Q32 Bio (NASDAQ:QTTB) Director Orbimed Advisors Llc Acquires 1,875,000 Shares

Q32 Bio Inc. (NASDAQ:QTTB) Director Orbimed Advisors Llc acquired 1,875,000 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were purchased at an average cost of $8.00 per share, for a total transaction of $15,000,000.00. Following the acquisition, the director owned 3,502,987 shares of the company’s stock, valued at approximately $28,023,896. The trade was a 115.17% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Q32 Bio Stock Performance

Shares of QTTB stock traded up $0.61 during mid-day trading on Monday, hitting $11.66. 1,071,257 shares of the stock were exchanged, compared to its average volume of 1,395,783. The stock’s fifty day simple moving average is $6.45 and its two-hundred day simple moving average is $4.72. The stock has a market capitalization of $197.75 million, a price-to-earnings ratio of 4.38 and a beta of 0.26. Q32 Bio Inc. has a 12-month low of $1.35 and a 12-month high of $13.15. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.36 and a current ratio of 5.36.

Q32 Bio (NASDAQ:QTTB) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.54) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.14. On average, analysts forecast that Q32 Bio Inc. will post -1.96 EPS for the current year.

Institutional Investors Weigh In On Q32 Bio

A number of institutional investors have recently added to or reduced their stakes in the business. ADAR1 Capital Management LLC boosted its holdings in Q32 Bio by 75.0% in the 1st quarter. ADAR1 Capital Management LLC now owns 35,000 shares of the company’s stock valued at $225,000 after purchasing an additional 15,000 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Q32 Bio by 107.7% in the 1st quarter. Renaissance Technologies LLC now owns 206,915 shares of the company’s stock valued at $1,328,000 after purchasing an additional 107,315 shares in the last quarter. Cetera Investment Advisers purchased a new stake in Q32 Bio in the 1st quarter valued at approximately $133,000. XTX Topco Ltd purchased a new stake in Q32 Bio in the 4th quarter valued at approximately $68,000. Finally, Opaleye Management Inc. purchased a new stake in Q32 Bio in the 4th quarter valued at approximately $708,000. Hedge funds and other institutional investors own 31.32% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Zacks Research lowered Q32 Bio from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Weiss Ratings raised Q32 Bio from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Mizuho assumed coverage on Q32 Bio in a report on Friday, May 22nd. They set an “outperform” rating and a $14.00 price target on the stock. Cantor Fitzgerald assumed coverage on Q32 Bio in a report on Monday, May 18th. They set an “overweight” rating on the stock. Finally, HC Wainwright reissued a “buy” rating and set a $13.00 price target on shares of Q32 Bio in a report on Tuesday, May 5th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Q32 Bio presently has an average rating of “Moderate Buy” and a consensus price target of $13.50.

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.