BMO Capital Markets Issues Pessimistic Forecast for Q32 Bio (NASDAQ:QTTB) Stock Price

Q32 Bio (NASDAQ:QTTB) had its price objective decreased by stock analysts at BMO Capital Markets from $64.00 to $22.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective points to a potential upside of 494.59% from the stock’s current price.

Several other equities analysts have also recently weighed in on QTTB. Guggenheim cut Q32 Bio from a “buy” rating to a “neutral” rating in a report on Wednesday. Raymond James reaffirmed an “outperform” rating and issued a $22.00 price target (down previously from $90.00) on shares of Q32 Bio in a research note on Wednesday. Piper Sandler reduced their price objective on shares of Q32 Bio from $85.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday. Oppenheimer dropped their target price on shares of Q32 Bio from $80.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Leerink Partnrs downgraded shares of Q32 Bio from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $29.86.

Q32 Bio Stock Down 12.9 %

NASDAQ QTTB opened at $3.70 on Thursday. The company has a current ratio of 6.53, a quick ratio of 6.53 and a debt-to-equity ratio of 0.61. The company has a market cap of $45.07 million, a price-to-earnings ratio of -0.26 and a beta of -0.46. The company has a 50 day moving average of $36.81 and a 200-day moving average of $34.13. Q32 Bio has a 1-year low of $3.67 and a 1-year high of $53.79.

Hedge Funds Weigh In On Q32 Bio

A number of institutional investors have recently added to or reduced their stakes in QTTB. Values First Advisors Inc. acquired a new stake in Q32 Bio in the third quarter valued at approximately $33,000. BNP Paribas Financial Markets lifted its stake in shares of Q32 Bio by 199.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,298 shares of the company’s stock valued at $58,000 after acquiring an additional 864 shares during the last quarter. MetLife Investment Management LLC acquired a new stake in shares of Q32 Bio during the 3rd quarter valued at $159,000. Franklin Resources Inc. bought a new stake in Q32 Bio during the 3rd quarter worth $225,000. Finally, Barclays PLC increased its holdings in Q32 Bio by 105.2% in the 3rd quarter. Barclays PLC now owns 10,443 shares of the company’s stock worth $465,000 after purchasing an additional 5,353 shares in the last quarter. 31.32% of the stock is currently 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.