Q32 Bio (NASDAQ:QTTB) Receives New Coverage from Analysts at Wells Fargo & Company

Wells Fargo & Company assumed coverage on shares of Q32 Bio (NASDAQ:QTTB) in a research report sent to investors on Wednesday morning, Marketbeat.com reports. The firm issued an overweight rating and a $95.00 target price on the stock.

A number of other research firms have also commented on QTTB. Leerink Partnrs raised Q32 Bio to a strong-buy rating in a research report on Tuesday, May 21st. Leerink Partners assumed coverage on Q32 Bio in a research report on Tuesday, May 21st. They set an outperform rating and a $54.00 price target on the stock. Finally, Guggenheim initiated coverage on Q32 Bio in a research report on Monday, June 17th. They set a buy rating and a $100.00 price target on the stock. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Buy and an average target price of $68.80.

Q32 Bio Trading Up 3.8 %

Shares of QTTB opened at $49.79 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 6.49 and a current ratio of 6.49. Q32 Bio has a 1 year low of $8.24 and a 1 year high of $53.79. The company has a market capitalization of $594.59 million, a PE ratio of -1.53 and a beta of -0.33. The stock’s 50-day moving average is $35.25.

Q32 Bio (NASDAQ:QTTB) last released its quarterly earnings results on Thursday, August 8th. The company reported ($1.42) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.42). As a group, equities analysts forecast that Q32 Bio will post -11.76 EPS for the current year.

Institutional Investors Weigh In On Q32 Bio

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new stake in Q32 Bio in the 1st quarter valued at approximately $62,000. Rhumbline Advisers increased its position in shares of Q32 Bio by 11,681.5% during the 2nd quarter. Rhumbline Advisers now owns 7,658 shares of the company’s stock worth $137,000 after purchasing an additional 7,593 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Q32 Bio during the 2nd quarter worth approximately $265,000. Bank of New York Mellon Corp acquired a new position in shares of Q32 Bio during the 2nd quarter worth approximately $315,000. Finally, Ikarian Capital LLC acquired a new position in shares of Q32 Bio during the 1st quarter worth approximately $381,000. Institutional investors and hedge funds own 31.32% of the company’s stock.

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.