Brokerages Set Q32 Bio Inc. (NASDAQ:QTTB) PT at $68.80

Q32 Bio Inc. (NASDAQ:QTTB) has been assigned an average recommendation of “Buy” from the six ratings firms that are currently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $68.80.

A number of research analysts have commented on the stock. Leerink Partnrs upgraded shares of Q32 Bio to a “strong-buy” rating in a research note on Tuesday, May 21st. Leerink Partners began coverage on Q32 Bio in a research report on Tuesday, May 21st. They issued an “outperform” rating and a $54.00 price target on the stock. Guggenheim assumed coverage on Q32 Bio in a research report on Monday, June 17th. They set a “buy” rating and a $100.00 price objective for the company. Finally, Wells Fargo & Company initiated coverage on Q32 Bio in a research note on Wednesday, September 11th. They issued an “overweight” rating and a $95.00 target price on the stock.

Q32 Bio Price Performance

Shares of QTTB opened at $47.93 on Wednesday. Q32 Bio has a 1-year low of $8.24 and a 1-year high of $53.79. The stock has a market capitalization of $572.38 million, a PE ratio of -1.47 and a beta of -0.32. The company has a current ratio of 6.49, a quick ratio of 6.49 and a debt-to-equity ratio of 0.37. The company has a fifty day moving average of $37.42.

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

Institutional Investors Weigh In On Q32 Bio

A number of institutional investors have recently added to or reduced their stakes in QTTB. Atlas Venture Life Science Advisors LLC purchased a new position in shares of Q32 Bio during the 1st quarter worth approximately $35,649,000. Carlyle Group Inc. purchased a new position in shares of Q32 Bio during the 1st quarter worth approximately $18,074,000. ARCH Venture Management LLC purchased a new position in shares of Q32 Bio during the 1st quarter worth approximately $5,461,000. Harvard Management Co. Inc. purchased a new position in shares of Q32 Bio during the 2nd quarter worth approximately $2,925,000. Finally, Platinum Investment Management Ltd. purchased a new position in shares of Q32 Bio during the 1st quarter worth approximately $1,874,000. Hedge funds and other institutional investors 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.