Q32 Bio (NASDAQ:QTTB) Coverage Initiated at SVB Leerink

SVB Leerink assumed coverage on shares of Q32 Bio (NASDAQ:QTTB) in a research report sent to investors on Tuesday, Marketbeat reports. The brokerage issued an outperform rating and a $54.00 price target on the stock.

Several other research analysts have also weighed in on QTTB. Piper Sandler assumed coverage on Q32 Bio in a research report on Tuesday, April 2nd. They issued an overweight rating and a $45.00 target price on the stock. Oppenheimer assumed coverage on Q32 Bio in a report on Thursday, April 11th. They set an outperform rating and a $50.00 price target for the company.

Q32 Bio Trading Down 11.6 %

NASDAQ:QTTB opened at $26.00 on Tuesday. The company has a fifty day moving average of $25.45. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.19 and a quick ratio of 4.19. Q32 Bio has a 1-year low of $8.24 and a 1-year high of $32.88.

Q32 Bio (NASDAQ:QTTB) last issued its earnings results on Tuesday, March 12th. The company reported ($4.32) EPS for the quarter. Sell-side analysts anticipate that Q32 Bio will post -10.74 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QTTB. Acadian Asset Management LLC acquired a new position in shares of Q32 Bio in the 1st quarter worth approximately $62,000. Ikarian Capital LLC acquired a new position in Q32 Bio during the first quarter worth $381,000. BML Capital Management LLC acquired a new stake in shares of Q32 Bio in the 1st quarter valued at $424,000. Affinity Asset Advisors LLC bought a new stake in shares of Q32 Bio in the 1st quarter worth about $473,000. Finally, Vanguard Group Inc. bought a new position in Q32 Bio during the 1st quarter valued at about $1,836,000. Institutional investors own 31.32% of the company’s stock.

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.