the third quarter. FMR LLC now owns 426,302 shares of the company’s stock valued at $19,022,000 after acquiring an additional 246,664 shares during the last quarter. Eventide Asset Management LLC bought a new position in shares of Q32 Bio during the 3rd quarter worth approximately $8,478,000. Point72 Asset Management L.P. bought a new stake in shares of Q32 Bio in the 3rd quarter valued at $3,422,000. State Street Corp grew its holdings in Q32 Bio by 35.5% in the third 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 period. Finally, Geode Capital Management LLC grew its stake in shares of 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 buying an additional 24,114 shares during the period. Institutional investors and hedge funds own 31.32% of the company’s stock.

Q32 Bio Trading Down 7.6 %

Shares of QTTB opened at $2.66 on Thursday. Q32 Bio Inc. has a 1-year low of $2.59 and a 1-year high of $53.79. The firm’s 50-day moving average price is $5.48 and its 200-day moving average price is $28.53. 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 firm has a market capitalization of $32.40 million, a price-to-earnings ratio of -0.19 and a beta of -0.32.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Leerink Partners restated a “market perform” rating and set a $9.00 price objective (down previously from $68.00) on shares of Q32 Bio in a report on Wednesday, December 11th. Piper Sandler cut 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. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $16.00 price objective (down from $95.00) on shares of Q32 Bio in a research report on Wednesday, December 11th. Raymond James reiterated 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. Finally, Guggenheim lowered Q32 Bio from a “buy” rating to a “neutral” rating in a report on Wednesday, December 11th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $24.86.

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.