Q32 Bio (NASDAQ:QTTB) Price Target Lowered to $20.00 at Piper Sandler

Q32 Bio (NASDAQ:QTTB) had its target price reduced by stock analysts at Piper Sandler from $85.00 to $20.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price target points to a potential downside of 18.07% from the company’s current price.

QTTB has been the topic of a number of other reports. BMO Capital Markets initiated coverage on Q32 Bio in a report on Friday, December 6th. They issued an “outperform” rating and a $64.00 price target on the stock. Raymond James assumed coverage on Q32 Bio in a research report on Thursday, October 24th. They set a “strong-buy” rating and a $90.00 price objective on the stock. Finally, Wells Fargo & Company assumed coverage on shares of Q32 Bio in a report on Wednesday, September 11th. They issued an “overweight” rating and a $95.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $40.14.

Q32 Bio Price Performance

NASDAQ QTTB opened at $24.41 on Wednesday. The company has a market cap of $297.34 million, a PE ratio of -1.71 and a beta of -0.46. The firm’s 50 day moving average price is $39.13 and its 200-day moving average price is $34.69. The company has a debt-to-equity ratio of 0.61, a quick ratio of 6.53 and a current ratio of 6.53. Q32 Bio has a 52-week low of $9.54 and a 52-week high of $53.79.

Institutional Trading of Q32 Bio

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. acquired a new position in Q32 Bio during the 1st quarter valued at approximately $1,836,000. Bank of New York Mellon Corp acquired a new position in shares of Q32 Bio in the 2nd quarter valued at $315,000. Rhumbline Advisers raised its stake in Q32 Bio by 11,681.5% in the 2nd quarter. Rhumbline Advisers now owns 7,658 shares of the company’s stock worth $137,000 after acquiring an additional 7,593 shares during the last quarter. Harvard Management Co. Inc. purchased a new stake in Q32 Bio during the 2nd quarter valued at about $2,925,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Q32 Bio in the second quarter valued at about $265,000. 31.32% of the stock is currently owned by institutional investors and hedge funds.

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.