Q32 Bio (NASDAQ:QTTB) Posts Earnings Results, Beats Expectations By $0.09 EPS

Q32 Bio (NASDAQ:QTTB) released its quarterly earnings results on Tuesday. The company reported ($1.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.25) by $0.09, Zacks reports.

Q32 Bio Stock Performance

QTTB stock opened at $1.90 on Thursday. The company has a current ratio of 6.53, a quick ratio of 6.53 and a debt-to-equity ratio of 0.61. Q32 Bio has a 12-month low of $1.85 and a 12-month high of $53.79. The stock’s 50 day simple moving average is $2.90 and its 200 day simple moving average is $23.44. The firm has a market cap of $23.14 million, a P/E ratio of -0.13 and a beta of -0.27.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Guggenheim cut Q32 Bio from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 11th. Leerink Partners reiterated a “market perform” rating and set a $9.00 target price (down previously from $68.00) on shares of Q32 Bio in a report on Wednesday, December 11th. BMO Capital Markets downgraded shares of Q32 Bio from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $22.00 to $3.00 in a research note on Tuesday, February 11th. Leerink Partnrs downgraded shares of Q32 Bio from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Finally, Piper Sandler lowered shares of Q32 Bio from an “overweight” rating to a “neutral” rating and cut their price target for the company from $20.00 to $4.00 in a report on Tuesday, February 11th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $24.71.

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.