Q32 Bio's (QTTB) "Outperform" Rating Reiterated at Raymond James

Raymond James reaffirmed their outperform rating on shares of Q32 Bio (NASDAQ:QTTB - Free Report) in a report published on Wednesday morning, Marketbeat.com reports. The brokerage currently has a $22.00 target price on the stock, down from their prior target price of $90.00.

Several other analysts have also recently weighed in on QTTB. BMO Capital Markets initiated coverage on Q32 Bio in a report on Friday, December 6th. They set an "outperform" rating and a $64.00 price target for the company. Wells Fargo & Company reissued an "equal weight" rating and set a $16.00 target price (down previously from $95.00) on shares of Q32 Bio in a report on Wednesday. Leerink Partners reaffirmed a "market perform" rating and set a $9.00 target price (down from $68.00) on shares of Q32 Bio in a report on Wednesday. Finally, Piper Sandler cut their price target on Q32 Bio from $85.00 to $20.00 and set an "overweight" rating for the company in a research note on Wednesday. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $35.86.

Q32 Bio Stock Performance

Q32 Bio stock traded down $18.46 during midday trading on Wednesday, reaching $5.95. 3,394,429 shares of the company's stock were exchanged, compared to its average volume of 87,810. The stock's 50-day simple moving average is $39.13 and its 200 day simple moving average is $34.69. The firm has a market cap of $72.48 million, a price-to-earnings ratio of -0.55 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. Q32 Bio has a 52 week low of $5.80 and a 52 week high of $53.79.

Hedge Funds Weigh In On Q32 Bio

Several institutional investors have recently modified their holdings of the business. Franklin Resources Inc. bought a new stake in Q32 Bio in the third quarter worth about $225,000. Barclays PLC raised its holdings in shares of Q32 Bio by 105.2% in the 3rd quarter. Barclays PLC now owns 10,443 shares of the company's stock worth $465,000 after purchasing an additional 5,353 shares during the period. Geode Capital Management LLC lifted its stake in Q32 Bio by 22.4% in the third quarter. Geode Capital Management LLC now owns 131,768 shares of the company's stock valued at $5,881,000 after purchasing an additional 24,114 shares during the last quarter. Jane Street Group LLC bought a new position in Q32 Bio during the third quarter valued at $733,000. Finally, State Street Corp raised its stake in shares of Q32 Bio by 35.5% in the third quarter. State Street Corp now owns 110,164 shares of the company's stock valued at $4,916,000 after buying an additional 28,865 shares during the period. 31.32% of the stock is owned by 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.