Shares of Q32 Bio Inc. (NASDAQ:QTTB - Get Free Report) traded down 0.9% during trading on Thursday . The stock traded as low as $26.14 and last traded at $27.04. 167,998 shares were traded during mid-day trading, an increase of 139% from the average session volume of 70,286 shares. The stock had previously closed at $27.28.
Wall Street Analyst Weigh In
Several analysts recently commented on the company. Wells Fargo & Company assumed coverage on Q32 Bio in a research note on Wednesday, September 11th. They issued an "overweight" rating and a $95.00 price target on the stock. Raymond James initiated coverage on Q32 Bio in a research note on Thursday, October 24th. They issued a "strong-buy" rating and a $90.00 price objective on the stock. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $72.33.
Check Out Our Latest Analysis on Q32 Bio
Q32 Bio Stock Performance
The company has a debt-to-equity ratio of 0.61, a quick ratio of 6.53 and a current ratio of 6.53. The stock has a market cap of $299.02 million, a P/E ratio of -1.75 and a beta of -0.32. The stock has a fifty day simple moving average of $44.37 and a 200-day simple moving average of $34.89.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the stock. Values First Advisors Inc. acquired a new stake in Q32 Bio in the 3rd quarter valued at about $33,000. BNP Paribas Financial Markets raised its stake 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 acquiring an additional 864 shares during the period. MetLife Investment Management LLC acquired a new stake in Q32 Bio during the 3rd quarter valued at $159,000. Acadian Asset Management LLC bought a new position in Q32 Bio during the first quarter worth $62,000. Finally, Rhumbline Advisers increased its holdings in shares of Q32 Bio by 11,681.5% in the second quarter. Rhumbline Advisers now owns 7,658 shares of the company's stock valued at $137,000 after purchasing an additional 7,593 shares during the last quarter. 31.32% of the stock is owned by institutional investors and hedge funds.
About Q32 Bio
(
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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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