Q32 Bio (NASDAQ:QTTB) Rating Lowered to “Neutral” at Guggenheim

Q32 Bio (NASDAQ:QTTB) was downgraded by Guggenheim from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports.

Other equities analysts also recently issued research reports about the company. Raymond James reaffirmed an “outperform” rating and issued a $22.00 price objective (down previously from $90.00) on shares of Q32 Bio in a research report on Wednesday. Piper Sandler dropped their target price 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. Leerink Partners reiterated a “market perform” rating and issued a $9.00 target price (down from $68.00) on shares of Q32 Bio in a report on Wednesday. Wells Fargo & Company reissued an “equal weight” rating and set a $16.00 target price (down previously from $95.00) on shares of Q32 Bio in a research report on Wednesday. Finally, BMO Capital Markets assumed coverage on shares of Q32 Bio in a research report on Friday, December 6th. They issued an “outperform” rating and a $64.00 price target for the company. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Q32 Bio currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.86.

Q32 Bio Trading Down 67.6 %

NASDAQ QTTB traded down $16.51 during trading on Wednesday, hitting $7.90. The stock had a trading volume of 965,079 shares, compared to its average volume of 77,186. Q32 Bio has a one year low of $7.51 and a one year high of $53.79. The stock has a 50 day simple moving average of $39.13 and a 200 day simple moving average of $34.69. The stock has a market capitalization of $96.23 million, a price-to-earnings ratio of -0.55 and a beta of -0.46. The company has a debt-to-equity ratio of 0.61, a quick ratio of 6.53 and a current ratio of 6.53.

Hedge Funds Weigh In On Q32 Bio

Institutional investors and hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. purchased a new position in shares of Q32 Bio in the 3rd quarter valued at approximately $225,000. Barclays PLC grew its stake in Q32 Bio by 105.2% during the 3rd quarter. Barclays PLC now owns 10,443 shares of the company’s stock valued at $465,000 after purchasing an additional 5,353 shares during the last quarter. Geode Capital Management LLC boosted its position in Q32 Bio by 22.4% in the third quarter. Geode Capital Management LLC now owns 131,768 shares of the company’s stock valued at $5,881,000 after buying an additional 24,114 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Q32 Bio in the third quarter worth $733,000. Finally, State Street Corp lifted its holdings in shares of Q32 Bio by 35.5% in the 3rd quarter. State Street Corp now owns 110,164 shares of the company’s stock valued at $4,916,000 after buying an additional 28,865 shares during the period. 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.