Q32 Bio Inc. (NASDAQ:QTTB) Short Interest Update

Q32 Bio Inc. (NASDAQ:QTTB) was the recipient of a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 1,470,000 shares, a growth of 31.3% from the December 15th total of 1,120,000 shares. Currently, 31.8% of the company’s shares are short sold. Based on an average daily trading volume, of 334,600 shares, the days-to-cover ratio is presently 4.4 days.

Q32 Bio Stock Up 4.5 %

NASDAQ:QTTB traded up $0.14 during trading hours on Friday, hitting $3.28. The stock had a trading volume of 173,275 shares, compared to its average volume of 526,346. The company has a market cap of $39.95 million, a PE ratio of -0.23 and a beta of -0.30. The business has a 50 day simple moving average of $14.76 and a two-hundred day simple moving average of $31.17. Q32 Bio has a 1-year low of $2.99 and a 1-year high of $53.79. The company has a current ratio of 6.53, a quick ratio of 6.53 and a debt-to-equity ratio of 0.61.

Institutional Investors Weigh In On Q32 Bio

Large investors have recently added to or reduced their stakes in the company. Values First Advisors Inc. acquired a new position in Q32 Bio in the 3rd quarter worth $33,000. BNP Paribas Financial Markets lifted its stake in shares of Q32 Bio by 199.1% in the third quarter. BNP Paribas Financial Markets now owns 1,298 shares of the company’s stock worth $58,000 after acquiring an additional 864 shares in the last quarter. Rhumbline Advisers boosted its holdings in Q32 Bio by 11,681.5% in the second quarter. Rhumbline Advisers now owns 7,658 shares of the company’s stock valued at $137,000 after purchasing an additional 7,593 shares during the last quarter. MetLife Investment Management LLC purchased a new position in Q32 Bio in the third quarter valued at about $159,000. Finally, Franklin Resources Inc. acquired a new stake in Q32 Bio during the 3rd quarter valued at approximately $225,000. 31.32% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Leerink Partnrs lowered shares of Q32 Bio from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. BMO Capital Markets reduced their target price on Q32 Bio from $64.00 to $22.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Piper Sandler lowered their price target on Q32 Bio from $85.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday, December 11th. Leerink Partners restated a “market perform” rating and issued a $9.00 price objective (down from $68.00) on shares of Q32 Bio in a report on Wednesday, December 11th. Finally, Oppenheimer decreased their target price on Q32 Bio from $80.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $29.86.

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.