Q32 Bio (NASDAQ:QTTB) Stock Price Down 0.9% – Should You Sell?

Q32 Bio Inc. (NASDAQ:QTTB) shares dropped 0.9% during trading on Thursday . The stock traded as low as $26.14 and last traded at $27.04. Approximately 167,998 shares were traded during trading, an increase of 139% from the average daily volume of 70,286 shares. The stock had previously closed at $27.28.

Analysts Set New Price Targets

A number of research firms have recently commented on QTTB. Wells Fargo & Company assumed coverage on shares of Q32 Bio in a research note on Wednesday, September 11th. They set an “overweight” rating and a $95.00 price objective for the company. Raymond James assumed coverage on Q32 Bio in a research note on Thursday, October 24th. They issued a “strong-buy” rating and a $90.00 price target for the company. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $72.33.

Q32 Bio Stock Performance

The company has a debt-to-equity ratio of 0.61, a current ratio of 6.53 and a quick ratio of 6.53. The firm has a 50-day moving average price of $43.94 and a 200 day moving average price of $34.88.

Institutional Trading of Q32 Bio

A number of institutional investors have recently bought and sold shares of QTTB. Values First Advisors Inc. bought a new stake in Q32 Bio during the third quarter worth about $33,000. BNP Paribas Financial Markets boosted its position in shares of Q32 Bio by 199.1% during the 3rd 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. Acadian Asset Management LLC bought a new position in Q32 Bio in the first quarter valued at approximately $62,000. Rhumbline Advisers lifted its stake in 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 purchasing an additional 7,593 shares during the last quarter. Finally, MetLife Investment Management LLC acquired a new stake in shares of Q32 Bio in the 3rd quarter valued at $159,000. Institutional investors own 31.32% of the company’s stock.

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.