Q32 Bio (NASDAQ:QTTB) Lowered to “Neutral” Rating by Guggenheim

Q32 Bio (NASDAQ:QTTB) was downgraded by analysts at Guggenheim from a “buy” rating to a “neutral” rating in a note issued to investors on Wednesday,Briefing.com Automated Import reports.

A number of other analysts also recently weighed in on the stock. BMO Capital Markets started coverage on shares of Q32 Bio in a research report on Friday, December 6th. They issued an “outperform” rating and a $64.00 target price on the stock. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $16.00 target price (down previously from $95.00) on shares of Q32 Bio in a research note on Wednesday. Piper Sandler dropped their price target on Q32 Bio from $85.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday. Raymond James reissued an “outperform” rating and issued a $22.00 target price (down from $90.00) on shares of Q32 Bio in a research note on Wednesday. Finally, Oppenheimer dropped their price target on shares of Q32 Bio from $80.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $35.86.

Q32 Bio Trading Down 67.6 %

Shares of Q32 Bio stock traded down $16.51 during midday trading on Wednesday, reaching $7.90. 965,079 shares of the company’s stock traded hands, compared to its average volume of 77,186. The company has a market cap of $96.23 million, a PE ratio of -0.55 and a beta of -0.46. The stock has a 50 day moving average of $39.13 and a 200-day moving average of $34.69. Q32 Bio has a 12 month low of $7.51 and a 12 month high of $53.79. The company has a debt-to-equity ratio of 0.61, a quick ratio of 6.53 and a current ratio of 6.53.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in QTTB. Vanguard Group Inc. purchased a new stake in shares of Q32 Bio during the 1st quarter worth approximately $1,836,000. Bank of New York Mellon Corp purchased a new stake in Q32 Bio during the second quarter valued at $315,000. Rhumbline Advisers lifted its position in Q32 Bio by 11,681.5% during 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. Harvard Management Co. Inc. purchased a new position in shares of Q32 Bio in the 2nd quarter worth $2,925,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Q32 Bio in the 2nd quarter worth about $265,000. 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.