Q32 Bio Inc. (NASDAQ:QTTB) Given Average Recommendation of "Buy" by Brokerages

Shares of Q32 Bio Inc. (NASDAQ:QTTB - Get Free Report) have earned a consensus rating of "Buy" from the seven brokerages that are presently covering the company, Marketbeat reports. Five analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $72.33.

Several brokerages recently weighed in on QTTB. Wells Fargo & Company began coverage on Q32 Bio in a research note on Wednesday, September 11th. They set an "overweight" rating and a $95.00 target price for the company. Raymond James began coverage on Q32 Bio in a research note on Thursday, October 24th. They set a "strong-buy" rating and a $90.00 target price for the company.

Q32 Bio Stock Performance

NASDAQ:QTTB traded up $0.89 during mid-day trading on Monday, hitting $25.44. 151,047 shares of the company's stock traded hands, compared to its average volume of 70,806. The firm has a 50 day moving average of $43.55 and a two-hundred day moving average of $34.98. Q32 Bio has a 12 month low of $9.18 and a 12 month high of $53.79. The firm has a market capitalization of $309.86 million, a price-to-earnings ratio of -1.79 and a beta of -0.32. The company has a current ratio of 6.53, a quick ratio of 6.53 and a debt-to-equity ratio of 0.61.

Institutional Trading of Q32 Bio

A number of hedge funds have recently modified their holdings of QTTB. Values First Advisors Inc. bought a new stake in shares of Q32 Bio in the 3rd quarter worth approximately $33,000. BNP Paribas Financial Markets lifted its position in shares of Q32 Bio by 199.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,298 shares of the company's stock worth $58,000 after buying an additional 864 shares during the period. Acadian Asset Management LLC bought a new position in shares of Q32 Bio during the 1st quarter worth approximately $62,000. Rhumbline Advisers lifted its position 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 buying an additional 7,593 shares during the period. Finally, MetLife Investment Management LLC bought a new position in shares of Q32 Bio during the 3rd quarter worth approximately $159,000. 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.