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

Q32 Bio Inc. (NASDAQ:QTTB) was the recipient of a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 1,030,000 shares, a decline of 21.4% from the February 13th total of 1,310,000 shares. Based on an average daily volume of 411,900 shares, the short-interest ratio is presently 2.5 days. Currently, 23.4% of the company’s shares are short sold.

Q32 Bio Stock Performance

Shares of QTTB traded up $0.03 during trading hours on Monday, hitting $2.03. The stock had a trading volume of 9,277 shares, compared to its average volume of 174,042. 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 firm has a 50-day moving average price of $2.82 and a 200 day moving average price of $22.82. Q32 Bio has a fifty-two week low of $1.80 and a fifty-two week high of $53.79. The firm has a market capitalization of $24.76 million, a price-to-earnings ratio of -0.14 and a beta of -0.27.

Q32 Bio (NASDAQ:QTTB) last issued its earnings results on Tuesday, March 11th. The company reported ($1.16) EPS for the quarter, beating analysts’ consensus estimates of ($1.25) by $0.09. As a group, research analysts anticipate that Q32 Bio will post -12.32 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on QTTB shares. Piper Sandler lowered shares of Q32 Bio from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $20.00 to $4.00 in a report on Tuesday, February 11th. Oppenheimer reduced their price target on shares of Q32 Bio from $80.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, December 11th. Guggenheim lowered shares of Q32 Bio from a “buy” rating to a “neutral” rating in a report on Wednesday, December 11th. Raymond James restated an “outperform” rating and issued a $22.00 price target (down previously from $90.00) on shares of Q32 Bio in a report on Wednesday, December 11th. Finally, Leerink Partners restated a “market perform” rating and issued a $9.00 price target (down previously from $68.00) on shares of Q32 Bio in a report on Wednesday, December 11th. Six investment 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 presently has an average rating of “Hold” and an average target price of $24.71.

Institutional Investors Weigh In On Q32 Bio

A number of hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets grew its holdings in shares of Q32 Bio by 199.1% in the third quarter. BNP Paribas Financial Markets now owns 1,298 shares of the company’s stock valued at $58,000 after purchasing an additional 864 shares during the period. MetLife Investment Management LLC purchased a new position in Q32 Bio during the third quarter worth about $159,000. Franklin Resources Inc. purchased a new position in Q32 Bio during the third quarter worth about $225,000. Barclays PLC boosted its stake in Q32 Bio by 105.2% during the third quarter. Barclays PLC now owns 10,443 shares of the company’s stock worth $465,000 after buying an additional 5,353 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in Q32 Bio during the fourth quarter worth about $26,000. Hedge funds and other 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.