Q32 Bio (NASDAQ:QTTB) Cut to “Hold” at Zacks Research

Q32 Bio (NASDAQ:QTTB) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on the stock. Cantor Fitzgerald began coverage on shares of Q32 Bio in a research report on Monday. They issued an “overweight” rating for the company. Weiss Ratings upgraded shares of Q32 Bio from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. 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. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $13.00.

Q32 Bio Stock Performance

Q32 Bio stock opened at $6.07 on Monday. Q32 Bio has a 1-year low of $1.35 and a 1-year high of $8.05. The firm has a market cap of $102.95 million, a P/E ratio of 2.28 and a beta of -0.05. The firm has a 50-day moving average of $6.07 and a 200-day moving average of $4.35. The company has a current ratio of 5.36, a quick ratio of 5.36 and a debt-to-equity ratio of 0.04.

Q32 Bio (NASDAQ:QTTB) last announced its earnings results on Tuesday, May 5th. The company reported ($0.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.14. Sell-side analysts expect that Q32 Bio will post -2.12 EPS for the current year.

Insider Buying and Selling

In other Q32 Bio news, CEO Jodie Pope Morrison sold 9,896 shares of the stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $4.51, for a total value of $44,630.96. Following the completion of the sale, the chief executive officer owned 89,104 shares of the company’s stock, valued at $401,859.04. This trade represents a 10.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 16,706 shares of company stock valued at $75,344 in the last 90 days. Company insiders own 40.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Opaleye Management Inc. purchased a new position in Q32 Bio in the 4th quarter worth about $708,000. Renaissance Technologies LLC lifted 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 worth $1,328,000 after purchasing an additional 107,315 shares during the last quarter. Jane Street Group LLC acquired a new stake in Q32 Bio in the 2nd quarter worth approximately $69,000. AQR Capital Management LLC bought a new position in Q32 Bio in the 1st quarter worth approximately $68,000. Finally, Two Sigma Investments LP bought a new stake in shares of Q32 Bio during the third quarter valued at approximately $62,000. 31.32% of the stock is owned by institutional investors and hedge funds.

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.