Q32 Bio Inc. (NASDAQ:QTTB) Short Interest Update

Q32 Bio Inc. (NASDAQ:QTTB) was the target of a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 1,120,000 shares, a growth of 55.8% from the November 30th total of 719,100 shares. Based on an average daily trading volume, of 279,800 shares, the short-interest ratio is currently 4.0 days. Currently, 24.2% of the shares of the company are sold short.

Q32 Bio Price Performance

Shares of NASDAQ:QTTB traded down $0.22 during trading on Friday, reaching $3.36. The stock had a trading volume of 405,248 shares, compared to its average volume of 123,938. The business has a fifty day moving average price of $28.00 and a 200-day moving average price of $32.64. Q32 Bio has a 1-year low of $3.02 and a 1-year high of $53.79. 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 market cap of $40.93 million, a PE ratio of -0.24 and a beta of -0.46.

Institutional Investors Weigh In On Q32 Bio

A number of large investors have recently modified their holdings of QTTB. Point72 Asset Management L.P. acquired a new position in Q32 Bio during the third quarter worth about $3,422,000. FMR LLC boosted its holdings in shares of 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 purchasing an additional 246,664 shares during the last quarter. Ensign Peak Advisors Inc grew its position in shares of Q32 Bio by 150.6% in the second quarter. Ensign Peak Advisors Inc now owns 64,481 shares of the company’s stock valued at $1,157,000 after purchasing an additional 38,750 shares in the last quarter. Harvard Management Co. Inc. acquired a new stake in shares of Q32 Bio in the second quarter valued at approximately $2,925,000. Finally, Bank of New York Mellon Corp purchased a new position in Q32 Bio during the second quarter worth approximately $315,000. Hedge funds and other institutional investors own 31.32% of the company’s stock.

Analyst Upgrades and Downgrades

QTTB has been the topic of a number of recent research reports. Guggenheim downgraded Q32 Bio from a “buy” rating to a “neutral” rating 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. Wells Fargo & Company reiterated an “equal weight” rating and issued a $16.00 target price (down from $95.00) on shares of Q32 Bio in a research note on Wednesday, December 11th. Leerink Partners restated a “market perform” rating and set a $9.00 price target (down previously from $68.00) on shares of Q32 Bio in a research report on Wednesday, December 11th. Finally, Piper Sandler decreased their price objective on shares of Q32 Bio from $85.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $29.86.

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.