Wall Street Zen Upgrades Q32 Bio (NASDAQ:QTTB) to “Hold”

Q32 Bio (NASDAQ:QTTB) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Friday.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Q32 Bio in a research report on Saturday, September 27th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $12.17.

Q32 Bio Stock Performance

Shares of Q32 Bio stock opened at $2.07 on Friday. Q32 Bio has a 52-week low of $1.35 and a 52-week high of $53.17. The stock has a market capitalization of $25.25 million, a price-to-earnings ratio of -0.48 and a beta of 0.11. The company has a fifty day moving average of $1.87 and a 200-day moving average of $1.82.

Q32 Bio (NASDAQ:QTTB) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.78) earnings per share for the quarter, beating the consensus estimate of ($1.14) by $0.36. On average, equities research analysts forecast that Q32 Bio will post -12.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Jane Street Group LLC bought a new position in shares of Q32 Bio in the 2nd quarter worth about $69,000. Marshall Wace LLP bought a new position in shares of Q32 Bio in the 2nd quarter worth about $25,000. Monaco Asset Management SAM increased its stake in shares of Q32 Bio by 17.1% in the 2nd quarter. Monaco Asset Management SAM now owns 591,937 shares of the company’s stock worth $882,000 after acquiring an additional 86,486 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Q32 Bio by 140.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 44,373 shares of the company’s stock worth $73,000 after acquiring an additional 25,953 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in Q32 Bio during the 1st quarter valued at about $50,000. 31.32% of the stock is currently 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.