Q32 Bio (NASDAQ:QTTB) Director Orbimed Advisors Llc Buys 1,875,000 Shares

by · The Cerbat Gem

Q32 Bio Inc. (NASDAQ:QTTB – Get Free Report) Director Orbimed Advisors Llc acquired 1,875,000 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was acquired at an average price of $8.00 per share, with a total value of $15,000,000.00. Following the completion of the transaction, the director directly owned 3,502,987 shares of the company’s stock, valued at $28,023,896. This trade represents a 115.17% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link.

Q32 Bio Trading Up 5.5%

Q32 Bio stock traded up $0.61 during mid-day trading on Monday, hitting $11.66. The company’s stock had a trading volume of 1,071,257 shares, compared to its average volume of 1,395,783. The firm has a market capitalization of $197.75 million, a PE ratio of 4.38 and a beta of 0.26. Q32 Bio Inc. has a 1 year low of $1.35 and a 1 year high of $13.15. The company has a current ratio of 5.36, a quick ratio of 5.36 and a debt-to-equity ratio of 0.04. The stock’s fifty day moving average is $6.45 and its two-hundred day moving average is $4.72.

Q32 Bio (NASDAQ:QTTB – Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.54) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.14. On average, analysts anticipate that Q32 Bio Inc. will post -1.96 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on QTTB shares. HC Wainwright restated a “buy” rating and set a $13.00 price target on shares of Q32 Bio in a research report on Tuesday, May 5th. Cantor Fitzgerald started coverage on Q32 Bio in a research report on Monday, May 18th. They set an “overweight” rating for the company. Weiss Ratings upgraded Q32 Bio from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Mizuho started coverage on Q32 Bio in a research report on Friday, May 22nd. They set an “outperform” rating and a $14.00 price target for the company. Finally, Zacks Research lowered Q32 Bio from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $13.50.

Read Our Latest Stock Analysis on QTTB

Institutional Trading of Q32 Bio

Hedge funds and other institutional investors have recently bought and sold shares of the business. ADAR1 Capital Management LLC acquired a new stake in Q32 Bio in the fourth quarter valued at $66,000. Jane Street Group LLC purchased a new position in shares of Q32 Bio during the fourth quarter worth about $84,000. HRT Financial LP grew its holdings in shares of Q32 Bio by 66.5% during the fourth quarter. HRT Financial LP now owns 24,698 shares of the company’s stock worth $81,000 after purchasing an additional 9,862 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Q32 Bio by 110.6% during the fourth quarter. Renaissance Technologies LLC now owns 99,600 shares of the company’s stock worth $331,000 after purchasing an additional 52,300 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Q32 Bio by 140.9% during the first quarter. Goldman Sachs Group Inc. now owns 44,373 shares of the company’s stock worth $73,000 after purchasing an additional 25,953 shares during the last quarter. 31.32% of the stock is currently owned by institutional investors and hedge funds.

Q32 Bio Company Profile

(Get Free Report)

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.

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