76,685 Shares in Q32 Bio Inc. (NASDAQ:QTTB) Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. purchased a new position in shares of Q32 Bio Inc. (NASDAQ:QTTB - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 76,685 shares of the company's stock, valued at approximately $3,422,000. Point72 Asset Management L.P. owned approximately 0.63% of Q32 Bio as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Values First Advisors Inc. purchased a new stake in Q32 Bio in the 3rd quarter valued at $33,000. BNP Paribas Financial Markets grew its holdings in Q32 Bio by 199.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,298 shares of the company's stock valued at $58,000 after buying an additional 864 shares in the last quarter. Rhumbline Advisers grew its holdings in Q32 Bio by 11,681.5% in the 2nd quarter. Rhumbline Advisers now owns 7,658 shares of the company's stock valued at $137,000 after buying an additional 7,593 shares in the last quarter. MetLife Investment Management LLC purchased a new stake in Q32 Bio in the 3rd quarter valued at $159,000. Finally, Renaissance Technologies LLC purchased a new stake in Q32 Bio in the 2nd quarter valued at $265,000. 31.32% of the stock is currently owned by hedge funds and other institutional investors.

Q32 Bio Trading Down 13.9 %

Shares of Q32 Bio stock traded down $3.60 during trading hours on Monday, hitting $22.32. The company's stock had a trading volume of 98,392 shares, compared to its average volume of 72,101. Q32 Bio Inc. has a twelve month low of $9.54 and a twelve month high of $53.79. The firm has a fifty day moving average of $39.89 and a 200-day moving average of $34.75. The stock has a market cap of $271.86 million, a price-to-earnings ratio of -1.59 and a beta of -0.46. The company has a debt-to-equity ratio of 0.61, a quick ratio of 6.53 and a current ratio of 6.53.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wells Fargo & Company assumed coverage on Q32 Bio in a report on Wednesday, September 11th. They issued an "overweight" rating and a $95.00 target price for the company. Raymond James assumed coverage on Q32 Bio in a report on Thursday, October 24th. They issued a "strong-buy" rating and a $90.00 target price for the company. Finally, BMO Capital Markets started coverage on Q32 Bio in a report on Friday. They issued an "outperform" rating and a $64.00 target price for the company. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $71.14.

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.