Q32 Bio Inc. (NASDAQ:QTTB – Get Free Report) was up 5% during trading on Friday . The company traded as high as $50.00 and last traded at $50.00. Approximately 11,712 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 66,612 shares. The stock had previously closed at $47.62.
Analyst Ratings Changes
QTTB has been the subject of a number of research reports. Raymond James started coverage on shares of Q32 Bio in a report on Thursday. They set a “strong-buy” rating and a $90.00 target price for the company. Wells Fargo & Company started coverage on Q32 Bio in a report on Wednesday, September 11th. They issued an “overweight” rating and a $95.00 target price on the stock. Five investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Q32 Bio has a consensus rating of “Buy” and an average target price of $72.33.
View Our Latest Research Report on QTTB
Q32 Bio Trading Up 7.1 %
Q32 Bio (NASDAQ:QTTB – Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($1.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.42). Research analysts predict that Q32 Bio Inc. will post -11.76 EPS for the current fiscal year.
Institutional Investors Weigh In On Q32 Bio
Large investors have recently modified their holdings of the stock. Values First Advisors Inc. bought a new position in shares of Q32 Bio during the 3rd quarter worth approximately $33,000. Acadian Asset Management LLC bought a new position in Q32 Bio in the 1st quarter valued at $62,000. Rhumbline Advisers raised its position in shares of Q32 Bio by 11,681.5% during the second quarter. Rhumbline Advisers now owns 7,658 shares of the company’s stock worth $137,000 after acquiring an additional 7,593 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Q32 Bio in the 2nd quarter valued at about $265,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Q32 Bio during the 2nd quarter worth approximately $315,000. 31.32% of the stock is currently owned by institutional investors.
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.
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