Q32 Bio (NASDAQ:QTTB) Earns "Equal Weight" Rating from Wells Fargo & Company

Q32 Bio (NASDAQ:QTTB - Get Free Report)'s stock had its "equal weight" rating reissued by equities research analysts at Wells Fargo & Company in a note issued to investors on Wednesday, MarketBeat.com reports. They currently have a $16.00 price target on the stock, down from their previous price target of $95.00. Wells Fargo & Company's price target points to a potential upside of 168.91% from the company's current price.

Other equities analysts also recently issued research reports about the company. Piper Sandler decreased their target price on Q32 Bio from $85.00 to $20.00 and set an "overweight" rating on the stock in a research report on Wednesday. BMO Capital Markets began coverage on Q32 Bio in a report on Friday, December 6th. They issued an "outperform" rating and a $64.00 price objective on the stock. Finally, Raymond James initiated coverage on shares of Q32 Bio in a report on Thursday, October 24th. They set a "strong-buy" rating and a $90.00 target price for the company. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $35.86.

Q32 Bio Price Performance

Shares of QTTB traded down $18.46 during mid-day trading on Wednesday, hitting $5.95. 3,419,135 shares of the company were exchanged, compared to its average volume of 87,810. 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 1-year low of $5.80 and a 1-year high of $53.79. The stock 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 50 day moving average of $39.13 and a 200-day moving average of $34.69.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Franklin Resources Inc. purchased a new stake in shares of Q32 Bio during the 3rd quarter valued at approximately $225,000. Barclays PLC increased its stake in Q32 Bio by 105.2% during the third quarter. Barclays PLC now owns 10,443 shares of the company's stock worth $465,000 after acquiring an additional 5,353 shares during the last quarter. Geode Capital Management LLC raised its position 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 period. Jane Street Group LLC acquired a new position in shares of Q32 Bio in the 3rd quarter valued at $733,000. Finally, State Street Corp lifted its stake in shares of Q32 Bio by 35.5% in the 3rd quarter. State Street Corp now owns 110,164 shares of the company's stock valued at $4,916,000 after purchasing an additional 28,865 shares during the last quarter. Institutional investors and hedge funds own 31.32% of the company's stock.

About Q32 Bio

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.