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

Q32 Bio Inc. (NASDAQ:QTTB) was the target of a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 1,030,000 shares, a drop of 21.4% from the February 13th total of 1,310,000 shares. Based on an average daily volume of 411,900 shares, the days-to-cover ratio is presently 2.5 days. Approximately 23.4% of the company’s stock are sold short.

Q32 Bio Trading Up 1.5 %

Shares of QTTB stock traded up $0.03 during mid-day trading on Monday, hitting $2.03. 9,277 shares of the company’s stock were exchanged, compared to its average volume of 174,042. Q32 Bio has a fifty-two week low of $1.80 and a fifty-two week high of $53.79. The stock has a 50-day simple moving average of $2.82 and a two-hundred day simple moving average of $22.82. The company has a quick ratio of 6.53, a current ratio of 6.53 and a debt-to-equity ratio of 0.61. The stock has a market cap of $24.76 million, a price-to-earnings ratio of -0.14 and a beta of -0.27.

Q32 Bio (NASDAQ:QTTB) last issued its earnings results on Tuesday, March 11th. The company reported ($1.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.25) by $0.09. Equities analysts expect that Q32 Bio will post -12.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio purchased a new stake in shares of Q32 Bio during the fourth quarter worth about $26,000. Hussman Strategic Advisors Inc. purchased a new stake in shares of Q32 Bio during the fourth quarter worth about $36,000. AXQ Capital LP purchased a new stake in shares of Q32 Bio during the fourth quarter worth about $36,000. Raymond James Financial Inc. purchased a new stake in shares of Q32 Bio during the fourth quarter worth about $37,000. Finally, Drive Wealth Management LLC purchased a new stake in shares of Q32 Bio during the fourth quarter worth about $38,000. 31.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Wells Fargo & Company lowered their price objective on shares of Q32 Bio from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 12th. Piper Sandler cut shares of Q32 Bio from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $20.00 to $4.00 in a report on Tuesday, February 11th. BMO Capital Markets cut shares of Q32 Bio from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $22.00 to $3.00 in a report on Tuesday, February 11th. Leerink Partnrs cut shares of Q32 Bio from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Finally, Raymond James reissued an “outperform” rating and set a $22.00 price objective (down previously from $90.00) on shares of Q32 Bio in a report on Wednesday, December 11th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $24.71.

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.