BMO Capital Markets Downgrades Q32 Bio (NASDAQ:QTTB) to Market Perform

Q32 Bio (NASDAQ:QTTB) was downgraded by equities researchers at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. They currently have a $3.00 price objective on the stock, down from their prior price objective of $22.00. BMO Capital Markets’ price objective points to a potential downside of 5.66% from the stock’s current price.

A number of other brokerages have also recently issued reports on QTTB. Raymond James restated an “outperform” rating and issued a $22.00 price objective (down previously from $90.00) on shares of Q32 Bio in a research note on Wednesday, December 11th. Leerink Partnrs cut shares of Q32 Bio from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Oppenheimer lowered their price objective on Q32 Bio from $80.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 11th. Piper Sandler downgraded Q32 Bio from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $20.00 to $4.00 in a research report on Tuesday. Finally, Leerink Partners reaffirmed a “market perform” rating and issued a $9.00 price target (down previously from $68.00) on shares of Q32 Bio in a research note on Wednesday, December 11th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $24.86.

Q32 Bio Stock Performance

Shares of NASDAQ QTTB opened at $3.18 on Tuesday. The firm has a market capitalization of $38.73 million, a price-to-earnings ratio of -0.22 and a beta of -0.32. Q32 Bio has a one year low of $2.90 and a one year high of $53.79. The business has a fifty day simple moving average of $5.92 and a 200 day simple moving average of $28.77. The company has a current ratio of 6.53, a quick ratio of 6.53 and a debt-to-equity ratio of 0.61.

Hedge Funds Weigh In On Q32 Bio

Several institutional investors have recently bought and sold shares of QTTB. Monaco Asset Management SAM acquired a new stake in shares of Q32 Bio in the fourth quarter valued at $1,977,000. FMR LLC increased its position in Q32 Bio by 137.3% in the 3rd quarter. FMR LLC now owns 426,302 shares of the company’s stock valued at $19,022,000 after acquiring an additional 246,664 shares in the last quarter. Eventide Asset Management LLC bought a new position in shares of Q32 Bio in the third quarter worth about $8,478,000. Geode Capital Management LLC raised its stake in shares of Q32 Bio by 22.4% in the third quarter. Geode Capital Management LLC now owns 131,768 shares of the company’s stock worth $5,881,000 after acquiring an additional 24,114 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Q32 Bio by 35.5% during the third quarter. State Street Corp now owns 110,164 shares of the company’s stock worth $4,916,000 after purchasing an additional 28,865 shares in the last quarter. Institutional investors 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.