Q32 Bio (NASDAQ:QTTB) Receives Market Perform Rating from Leerink Partners

Leerink Partners restated their market perform rating on shares of Q32 Bio (NASDAQ:QTTB - Free Report) in a research note issued to investors on Wednesday, MarketBeat reports. Leerink Partners currently has a $9.00 price objective on the stock, down from their previous price objective of $68.00.

QTTB has been the topic of several other research reports. Raymond James started coverage on shares of Q32 Bio in a report on Thursday, October 24th. They set a "strong-buy" rating and a $90.00 price objective on the stock. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $16.00 price target (down from $95.00) on shares of Q32 Bio in a research note on Wednesday. BMO Capital Markets initiated coverage on Q32 Bio in a research note on Friday, December 6th. They issued an "outperform" rating and a $64.00 price objective for the company. Finally, 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. 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 company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $35.86.

Q32 Bio Trading Down 75.6 %

Shares of Q32 Bio stock traded down $18.46 on Wednesday, reaching $5.95. 3,394,429 shares of the company's stock were exchanged, compared to its average volume of 87,810. 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 has a 52 week low of $5.80 and a 52 week high of $53.79. 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 firm's 50-day moving average is $39.13 and its two-hundred day moving average is $34.69.

Institutional Trading of Q32 Bio

Several institutional investors and hedge funds have recently modified their holdings of QTTB. Franklin Resources Inc. purchased a new position in shares of Q32 Bio during the third quarter valued at approximately $225,000. Barclays PLC lifted its stake in Q32 Bio by 105.2% during the 3rd quarter. Barclays PLC now owns 10,443 shares of the company's stock valued at $465,000 after acquiring an additional 5,353 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Q32 Bio by 22.4% during the 3rd quarter. Geode Capital Management LLC now owns 131,768 shares of the company's stock worth $5,881,000 after acquiring an additional 24,114 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Q32 Bio in the 3rd quarter worth $733,000. Finally, State Street Corp lifted its position in shares of Q32 Bio by 35.5% during the third quarter. State Street Corp now owns 110,164 shares of the company's stock valued at $4,916,000 after purchasing an additional 28,865 shares in the last quarter. 31.32% of the stock is owned by hedge funds and other institutional investors.

Q32 Bio Company Profile

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.