Q32 Bio (NASDAQ:QTTB) CEO Jodie Pope Morrison Sells 3,221 Shares of Stock

Q32 Bio Inc. (NASDAQ:QTTB) CEO Jodie Morrison sold 3,221 shares of the business’s stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $8.32, for a total value of $26,798.72. Following the completion of the transaction, the chief executive officer directly owned 340,038 shares in the company, valued at approximately $2,829,116.16. The trade was a 0.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Jodie Pope Morrison also recently made the following trade(s):

• On Tuesday, August 25th, Jodie Morrison sold 9,845 shares of Q32 Bio stock. The shares were sold at an average price of $16.56, for a total transaction of $163,033.20.

Q32 Bio Stock Performance

Shares of Q32 Bio stock opened at $8.01 on Thursday. Q32 Bio Inc. has a one year low of $1.90 and a one year high of $23.57. The company has a market cap of $238.46 million, a P/E ratio of 3.89 and a beta of 0.31. The firm has a fifty day moving average of $12.08 and a two-hundred day moving average of $10.88.

Q32 Bio (NASDAQ:QTTB) last issued its earnings results on Wednesday, August 5th. The company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($0.46) by $0.02. As a group, equities analysts predict that Q32 Bio Inc. will post -1.54 earnings per share for the current year.

Institutional Investors Weigh In On Q32 Bio

Several institutional investors and hedge funds have recently made changes to their positions in the business. ADAR1 Capital Management LLC boosted its holdings in Q32 Bio by 75.0% in 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 last quarter. Cetera Investment Advisers purchased a new position in Q32 Bio in the first quarter valued at approximately $133,000. Susquehanna International Group LLP acquired a new position in Q32 Bio during the second quarter valued at approximately $297,000. Squarepoint Ops LLC acquired a new position in Q32 Bio during the second quarter valued at approximately $303,000. Finally, Carlyle Group Inc. purchased a new stake in Q32 Bio during the second quarter worth approximately $769,000. 31.32% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on QTTB shares. Mizuho upgraded Q32 Bio to a “strong-buy” rating in a research report on Monday, September 7th. Leerink Partners started coverage on Q32 Bio in a research note on Monday. They set an “outperform” rating and a $40.00 target price for the company. Weiss Ratings raised Q32 Bio from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 21st. Jefferies Financial Group started coverage on Q32 Bio in a research note on Monday, September 28th. They issued a “buy” rating and a $29.00 price target on the stock. Finally, Oppenheimer restated an “outperform” rating on shares of Q32 Bio in a research note on Thursday, October 1st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $32.17.

Q32 Bio Company Profile

Q32 Bio is a clinical-stage biotechnology company focused on developing therapies designed to restore immune homeostasis and address diseases driven by immune dysregulation. The company’s approach targets pathways involved in the transforming growth factor beta superfamily, which plays a role in regulating inflammation, tissue repair and immune responses.

Q32 Bio’s lead product candidate is bempikibart, also known as ADX-914, a fully human monoclonal antibody designed to modulate immune activity through selective targeting of the activin receptor type IIA pathway.