Q32 Bio Inc. (NASDAQ:QTTB) Receives Consensus Rating of “Hold” from Brokerages

Q32 Bio Inc. (NASDAQ:QTTB) has been given an average rating of “Hold” by the eight analysts that are currently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $24.86.

A number of equities research analysts have recently weighed in on the company. Oppenheimer cut their price target on Q32 Bio from $80.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, December 11th. Leerink Partners reaffirmed a “market perform” rating and set a $9.00 price target (down from $68.00) on shares of Q32 Bio in a research note on Wednesday, December 11th. BMO Capital Markets downgraded Q32 Bio from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $22.00 to $3.00 in a research note on Tuesday, February 11th. Piper Sandler downgraded Q32 Bio from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $20.00 to $4.00 in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $16.00 price objective (down previously from $95.00) on shares of Q32 Bio in a report on Wednesday, December 11th.

Q32 Bio Stock Down 4.7 %

QTTB opened at $2.22 on Wednesday. Q32 Bio has a fifty-two week low of $2.04 and a fifty-two week high of $53.79. The business has a 50-day moving average of $2.98 and a 200-day moving average of $24.11. The company has a debt-to-equity ratio of 0.61, a current ratio of 6.53 and a quick ratio of 6.53. The company has a market capitalization of $27.04 million, a PE ratio of -0.16 and a beta of -0.27.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in QTTB. Public Employees Retirement System of Ohio bought a new position in shares of Q32 Bio in the 4th quarter valued at approximately $26,000. Hussman Strategic Advisors Inc. bought a new position in Q32 Bio in the 4th quarter worth approximately $36,000. AXQ Capital LP bought a new position in Q32 Bio in the 4th quarter worth approximately $36,000. Raymond James Financial Inc. bought a new position in Q32 Bio in the 4th quarter worth approximately $37,000. Finally, Drive Wealth Management LLC bought a new position in Q32 Bio in the 4th quarter worth approximately $38,000. 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.