Key Points
- CEO Jodie Pope Morrison sold 3,221 Q32 Bio shares at an average of $8.32, generating $26,798.72. The sale covered tax withholding tied to vested equity awards, reducing her ownership by 0.94% to 340,038 shares.
- Q32 Bio shares opened at $8.01, compared with a 52-week range of $1.90 to $23.57. The company recently reported a quarterly loss of $0.44 per share, slightly better than analysts’ $0.46 estimate.
- Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $32.17; institutional investors own 31.32% of the company.
Q32 Bio Inc. (NASDAQ:QTTB - Get Free Report) CFO Lee Kalowski sold 1,301 shares of the business's stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $8.32, for a total value of $10,824.32. Following the sale, the chief financial officer directly owned 137,170 shares of the company's stock, valued at $1,141,254.40. This represents a 0.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Lee Kalowski also recently made the following trade(s):
- On Tuesday, August 25th, Lee Kalowski sold 3,972 shares of Q32 Bio stock. The stock was sold at an average price of $16.56, for a total value of $65,776.32.
Q32 Bio Stock Down 0.6%
Shares of QTTB opened at $8.01 on Thursday. The business has a 50-day simple moving average of $12.08 and a two-hundred day simple moving average of $10.88. The stock has a market cap of $238.46 million, a price-to-earnings ratio of 3.89 and a beta of 0.31. Q32 Bio Inc. has a 52 week low of $1.90 and a 52 week high of $23.57.
Q32 Bio (NASDAQ:QTTB - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.02. On average, equities analysts anticipate that Q32 Bio Inc. will post -1.54 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Q32 Bio
Hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC grew its stake in Q32 Bio by 107.7% during the first quarter. Renaissance Technologies LLC now owns 206,915 shares of the company's stock valued at $1,328,000 after acquiring an additional 107,315 shares in the last quarter. BlackRock Inc. bought a new stake in Q32 Bio in the 2nd quarter valued at $1,510,000. Atlas Venture Life Science Advisors LLC lifted its stake in Q32 Bio by 29.9% in the 2nd quarter. Atlas Venture Life Science Advisors LLC now owns 2,717,106 shares of the company's stock worth $34,616,000 after purchasing an additional 625,000 shares in the last quarter. Carlyle Group Inc. purchased a new stake in Q32 Bio in the 2nd quarter worth $769,000. Finally, Squarepoint Ops LLC bought a new position in shares of Q32 Bio during the 2nd quarter valued at about $303,000. Institutional investors own 31.32% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have commented on QTTB. Leerink Partners assumed coverage on shares of Q32 Bio in a research note on Monday. They set an "outperform" rating and a $40.00 target price on the stock. Jefferies Financial Group initiated coverage on shares of Q32 Bio in a research report on Monday, September 28th. They issued a "buy" rating and a $29.00 price target for the company. Morgan Stanley assumed coverage on shares of Q32 Bio in a research report on Monday, August 24th. They issued an "overweight" rating and a $34.00 price target for the company. Cantor Fitzgerald reissued an "overweight" rating on shares of Q32 Bio in a research note on Wednesday, September 16th. Finally, Mizuho upgraded shares of Q32 Bio to a "strong-buy" rating in a research report on Monday, September 7th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $32.17.
Check Out Our Latest Research Report on QTTB
About Q32 Bio
(
Get Free Report)
Q32 Bio is a clinical-stage biotechnology company focused on developing therapies designed to restore immune homeostasis and address diseases driven by immune dysregulation. The company's approach targets pathways involved in the transforming growth factor beta superfamily, which plays a role in regulating inflammation, tissue repair and immune responses.
Q32 Bio's lead product candidate is bempikibart, also known as ADX-914, a fully human monoclonal antibody designed to modulate immune activity through selective targeting of the activin receptor type IIA pathway.
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