Research analysts at BMO Capital Markets assumed coverage on shares of Q32 Bio (NASDAQ:QTTB - Get Free Report) in a report issued on Friday, MarketBeat Ratings reports. The firm set an "outperform" rating and a $64.00 price target on the stock. BMO Capital Markets' price objective would indicate a potential upside of 146.91% from the company's previous close.
A number of other analysts have also weighed in on QTTB. Wells Fargo & Company initiated coverage on Q32 Bio in a research note on Wednesday, September 11th. They issued an "overweight" rating and a $95.00 target price for the company. Raymond James initiated coverage on shares of Q32 Bio in a research report on Thursday, October 24th. They issued a "strong-buy" rating and a $90.00 price objective for the company. Six research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $71.14.
Check Out Our Latest Analysis on Q32 Bio
Q32 Bio Stock Performance
QTTB stock traded up $2.23 during midday trading on Friday, reaching $25.92. 217,403 shares of the company's stock traded hands, compared to its average volume of 105,290. The company has a 50-day simple moving average of $40.29 and a two-hundred day simple moving average of $34.71. The company has a current ratio of 6.53, a quick ratio of 6.53 and a debt-to-equity ratio of 0.61. Q32 Bio has a 1-year low of $9.54 and a 1-year high of $53.79.
Hedge Funds Weigh In On Q32 Bio
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its holdings in shares of Q32 Bio by 137.3% during the 3rd quarter. FMR LLC now owns 426,302 shares of the company's stock valued at $19,022,000 after purchasing an additional 246,664 shares in the last quarter. Eventide Asset Management LLC bought a new position in Q32 Bio in the third quarter valued at approximately $8,478,000. Harvard Management Co. Inc. acquired a new position in shares of Q32 Bio in the second quarter valued at approximately $2,925,000. Vanguard Group Inc. bought a new stake in shares of Q32 Bio during the first quarter worth $1,836,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Q32 Bio during the third quarter worth $3,422,000. Institutional investors own 31.32% of the company's stock.
Q32 Bio Company Profile
(
Get Free Report)
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.
Further Reading
Before you consider Q32 Bio, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Q32 Bio wasn't on the list.
While Q32 Bio currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten. Are any of these companies lurking around your portfolio? Find out by clicking the link below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
