Fmr LLC Grows Stock Holdings in Q32 Bio Inc. (NASDAQ:QTTB)

FMR LLC lifted its holdings in Q32 Bio Inc. (NASDAQ:QTTB - Free Report) by 137.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 426,302 shares of the company's stock after acquiring an additional 246,664 shares during the period. FMR LLC owned approximately 3.50% of Q32 Bio worth $19,022,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Ensign Peak Advisors Inc boosted its position in shares of Q32 Bio by 150.6% during the second quarter. Ensign Peak Advisors Inc now owns 64,481 shares of the company's stock worth $1,157,000 after buying an additional 38,750 shares during the period. Harvard Management Co. Inc. acquired a new position in shares of Q32 Bio during the 2nd quarter worth $2,925,000. Vanguard Group Inc. acquired a new position in Q32 Bio during the first quarter valued at approximately $1,836,000. Bank of New York Mellon Corp bought a new position in Q32 Bio during the second quarter worth $315,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Q32 Bio during the 2nd quarter valued at about $265,000. Hedge funds and other institutional investors own 31.32% of the company's stock.

Q32 Bio Stock Performance

Q32 Bio stock traded down $18.46 during mid-day trading on Wednesday, reaching $5.95. The company's stock had a trading volume of 3,391,876 shares, compared to its average volume of 87,696. The company has a debt-to-equity ratio of 0.61, a quick ratio of 6.53 and a current ratio of 6.53. The company has a market capitalization of $72.48 million, a P/E ratio of -0.55 and a beta of -0.46. Q32 Bio Inc. has a 12-month low of $5.80 and a 12-month high of $53.79. The firm's fifty day moving average price is $39.13 and its two-hundred day moving average price is $34.69.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Guggenheim cut shares of Q32 Bio from a "buy" rating to a "neutral" rating in a research report on Wednesday. Leerink Partners reiterated 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. Piper Sandler lowered their target price on Q32 Bio from $85.00 to $20.00 and set an "overweight" rating on the stock in a research report on Wednesday. Wells Fargo & Company reissued an "equal weight" rating and set a $16.00 target price (down from $95.00) on shares of Q32 Bio in a report on Wednesday. Finally, Oppenheimer decreased their price target on Q32 Bio from $80.00 to $20.00 and set an "outperform" rating on the stock in a research report on Wednesday. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Q32 Bio currently has a consensus rating of "Moderate Buy" and an average target price of $35.86.

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.