Q32 Bio (NASDAQ:QTTB) Price Target Cut to $20.00 by Analysts at Piper Sandler

Q32 Bio (NASDAQ:QTTB - Free Report) had its price target reduced by Piper Sandler from $85.00 to $20.00 in a research report released on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts have also issued research reports about the company. Wells Fargo & Company initiated coverage on Q32 Bio in a report on Wednesday, September 11th. They issued an "overweight" rating and a $95.00 price objective on the stock. Raymond James began coverage on shares of Q32 Bio in a research report on Thursday, October 24th. They issued a "strong-buy" rating and a $90.00 target price for the company. Finally, BMO Capital Markets initiated coverage on shares of Q32 Bio in a research report on Friday, December 6th. They set an "outperform" rating and a $64.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Q32 Bio has a consensus rating of "Moderate Buy" and an average price target of $35.86.

Q32 Bio Price Performance

Shares of Q32 Bio stock traded down $18.46 during mid-day trading on Wednesday, reaching $5.95. 3,419,135 shares of the stock traded hands, compared to its average volume of 87,810. The company has a quick ratio of 6.53, a current ratio of 6.53 and a debt-to-equity ratio of 0.61. The business has a 50-day moving average of $39.13 and a 200 day moving average of $34.69. The stock has a market capitalization of $72.48 million, a PE ratio of -0.55 and a beta of -0.46. Q32 Bio has a fifty-two week low of $5.80 and a fifty-two week high of $53.79.

Hedge Funds Weigh In On Q32 Bio

A number of institutional investors have recently bought and sold shares of QTTB. FMR LLC grew its stake in shares of Q32 Bio by 137.3% in the 3rd quarter. FMR LLC now owns 426,302 shares of the company's stock valued at $19,022,000 after buying an additional 246,664 shares during the period. Eventide Asset Management LLC purchased a new position in Q32 Bio in the third quarter worth approximately $8,478,000. Harvard Management Co. Inc. purchased a new position in Q32 Bio in the second quarter worth approximately $2,925,000. Vanguard Group Inc. acquired a new stake in Q32 Bio during the first quarter worth $1,836,000. Finally, Point72 Asset Management L.P. purchased a new stake in Q32 Bio in the third quarter valued at $3,422,000. 31.32% of the stock is owned by hedge funds and other institutional investors.

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.