Q32 Bio Inc. (NASDAQ:QTTB) Sees Significant Growth in Short Interest

Q32 Bio Inc. (NASDAQ:QTTB) was the recipient of a large growth in short interest in December. As of December 15th, there was short interest totaling 428,900 shares, a growth of 45.3% from the November 30th total of 295,192 shares. Approximately 5.8% of the shares of the company are sold short. Based on an average daily volume of 15,874,400 shares, the short-interest ratio is currently 0.0 days. Based on an average daily volume of 15,874,400 shares, the short-interest ratio is currently 0.0 days. Approximately 5.8% of the shares of the company are sold short.

Analyst Ratings Changes

QTTB has been the topic of several recent analyst reports. Wall Street Zen raised Q32 Bio from a “sell” rating to a “hold” rating in a research note on Sunday, October 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Q32 Bio in a research note on Tuesday, October 14th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $7.33.

Insiders Place Their Bets

In related news, CEO Jodie Pope Morrison sold 22,506 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $3.46, for a total value of $77,870.76. Following the transaction, the chief executive officer directly owned 99,000 shares of the company’s stock, valued at approximately $342,540. This trade represents a 18.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Lee Kalowski sold 9,072 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $3.46, for a total value of $31,389.12. Following the sale, the chief financial officer directly owned 39,938 shares of the company’s stock, valued at $138,185.48. This represents a 18.51% decrease in their position. The disclosure for this sale is available in the SEC filing. 40.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Marshall Wace LLP purchased a new stake in Q32 Bio in the second quarter valued at $25,000. Acadian Asset Management LLC acquired a new stake in Q32 Bio in the first quarter valued at approximately $50,000. Two Sigma Investments LP purchased a new stake in shares of Q32 Bio in the third quarter valued at approximately $62,000. AQR Capital Management LLC acquired a new position in shares of Q32 Bio during the 1st quarter worth approximately $68,000. Finally, Jane Street Group LLC acquired a new position in shares of Q32 Bio during the 2nd quarter worth approximately $69,000. 31.32% of the stock is currently owned by hedge funds and other institutional investors.

Q32 Bio Stock Performance

Shares of NASDAQ QTTB remained flat at $3.20 during midday trading on Tuesday. 90,415 shares of the stock were exchanged, compared to its average volume of 1,200,913. The stock has a market cap of $39.36 million, a P/E ratio of -0.93 and a beta of 0.23. The stock’s 50 day moving average is $2.74 and its 200 day moving average is $2.28. Q32 Bio has a 1 year low of $1.35 and a 1 year high of $6.37.

Q32 Bio (NASDAQ:QTTB) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.60) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.39) by $0.79. Equities analysts predict that Q32 Bio will post -12.32 EPS for the current fiscal year.

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.