Q32 Bio Inc. (NASDAQ:QTTB) Given Consensus Recommendation of “Buy” by Analysts

Q32 Bio Inc. (NASDAQ:QTTB) has been assigned a consensus rating of “Buy” from the seven brokerages that are presently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $72.33.

A number of equities analysts recently weighed in on the company. Wells Fargo & Company initiated coverage on Q32 Bio in a research report on Wednesday, September 11th. They issued an “overweight” rating and a $95.00 price target for the company. Raymond James started coverage on shares of Q32 Bio in a report on Thursday, October 24th. They issued a “strong-buy” rating and a $90.00 target price for the company.

Institutional Inflows and Outflows

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

Q32 Bio Price Performance

Shares of NASDAQ:QTTB opened at $26.91 on Monday. The company has a market capitalization of $327.76 million, a PE ratio of -1.89 and a beta of -0.32. 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 fifty day moving average of $41.86 and a 200-day moving average of $34.85. Q32 Bio has a one year low of $9.36 and a one year high of $53.79.

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.