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

by · The Cerbat Gem

Q32 Bio Inc. (NASDAQ:QTTB – Get Free Report) was the recipient of a significant drop in short interest during the month of December. As of December 31st, there was short interest totaling 282,006 shares, a drop of 34.2% from the December 15th total of 428,900 shares. Based on an average daily trading volume, of 166,051 shares, the days-to-cover ratio is currently 1.7 days. Currently, 3.8% of the shares of the company are short sold. Currently, 3.8% of the shares of the company are short sold. Based on an average daily trading volume, of 166,051 shares, the days-to-cover ratio is currently 1.7 days.

Insider Activity

In related news, CEO Jodie Pope Morrison sold 22,506 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $3.46, for a total value of $77,870.76. Following the transaction, the chief executive officer owned 99,000 shares in the company, valued at $342,540. The trade was a 18.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Lee Kalowski sold 9,072 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $3.46, for a total value of $31,389.12. Following the sale, the chief financial officer directly owned 39,938 shares of the company’s stock, valued at approximately $138,185.48. This represents a 18.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 40.00% of the company’s stock.

Hedge Funds Weigh In On Q32 Bio

Large investors have recently made changes to their positions in the stock. Marshall Wace LLP acquired a new stake in shares of Q32 Bio in the second quarter valued at about $25,000. Acadian Asset Management LLC purchased a new position in Q32 Bio in the first quarter valued at about $50,000. Two Sigma Investments LP acquired a new stake in shares of Q32 Bio during the 3rd quarter valued at approximately $62,000. AQR Capital Management LLC purchased a new stake in shares of Q32 Bio during the 1st quarter worth approximately $68,000. Finally, Jane Street Group LLC purchased a new stake in shares of Q32 Bio during the 2nd quarter worth approximately $69,000. Hedge funds and other institutional investors own 31.32% of the company’s stock.

Q32 Bio Price Performance

Shares of QTTB remained flat at $3.60 during mid-day trading on Friday. The stock had a trading volume of 104,964 shares, compared to its average volume of 139,805. Q32 Bio has a 1-year low of $1.35 and a 1-year high of $6.37. The stock has a market capitalization of $44.28 million, a price-to-earnings ratio of -1.05 and a beta of 0.13. The business has a fifty day moving average of $2.97 and a 200-day moving average of $2.46.

Q32 Bio (NASDAQ:QTTB – Get Free Report) last released its quarterly earnings data on Thursday, November 13th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.39) by $0.79. Sell-side analysts anticipate that Q32 Bio will post -12.32 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on QTTB shares. Wall Street Zen raised Q32 Bio from a “sell” rating to a “hold” rating in a report on Sunday, October 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Q32 Bio in a research report on Friday, January 9th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $7.33.

Read Our Latest Stock Analysis on QTTB

About Q32 Bio

(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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