Q32 Bio (NASDAQ:QTTB) Rating Lowered to “Market Perform” at BMO Capital Markets

Q32 Bio (NASDAQ:QTTB) was downgraded by BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research report issued on Tuesday,Briefing.com Automated Import reports. They currently have a $3.00 target price on the stock, down from their previous target price of $22.00. BMO Capital Markets’ price target indicates a potential downside of 5.66% from the company’s current price.

QTTB has been the topic of a number of other research reports. Piper Sandler downgraded Q32 Bio from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $20.00 to $4.00 in a report on Tuesday. Raymond James restated an “outperform” rating and set a $22.00 price target (down previously from $90.00) on shares of Q32 Bio in a research note on Wednesday, December 11th. Leerink Partners reaffirmed a “market perform” rating and issued a $9.00 price objective (down previously from $68.00) on shares of Q32 Bio in a research note on Wednesday, December 11th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $16.00 price objective (down from $95.00) on shares of Q32 Bio in a report on Wednesday, December 11th. Finally, Guggenheim cut Q32 Bio from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 11th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $24.86.

Q32 Bio Stock Performance

Shares of NASDAQ QTTB opened at $3.18 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 6.53 and a quick ratio of 6.53. Q32 Bio has a one year low of $2.90 and a one year high of $53.79. The business’s 50-day moving average price is $5.92 and its two-hundred day moving average price is $28.77. The company has a market capitalization of $38.73 million, a P/E ratio of -0.22 and a beta of -0.32.

Institutional Investors Weigh In On Q32 Bio

Several hedge funds and other institutional investors have recently made changes to their positions in QTTB. Values First Advisors Inc. bought a new stake in Q32 Bio during the 3rd quarter valued at approximately $33,000. Hussman Strategic Advisors Inc. acquired a new position in shares of Q32 Bio during the fourth quarter worth approximately $36,000. Raymond James Financial Inc. bought a new stake in shares of Q32 Bio in the fourth quarter valued at approximately $37,000. Drive Wealth Management LLC acquired a new stake in shares of Q32 Bio in the fourth quarter worth $38,000. Finally, Savant Capital LLC bought a new position in Q32 Bio during the fourth quarter worth $53,000. 31.32% of the stock is owned by institutional investors and hedge funds.

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.