Point72 Asset Management L.P. Purchases New Shares in Q32 Bio Inc. (NASDAQ:QTTB)

Point72 Asset Management L.P. acquired a new stake in Q32 Bio Inc. (NASDAQ:QTTB) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 76,685 shares of the company’s stock, valued at approximately $3,422,000. Point72 Asset Management L.P. owned about 0.63% of Q32 Bio as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. FMR LLC raised its holdings in shares of Q32 Bio by 137.3% in the third quarter. FMR LLC now owns 426,302 shares of the company’s stock valued at $19,022,000 after buying an additional 246,664 shares during the last quarter. Eventide Asset Management LLC bought a new position in shares of Q32 Bio in the third quarter worth about $8,478,000. Harvard Management Co. Inc. acquired a new position in shares of Q32 Bio during the second quarter worth approximately $2,925,000. Vanguard Group Inc. bought a new stake in shares of Q32 Bio during the first quarter valued at approximately $1,836,000. Finally, Ensign Peak Advisors Inc increased its holdings in shares of Q32 Bio by 150.6% in the second quarter. Ensign Peak Advisors Inc now owns 64,481 shares of the company’s stock valued at $1,157,000 after purchasing an additional 38,750 shares in the last quarter. Institutional investors and hedge funds own 31.32% of the company’s stock.

Q32 Bio Stock Up 9.4 %

Shares of Q32 Bio stock opened at $25.92 on Monday. The company has a quick ratio of 6.53, a current ratio of 6.53 and a debt-to-equity ratio of 0.61. Q32 Bio Inc. has a 12 month low of $9.54 and a 12 month high of $53.79. The stock has a market cap of $315.71 million, a PE ratio of -1.82 and a beta of -0.46. The business has a fifty day simple moving average of $39.89 and a 200 day simple moving average of $34.75.

Wall Street Analysts Forecast Growth

QTTB has been the topic of several research reports. Raymond James assumed coverage on Q32 Bio in a report on Thursday, October 24th. They set a “strong-buy” rating and a $90.00 price objective on the stock. Wells Fargo & Company initiated coverage on Q32 Bio in a report on Wednesday, September 11th. They issued an “overweight” rating and a $95.00 price target on the stock. Finally, BMO Capital Markets started coverage on Q32 Bio in a report on Friday. They set an “outperform” rating and a $64.00 price objective for the company. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $71.14.

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.