Q32 Bio (NASDAQ:QTTB) Given New $22.00 Price Target at BMO Capital Markets

Q32 Bio (NASDAQ:QTTB) had its price objective lowered by BMO Capital Markets from $64.00 to $22.00 in a research note published on Thursday morning,Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

QTTB has been the subject of a number of other research reports. Guggenheim lowered Q32 Bio from a “buy” rating to a “neutral” rating in a research report on Wednesday. Leerink Partners restated a “market perform” rating and set a $9.00 price target (down previously from $68.00) on shares of Q32 Bio in a report on Wednesday. Oppenheimer decreased their price objective on Q32 Bio from $80.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday. Raymond James reissued an “outperform” rating and issued a $22.00 target price (down from $90.00) on shares of Q32 Bio in a report on Wednesday. Finally, Leerink Partnrs cut shares of Q32 Bio from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $29.86.

Q32 Bio Trading Down 28.6 %

Shares of NASDAQ:QTTB opened at $4.25 on Thursday. The firm has a fifty day moving average price of $37.63 and a 200 day moving average price of $34.28. Q32 Bio has a fifty-two week low of $4.17 and a fifty-two week high of $53.79. The company has a debt-to-equity ratio of 0.61, a quick ratio of 6.53 and a current ratio of 6.53.

Institutional Trading of Q32 Bio

Institutional investors have recently bought and sold shares of the stock. FMR LLC increased its position in Q32 Bio by 137.3% during the third quarter. FMR LLC now owns 426,302 shares of the company’s stock valued at $19,022,000 after acquiring an additional 246,664 shares during the last quarter. Eventide Asset Management LLC bought a new position in Q32 Bio during the 3rd quarter valued at about $8,478,000. Harvard Management Co. Inc. purchased a new stake in Q32 Bio in the 2nd quarter worth about $2,925,000. Vanguard Group Inc. bought a new stake in Q32 Bio in the first quarter worth about $1,836,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Q32 Bio during the third quarter valued at approximately $3,422,000. 31.32% of the stock is currently owned by 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.