Q32 Bio (NASDAQ:QTTB) Shares Down 3.6% - Time to Sell?

Q32 Bio Inc. (NASDAQ:QTTB - Get Free Report) dropped 3.6% on Monday . The stock traded as low as $48.65 and last traded at $48.76. Approximately 30,591 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 67,140 shares. The stock had previously closed at $50.59.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Wells Fargo & Company began coverage on shares of Q32 Bio in a research note on Wednesday, September 11th. They set an "overweight" rating and a $95.00 price target for the company. Raymond James initiated coverage on Q32 Bio in a research report on Thursday. They set a "strong-buy" rating and a $90.00 target price for the company. Five research 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 an average rating of "Buy" and a consensus target price of $72.33.

Q32 Bio Trading Down 7.6 %

The company has a market cap of $563.68 million, a P/E ratio of -2.20 and a beta of -0.32. The company has a current ratio of 6.49, a quick ratio of 6.49 and a debt-to-equity ratio of 0.37. The business has a 50 day moving average price of $44.69 and a 200-day moving average price of $32.99.

Q32 Bio (NASDAQ:QTTB - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($1.42) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.00) by ($0.42). Analysts forecast that Q32 Bio Inc. will post -11.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Q32 Bio

A number of institutional investors and hedge funds have recently made changes to their positions in QTTB. Values First Advisors Inc. bought a new stake in shares of Q32 Bio during the 3rd quarter worth approximately $33,000. Acadian Asset Management LLC acquired a new position in shares of Q32 Bio during the 1st quarter worth approximately $62,000. Rhumbline Advisers increased its holdings 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 acquiring an additional 7,593 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Q32 Bio during the 2nd quarter worth approximately $265,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Q32 Bio during the 2nd quarter worth approximately $315,000. Institutional investors own 31.32% of the company's stock.

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.

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