Q32 Bio (NASDAQ:QTTB) Earns Equal Weight Rating from Wells Fargo & Company

Q32 Bio (NASDAQ:QTTB)‘s stock had its “equal weight” rating reaffirmed by investment analysts at Wells Fargo & Company in a research report issued on Wednesday, MarketBeat reports. They currently have a $16.00 price objective on the stock, down from their previous price objective of $95.00. Wells Fargo & Company‘s target price would indicate a potential upside of 276.47% from the company’s current price.

A number of other research analysts have also recently commented on QTTB. BMO Capital Markets assumed coverage on shares of Q32 Bio in a research report on Friday, December 6th. They set an “outperform” rating and a $64.00 price target on the stock. Piper Sandler reduced their target price on shares of Q32 Bio from $85.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Raymond James began coverage on shares of 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. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Q32 Bio has a consensus rating of “Moderate Buy” and a consensus price target of $29.86.

Q32 Bio Price Performance

QTTB opened at $4.25 on Wednesday. The company has a current ratio of 6.53, a quick ratio of 6.53 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $51.77 million, a P/E ratio of -0.30 and a beta of -0.46. The stock has a 50-day moving average price of $37.63 and a 200-day moving average price of $34.28. Q32 Bio has a 12-month low of $4.17 and a 12-month high of $53.79.

Institutional Trading of Q32 Bio

Several large investors have recently modified their holdings of QTTB. FMR LLC lifted its holdings in Q32 Bio by 137.3% in the 3rd quarter. FMR LLC now owns 426,302 shares of the company’s stock worth $19,022,000 after buying an additional 246,664 shares during the period. Eventide Asset Management LLC bought a new position in shares of Q32 Bio during the third quarter valued at approximately $8,478,000. Harvard Management Co. Inc. purchased a new stake in Q32 Bio in the second quarter worth $2,925,000. Geode Capital Management LLC boosted its holdings 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 acquiring an additional 24,114 shares in the last quarter. Finally, State Street Corp increased its position in Q32 Bio by 35.5% during the 3rd quarter. State Street Corp now owns 110,164 shares of the company’s stock valued at $4,916,000 after purchasing an additional 28,865 shares during the period. 31.32% of the stock is 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.