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

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on QTTB. Oppenheimer cut their price objective on shares of Q32 Bio from $80.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th. Raymond James restated an “outperform” rating and set a $22.00 target price (down previously from $90.00) on shares of Q32 Bio in a report on Wednesday, December 11th. Guggenheim cut Q32 Bio from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 11th. Wells Fargo & Company reissued an “equal weight” rating and set a $16.00 price objective (down previously from $95.00) on shares of Q32 Bio in a research note on Wednesday, December 11th. Finally, Leerink Partnrs cut shares of Q32 Bio from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $29.86.

Institutional Trading of Q32 Bio

Several large investors have recently modified their holdings of QTTB. FMR LLC boosted its position in shares of Q32 Bio by 137.3% during the 3rd quarter. FMR LLC now owns 426,302 shares of the company’s stock worth $19,022,000 after acquiring an additional 246,664 shares in the last quarter. Eventide Asset Management LLC bought a new position in Q32 Bio in the third quarter valued at about $8,478,000. Geode Capital Management LLC raised its stake in Q32 Bio by 22.4% during the third quarter. Geode Capital Management LLC now owns 131,768 shares of the company’s stock worth $5,881,000 after acquiring an additional 24,114 shares in the last quarter. State Street Corp boosted its stake 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 purchasing an additional 28,865 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Q32 Bio during the 3rd quarter worth approximately $3,422,000. 31.32% of the stock is owned by institutional investors and hedge funds.

Q32 Bio Price Performance

Shares of NASDAQ QTTB traded up $0.14 during midday trading on Friday, reaching $3.28. The company’s stock had a trading volume of 173,275 shares, compared to its average volume of 526,346. The company has a debt-to-equity ratio of 0.61, a quick ratio of 6.53 and a current ratio of 6.53. The company has a market cap of $39.95 million, a P/E ratio of -0.23 and a beta of -0.30. The business’s 50 day moving average price is $14.76 and its two-hundred day moving average price is $31.17. Q32 Bio has a fifty-two week low of $2.99 and a fifty-two week high of $53.79.

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.