Q32 Bio (NASDAQ:QTTB) Research Coverage Started at Raymond James

Raymond James began coverage on shares of Q32 Bio (NASDAQ:QTTB - Get Free Report) in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The brokerage set a "strong-buy" rating and a $90.00 price target on the stock. Raymond James' price target points to a potential upside of 89.00% from the company's current price.

Separately, Wells Fargo & Company began coverage on shares of Q32 Bio in a research report on Wednesday, September 11th. They set an "overweight" rating and a $95.00 price target for the company. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $72.33.

Q32 Bio Price Performance

Shares of Q32 Bio stock traded down $0.16 during trading on Thursday, reaching $47.62. The company's stock had a trading volume of 94,664 shares, compared to its average volume of 66,889. The business has a 50 day moving average price of $44.20 and a 200-day moving average price of $32.52. Q32 Bio has a 12-month low of $8.24 and a 12-month high of $53.79. The company has a market capitalization of $568.68 million, a P/E ratio of -1.45 and a beta of -0.32. The company has a quick ratio of 6.49, a current ratio of 6.49 and a debt-to-equity ratio of 0.37.

Q32 Bio (NASDAQ:QTTB - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($1.42) earnings per share for the quarter, missing analysts' consensus estimates of ($1.00) by ($0.42). As a group, sell-side analysts anticipate that Q32 Bio will post -11.76 EPS for the current year.

Hedge Funds Weigh In On Q32 Bio

Hedge funds have recently bought and sold shares of the stock. Values First Advisors Inc. purchased a new stake in shares of Q32 Bio in the third quarter valued at $33,000. Acadian Asset Management LLC purchased a new position in Q32 Bio in the 1st quarter valued at about $62,000. Rhumbline Advisers boosted its stake in shares of Q32 Bio by 11,681.5% during the 2nd quarter. Rhumbline Advisers now owns 7,658 shares of the company's stock worth $137,000 after purchasing an additional 7,593 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Q32 Bio during the 2nd quarter worth about $265,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Q32 Bio during the second quarter worth about $315,000. Hedge funds and other institutional investors own 31.32% of the company's stock.

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.