Key Points
- Q32 Bio director Orbimed Advisors LLC bought 1.875 million shares at an average price of $8.00, a $15 million transaction that boosted its holdings by 115.17% to 3,502,987 shares.
- The stock was trading higher, opening at $11.66 and up 5.5%, with shares near their 12-month high of $13.15 and far above both the 50-day and 200-day moving averages.
- Analysts remain cautiously positive, with a consensus rating of “Moderate Buy” and an average price target of $13.50, while Q32 Bio recently beat quarterly EPS estimates by posting a smaller-than-expected loss.
Q32 Bio Inc. (NASDAQ:QTTB - Get Free Report) Director Orbimed Advisors Llc bought 1,875,000 shares of the firm's stock in a transaction that occurred on Thursday, May 28th. The stock was purchased at an average cost of $8.00 per share, for a total transaction of $15,000,000.00. Following the completion of the purchase, the director owned 3,502,987 shares of the company's stock, valued at $28,023,896. This trade represents a 115.17% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Q32 Bio Stock Up 5.5%
Shares of Q32 Bio stock opened at $11.66 on Tuesday. 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 company's fifty day simple moving average is $6.45 and its two-hundred day simple moving average is $4.72. The company has a market cap of $197.75 million, a P/E ratio of 4.38 and a beta of 0.26. Q32 Bio Inc. has a 12-month low of $1.35 and a 12-month high of $13.15.
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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.68) by $0.14. Research analysts anticipate that Q32 Bio Inc. will post -1.96 EPS for the current year.
Wall Street Analyst Weigh In
QTTB has been the topic of a number of research analyst reports. Weiss Ratings raised shares of Q32 Bio from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, May 11th. Mizuho initiated coverage on shares of Q32 Bio in a research report on Friday, May 22nd. They set an "outperform" rating and a $14.00 price objective on the stock. Cantor Fitzgerald initiated coverage on shares of Q32 Bio in a research report on Monday, May 18th. They set an "overweight" rating on the stock. HC Wainwright reissued a "buy" rating and set a $13.00 price objective on shares of Q32 Bio in a research report on Tuesday, May 5th. Finally, Zacks Research downgraded shares of Q32 Bio from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 18th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $13.50.
Read Our Latest Research Report on QTTB
Institutional Trading of Q32 Bio
A number of hedge funds and other institutional investors have recently modified their holdings of QTTB. Marshall Wace LLP purchased a new stake in shares of Q32 Bio in the 2nd quarter worth about $25,000. Acadian Asset Management LLC purchased a new stake in shares of Q32 Bio in the 1st quarter worth about $50,000. Two Sigma Investments LP purchased a new stake in shares of Q32 Bio in the 3rd quarter worth about $62,000. ADAR1 Capital Management LLC purchased a new stake in shares of Q32 Bio in the 4th quarter worth about $66,000. Finally, AQR Capital Management LLC purchased a new stake in shares of Q32 Bio in the 1st quarter worth about $68,000. 31.32% of the stock is owned by hedge funds and other institutional investors.
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
