Jefferies Financial Group Initiates Coverage on Q32 Bio (NASDAQ:QTTB)

Equities research analysts at Jefferies Financial Group assumed coverage on shares of Q32 Bio (NASDAQ:QTTB) in a report issued on Monday, Marketbeat Ratings reports. The firm set a “buy” rating and a $29.00 price target on the stock. Jefferies Financial Group’s price objective indicates a potential upside of 204.30% from the stock’s current price.

Several other equities analysts have also recently weighed in on the stock. Mizuho upgraded shares of Q32 Bio to a “strong-buy” rating in a research note on Monday, September 7th. Morgan Stanley started coverage on shares of Q32 Bio in a report on Monday, August 24th. They set an “overweight” rating and a $34.00 target price for the company. Oppenheimer increased their price target on shares of Q32 Bio from $20.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. HC Wainwright lifted their price target on shares of Q32 Bio from $13.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Q32 Bio in a research report on Wednesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Q32 Bio has an average rating of “Moderate Buy” and an average target price of $30.60.

Q32 Bio Price Performance

Shares of QTTB opened at $9.53 on Monday. The firm has a market capitalization of $283.71 million, a P/E ratio of 3.18 and a beta of 0.21. Q32 Bio has a one year low of $1.90 and a one year high of $23.57. The business has a fifty day moving average of $13.68 and a 200 day moving average of $10.77.

Q32 Bio (NASDAQ:QTTB) last posted its earnings results on Wednesday, August 5th. The company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.02. Analysts expect that Q32 Bio will post -1.54 EPS for the current fiscal year.

Insider Buying and Selling

In other Q32 Bio news, insider Shelia M. Violette sold 2,798 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $16.56, for a total value of $46,334.88. Following the completion of the transaction, the insider directly owned 127,771 shares in the company, valued at $2,115,887.76. This represents a 2.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jodie Morrison sold 9,845 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $16.56, for a total transaction of $163,033.20. Following the completion of the sale, the chief executive officer directly owned 343,259 shares of the company’s stock, valued at approximately $5,684,369.04. This trade represents a 2.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 16,615 shares of company stock valued at $275,144. 34.46% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Cetera Investment Advisers purchased a new stake in Q32 Bio in the 1st quarter worth $133,000. ADAR1 Capital Management LLC raised its holdings in Q32 Bio by 75.0% during the first quarter. ADAR1 Capital Management LLC now owns 35,000 shares of the company’s stock valued at $225,000 after acquiring an additional 15,000 shares during the period. Susquehanna International Group LLP purchased a new position in shares of Q32 Bio in the second quarter valued at about $297,000. Squarepoint Ops LLC purchased a new position in shares of Q32 Bio in the second quarter valued at about $303,000. Finally, Carlyle Group Inc. bought a new position in shares of Q32 Bio in the second quarter worth about $769,000. Hedge funds and other institutional investors own 31.32% of the company’s stock.

Q32 Bio Company Profile

Q32 Bio Inc is a clinical-stage biotechnology company focused on developing therapies for diseases associated with immune dysregulation. The company’s research is aimed at restoring balance in the immune system by targeting biological pathways involved in inflammation, tissue repair and immune regulation.

Q32 Bio’s lead product candidate is bempikibart, also known as ADX-914, a fully human monoclonal antibody designed to inhibit activin A signaling through the activin receptor type IIB pathway.