Piper Sandler Downgrades Q32 Bio (NASDAQ:QTTB) to Neutral

Q32 Bio (NASDAQ:QTTB) was downgraded by equities researchers at Piper Sandler from an “overweight” rating to a “neutral” rating in a research note issued on Tuesday, MarketBeat reports. They currently have a $4.00 price target on the stock, down from their prior price target of $20.00. Piper Sandler’s price target indicates a potential upside of 50.38% from the company’s current price.

Other analysts also recently issued research reports about the company. Oppenheimer dropped their price objective on Q32 Bio from $80.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 11th. Raymond James reaffirmed an “outperform” rating and set a $22.00 price objective (down previously from $90.00) on shares of Q32 Bio in a research note on Wednesday, December 11th. BMO Capital Markets dropped their price objective on Q32 Bio from $64.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Leerink Partnrs downgraded Q32 Bio from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Finally, Leerink Partners reissued a “market perform” rating and issued a $9.00 price target (down previously from $68.00) on shares of Q32 Bio in a research note on Wednesday, December 11th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Q32 Bio has a consensus rating of “Hold” and a consensus target price of $24.86.

Q32 Bio Stock Performance

Shares of Q32 Bio stock opened at $2.66 on Tuesday. The company has a market capitalization of $32.40 million, a PE ratio of -0.19 and a beta of -0.32. Q32 Bio has a 12 month low of $2.59 and a 12 month high of $53.79. The company has a current ratio of 6.53, a quick ratio of 6.53 and a debt-to-equity ratio of 0.61. The stock’s fifty day simple moving average is $5.48 and its 200 day simple moving average is $28.53.

Hedge Funds Weigh In On Q32 Bio

Hedge funds have recently modified their holdings of the stock. Values First Advisors Inc. bought a new position in shares of Q32 Bio in the 3rd quarter valued at about $33,000. BNP Paribas Financial Markets grew its holdings in shares of Q32 Bio by 199.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,298 shares of the company’s stock valued at $58,000 after acquiring an additional 864 shares in the last quarter. MetLife Investment Management LLC bought a new position in shares of Q32 Bio in the 3rd quarter valued at about $159,000. Franklin Resources Inc. bought a new position in shares of Q32 Bio in the 3rd quarter valued at about $225,000. Finally, Barclays PLC grew its holdings in shares of Q32 Bio by 105.2% in the 3rd quarter. Barclays PLC now owns 10,443 shares of the company’s stock valued at $465,000 after acquiring an additional 5,353 shares in the last quarter. Institutional investors own 31.32% of the company’s stock.

Q32 Bio Company Profile

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.