Key Points
- Q32 Bio CEO Jodie Pope Morrison sold 9,845 shares at an average price of $16.56, totaling $163,033.20. The sale reduced her ownership by 2.79% and was made to cover tax withholding tied to vested equity awards.
- Q32 Bio shares opened at $16.15, with the company valued at approximately $480.8 million. The stock remains well above its 52-week low of $1.62 but below its high of $23.57.
- Analysts maintain a generally positive outlook, with five Buy ratings and two Hold ratings and an average price target of $31. Q32 Bio also slightly exceeded quarterly earnings expectations, reporting a loss of $0.44 per share versus the anticipated $0.46 loss.
Q32 Bio Inc. (NASDAQ:QTTB - Get Free Report) insider Shelia Violette sold 2,798 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $16.56, for a total transaction of $46,334.88. Following the transaction, the insider owned 127,771 shares of the company's stock, valued at approximately $2,115,887.76. The trade was a 2.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Q32 Bio Trading Down 0.2%
Q32 Bio stock opened at $16.15 on Friday. The business's 50 day simple moving average is $14.84 and its 200 day simple moving average is $9.67. Q32 Bio Inc. has a 12 month low of $1.62 and a 12 month high of $23.57. The company has a market cap of $480.79 million, a price-to-earnings ratio of 5.38 and a beta of 0.23.
Q32 Bio (NASDAQ:QTTB - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.44) EPS for the quarter, beating analysts' consensus estimates of ($0.46) by $0.02. As a group, equities research analysts forecast that Q32 Bio Inc. will post -1.51 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Q32 Bio
Hedge funds and other institutional investors have recently modified their holdings of the stock. Atlas Venture Life Science Advisors LLC lifted its holdings in shares of Q32 Bio by 29.9% in the second quarter. Atlas Venture Life Science Advisors LLC now owns 2,717,106 shares of the company's stock worth $34,616,000 after buying an additional 625,000 shares in the last quarter. Susquehanna International Group LLP purchased a new position in Q32 Bio during the second quarter valued at approximately $297,000. Carlyle Group Inc. purchased a new position in Q32 Bio during the second quarter valued at approximately $769,000. BlackRock Inc. bought a new stake in Q32 Bio during the 2nd quarter worth approximately $1,510,000. Finally, ADAR1 Capital Management LLC increased its holdings in Q32 Bio by 75.0% during the 1st quarter. ADAR1 Capital Management LLC now owns 35,000 shares of the company's stock worth $225,000 after acquiring an additional 15,000 shares during the period. 31.32% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on QTTB shares. Cantor Fitzgerald started coverage on shares of Q32 Bio in a research report on Monday, May 18th. They issued an "overweight" rating on the stock. Zacks Research downgraded shares of Q32 Bio from a "strong-buy" rating to a "hold" rating in a report on Monday, May 18th. HC Wainwright lifted their price objective on shares of Q32 Bio from $13.00 to $36.00 and gave the company a "buy" rating in a research note on Tuesday, July 28th. Morgan Stanley assumed coverage on shares of Q32 Bio in a report on Monday. They set an "overweight" rating and a $34.00 target price on the stock. Finally, Mizuho began coverage on Q32 Bio in a research report on Friday, May 22nd. They set an "outperform" rating and a $14.00 target price on the stock. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Q32 Bio currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.00.
Get Our Latest Stock Analysis on Q32 Bio
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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