Q32 Bio (NASDAQ:QTTB) Coverage Initiated by Analysts at Raymond James

Raymond James initiated coverage on shares of Q32 Bio (NASDAQ:QTTB) in a research report report published on Thursday morning, Marketbeat reports. The firm issued a strong-buy rating and a $90.00 target price on the stock.

Separately, Wells Fargo & Company assumed coverage on shares of Q32 Bio in a research report on Wednesday, September 11th. They set an “overweight” rating and a $95.00 target price for the company. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Q32 Bio presently has an average rating of “Buy” and an average price target of $72.33.

Q32 Bio Stock Performance

QTTB stock opened at $47.62 on Thursday. Q32 Bio has a 12-month low of $8.24 and a 12-month high of $53.79. The stock’s 50 day simple moving average is $44.20 and its 200 day simple moving average is $32.52. The company has a current ratio of 6.49, a quick ratio of 6.49 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $568.68 million, a PE ratio of -1.46 and a beta of -0.32.

Q32 Bio (NASDAQ:QTTB) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($1.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.42). As a group, research analysts forecast that Q32 Bio will post -11.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of QTTB. Values First Advisors Inc. bought a new position in Q32 Bio during the third quarter valued at $33,000. Acadian Asset Management LLC purchased a new stake in Q32 Bio during the first quarter valued at approximately $62,000. Rhumbline Advisers boosted its holdings in shares of Q32 Bio by 11,681.5% in the 2nd quarter. Rhumbline Advisers now owns 7,658 shares of the company’s stock worth $137,000 after purchasing an additional 7,593 shares during the period. Renaissance Technologies LLC purchased a new stake in Q32 Bio during the 2nd quarter valued at $265,000. Finally, Bank of New York Mellon Corp purchased a new position in Q32 Bio during the second quarter worth $315,000. 31.32% of the stock is owned by hedge funds and other institutional investors.

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.