Q32 Bio (NASDAQ:QTTB) Price Target Lowered to $20.00 at Oppenheimer

Q32 Bio (NASDAQ:QTTB) had its target price reduced by analysts at Oppenheimer from $80.00 to $20.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price objective would indicate a potential upside of 370.59% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. BMO Capital Markets began coverage on shares of Q32 Bio in a research report on Friday, December 6th. They issued an “outperform” rating and a $64.00 price objective for the company. Piper Sandler reduced their price target on Q32 Bio from $85.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday. Wells Fargo & Company restated an “equal weight” rating and set a $16.00 price objective (down previously from $95.00) on shares of Q32 Bio in a research note on Wednesday. Raymond James reaffirmed an “outperform” rating and issued a $22.00 target price (down from $90.00) on shares of Q32 Bio in a research report on Wednesday. Finally, Leerink Partners reissued a “market perform” rating and set a $9.00 price target (down previously from $68.00) on shares of Q32 Bio in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Q32 Bio currently has an average rating of “Moderate Buy” and a consensus target price of $29.86.

Q32 Bio Trading Down 28.6 %

NASDAQ QTTB opened at $4.25 on Wednesday. The stock has a market cap of $51.77 million, a P/E ratio of -0.30 and a beta of -0.46. The company’s fifty day simple moving average is $37.63 and its 200-day simple moving average is $34.28. The company has a current ratio of 6.53, a quick ratio of 6.53 and a debt-to-equity ratio of 0.61. Q32 Bio has a 52 week low of $4.17 and a 52 week high of $53.79.

Institutional Investors Weigh In On Q32 Bio

Institutional investors and hedge funds have recently made changes to their positions in the company. Values First Advisors Inc. acquired a new position in Q32 Bio in the third quarter worth $33,000. BNP Paribas Financial Markets lifted its position 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 worth $58,000 after buying an additional 864 shares during the last quarter. MetLife Investment Management LLC acquired a new position in shares of Q32 Bio in the 3rd quarter valued at about $159,000. Franklin Resources Inc. bought a new stake in shares of Q32 Bio during the 3rd quarter valued at about $225,000. Finally, Barclays PLC raised its stake in Q32 Bio by 105.2% during the third quarter. Barclays PLC now owns 10,443 shares of the company’s stock worth $465,000 after acquiring an additional 5,353 shares during the period. 31.32% of the stock is owned by institutional investors and hedge funds.

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.