Q32 Bio (NASDAQ:QTTB) hits a new 1-year high of $45.00

Shares of Q32 Bio Inc. ( NASDAQ:QTTB – Get Your Free Report ) hit a new 52-week high on Thursday. The company traded as high as $45.00 and last traded at $42.85, with a volume of 4733 shares changing hands. Shares previously closed at $41.90.

Analysts set new price targets

A number of brokerages have recently issued reports on QTTB. Leerink Partners upgraded Q32 Bio to a “strong-buy” rating in a research note on Tuesday, May 21st. Leerink Partners began coverage on shares of Q32 Bio in a report on Tuesday, May 21st. They set an “outperform” rating and a $54.00 price target for the company. Finally, Guggenheim initiated coverage on Q32 Bio in a research report on Monday, June 17th. They set a “buy” rating and a $100.00 price target on the stock. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $62.25.

Get the latest research report on Q32 Bio

Q32 Performance of organic stock

The company has a debt-to-equity ratio of 0.37, a current ratio of 6.49, and a quick ratio of 6.49. The company has a market cap of $511.36 million, a PE ratio of -1.31 and a beta of -0.32. The stock’s 50-day moving average price is $33.46.

Q32 Bio (NASDAQ:QTTB – Get Your Free Report ) last released its earnings results on Thursday, August 8th. The company reported ($1.42) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($0.42). Equities research analysts expect that Q32 Bio Inc. to record -11.76 EPS for the current fiscal year.

Institutional inputs and outputs

Several institutional investors have recently modified their holdings of the stock. Atlas Venture Life Science Advisors LLC purchased a new stake in shares of Q32 Bio in the first quarter valued at about $35,649,000. Vanguard Group Inc. purchased a new position in Q32 Bio in the first quarter valued at approximately $1,836,000. Acadian Asset Management LLC acquired a new stake in Q32 Bio in the 1st quarter valued at $62,000. Ikarian Capital LLC purchased a new stake in Q32 Bio in the first quarter valued at $381,000. Finally, Carlyle Group Inc. acquired a new position in shares of Q32 Bio in the first quarter valued at $18,074,000. Hedge funds and other institutional investors own 31.32% of the company’s shares.

About Q32 Bio

(Get a free report)

Q32 Bio Inc, a clinical-stage biotechnology company, develops biologic therapies to restore healthy immune balance in patients with autoimmune and inflammatory diseases caused 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 kidney disease and other complement-mediated diseases with high unmet need, including lupus nephritis, immunoglobulin A nephropathy, complement component 3 glomerulopathy, and vasculitis associated with anti-neutrophil cytoplasmic antibodies.

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