Wall Street Zen Downgrades Q32 Bio (NASDAQ:QTTB) to Sell

by · The Markets Daily

Q32 Bio (NASDAQ:QTTB – Get Free Report) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Q32 Bio in a report on Tuesday, October 14th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $12.17.

Check Out Our Latest Stock Analysis on QTTB

Q32 Bio Price Performance

QTTB opened at $3.17 on Friday. The stock’s 50 day moving average price is $2.13 and its 200 day moving average price is $1.92. The stock has a market cap of $38.67 million, a P/E ratio of -0.74 and a beta of 0.11. Q32 Bio has a 12 month low of $1.35 and a 12 month high of $53.17.

Q32 Bio (NASDAQ:QTTB – Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.78) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.14) by $0.36. Equities analysts anticipate that Q32 Bio will post -12.32 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of QTTB. Monaco Asset Management SAM raised its holdings in shares of Q32 Bio by 17.1% in the 2nd quarter. Monaco Asset Management SAM now owns 591,937 shares of the company’s stock worth $882,000 after purchasing an additional 86,486 shares in the last quarter. Nuveen LLC bought a new stake in Q32 Bio during the first quarter worth approximately $92,000. Jane Street Group LLC acquired a new position in Q32 Bio in the second quarter worth approximately $69,000. AQR Capital Management LLC bought a new position in shares of Q32 Bio in the first quarter valued at $68,000. Finally, Acadian Asset Management LLC bought a new position in shares of Q32 Bio in the first quarter valued at $50,000. Institutional investors own 31.32% of the company’s stock.

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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