Insider Buying: Q32 Bio (NASDAQ:QTTB) Director Buys $15,000,000.00 in Stock

Q32 Bio Inc. (NASDAQ:QTTB) Director Diyong Xu acquired 1,875,000 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was purchased at an average price of $8.00 per share, for a total transaction of $15,000,000.00. Following the completion of the purchase, the director directly owned 3,502,987 shares in the company, valued at $28,023,896. This trade represents a 115.17% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Q32 Bio Price Performance

Shares of NASDAQ:QTTB opened at $12.19 on Thursday. The firm has a market capitalization of $206.74 million, a PE ratio of 4.58 and a beta of 0.27. The company has a quick ratio of 5.36, a current ratio of 5.36 and a debt-to-equity ratio of 0.04. The company has a 50-day moving average price of $6.68 and a two-hundred day moving average price of $4.86. Q32 Bio Inc. has a twelve month low of $1.35 and a twelve month high of $13.19.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in QTTB. Marshall Wace LLP purchased a new stake in shares of Q32 Bio in the second quarter worth $25,000. ADAR1 Capital Management LLC purchased a new position in Q32 Bio during the fourth quarter worth about $66,000. XTX Topco Ltd bought a new position in Q32 Bio in the 4th quarter worth about $68,000. Cetera Investment Advisers bought a new position in Q32 Bio in the 1st quarter worth about $133,000. Finally, HRT Financial LP raised its holdings in shares of Q32 Bio by 66.5% in the 4th quarter. HRT Financial LP now owns 24,698 shares of the company’s stock valued at $81,000 after acquiring an additional 9,862 shares in the last quarter. 31.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

QTTB has been the topic of several recent research reports. Cantor Fitzgerald assumed coverage on Q32 Bio in a research report on Monday, May 18th. They set an “overweight” rating on the stock. Zacks Research cut Q32 Bio from a “strong-buy” rating to a “hold” rating in a research 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 research note on Friday, May 22nd. They issued an “outperform” rating and a $14.00 target price for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $13.00 target price on shares of Q32 Bio in a report on Tuesday, May 5th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Q32 Bio currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.50.

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.